Northeast Bank (NASDAQ:NBN) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Northeast Bank (NASDAQ:NBN) by 51.8% during the 4th quarter, HoldingsChannel reports. The fund owned 11,072 shares of the financial services provider’s stock after acquiring an additional 3,780 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Northeast Bank were worth $1,016,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Northeast Bank by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 153,470 shares of the financial services provider’s stock valued at $11,840,000 after acquiring an additional 801 shares during the last quarter. State Street Corp raised its holdings in Northeast Bank by 6.3% in the 3rd quarter. State Street Corp now owns 144,591 shares of the financial services provider’s stock valued at $11,152,000 after buying an additional 8,518 shares during the period. Foundry Partners LLC raised its holdings in Northeast Bank by 0.9% in the 3rd quarter. Foundry Partners LLC now owns 74,127 shares of the financial services provider’s stock valued at $5,717,000 after buying an additional 695 shares during the period. Polaris Capital Management LLC raised its holdings in Northeast Bank by 3.5% in the 4th quarter. Polaris Capital Management LLC now owns 49,600 shares of the financial services provider’s stock valued at $4,550,000 after buying an additional 1,700 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Northeast Bank by 3.2% in the 4th quarter. Bank of New York Mellon Corp now owns 47,873 shares of the financial services provider’s stock valued at $4,391,000 after buying an additional 1,498 shares during the period.

Northeast Bank Trading Down 1.7 %

Shares of NBN opened at $92.59 on Friday. The firm has a market cap of $759.79 million, a P/E ratio of 10.78 and a beta of 1.06. The company’s 50-day moving average price is $99.00 and its 200 day moving average price is $91.42. Northeast Bank has a 12-month low of $50.02 and a 12-month high of $110.35.

Northeast Bank (NASDAQ:NBN) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.18.

Northeast Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.01 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. Northeast Bank’s dividend payout ratio (DPR) is presently 0.47%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods boosted their price objective on shares of Northeast Bank from $102.00 to $115.00 and gave the company a “market perform” rating in a report on Monday, February 10th.

Northeast Bank Profile

Northeast Bank provides banking services to individual and corporate customers in Maine. The company's deposit products include demand deposit, NOW, money market, savings, certificate of deposit, and individual retirement accounts, as well as checking accounts. Its loan portfolio comprises residential mortgage loans; multi-family and other commercial real estate loans; commercial and industrial loans, such as term loans, lines of credit and equipment, and receivables financing; consumer loans comprising mobile home and overdraft, and deposit-secured loans; and small business administration loans.