Ellsworth Advisors LLC Has $888,000 Stock Position in Northeast Bank (NASDAQ:NBN)

Ellsworth Advisors LLC lessened its stake in Northeast Bank (NASDAQ:NBN) by 8.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,512 shares of the financial services provider’s stock after selling 1,101 shares during the quarter. Ellsworth Advisors LLC’s holdings in Northeast Bank were worth $888,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Boston Partners lifted its stake in Northeast Bank by 5.2% in the first quarter. Boston Partners now owns 13,839 shares of the financial services provider’s stock valued at $766,000 after acquiring an additional 689 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Northeast Bank by 82.2% in the 1st quarter. BNP Paribas Financial Markets now owns 3,640 shares of the financial services provider’s stock valued at $201,000 after acquiring an additional 1,642 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Northeast Bank by 3,166.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,025 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 1,963 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Northeast Bank by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 422,573 shares of the financial services provider’s stock worth $25,716,000 after purchasing an additional 2,093 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Northeast Bank by 4.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 51,561 shares of the financial services provider’s stock worth $3,138,000 after purchasing an additional 2,175 shares during the last quarter.

Northeast Bank Trading Up 0.6 %

Shares of Northeast Bank stock opened at $87.00 on Friday. Northeast Bank has a twelve month low of $43.21 and a twelve month high of $88.28. The company has a 50-day simple moving average of $71.77 and a two-hundred day simple moving average of $63.15.

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

Northeast Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.05%. The ex-dividend date of this dividend was Friday, August 9th. 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 objective on shares of Northeast Bank in a research report on Wednesday, September 11th.

About Northeast Bank

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.