Rhumbline Advisers Sells 236 Shares of Northeast Bank (NASDAQ:NBN)

Rhumbline Advisers trimmed its position in shares of Northeast Bank (NASDAQ:NBN) by 2.2% during the second quarter, Holdings Channel.com reports. The firm owned 10,554 shares of the financial services provider’s stock after selling 236 shares during the period. Rhumbline Advisers’ holdings in Northeast Bank were worth $642,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NBN. Allspring Global Investments Holdings LLC raised its position in Northeast Bank by 3,166.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,025 shares of the financial services provider’s stock valued at $112,000 after buying an additional 1,963 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Northeast Bank by 82.2% during the 1st quarter. BNP Paribas Financial Markets now owns 3,640 shares of the financial services provider’s stock valued at $201,000 after purchasing an additional 1,642 shares during the last quarter. Enterprise Bank & Trust Co purchased a new stake in shares of Northeast Bank during the 2nd quarter valued at $201,000. Assenagon Asset Management S.A. purchased a new stake in shares of Northeast Bank during the 2nd quarter valued at $373,000. Finally, Boston Partners increased its position in shares of Northeast Bank by 5.2% during the 1st quarter. Boston Partners now owns 13,839 shares of the financial services provider’s stock valued at $766,000 after purchasing an additional 689 shares during the last quarter.

Northeast Bank Trading Up 5.7 %

Shares of NBN opened at $73.25 on Wednesday. The stock has a 50-day moving average price of $68.49 and a 200-day moving average price of $60.22. Northeast Bank has a 12-month low of $42.48 and a 12-month high of $74.85.

Northeast Bank (NASDAQ:NBN) last announced its quarterly earnings data on Monday, July 29th. The financial services provider reported $1.91 earnings per share for the quarter. The firm had revenue of $68.66 million for the quarter. During the same quarter last year, the company posted $1.61 earnings per share.

Northeast Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.04 dividend on an annualized basis and a yield of 0.05%. Northeast Bank’s dividend payout ratio (DPR) is currently 0.55%.

Wall Street Analyst Weigh In

Separately, Piper Sandler reiterated an “overweight” rating and set a $80.00 price target on shares of Northeast Bank in a research note on Wednesday, September 11th.

Northeast Bank Company 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.