Keefe, Bruyette & Woods Issues Positive Forecast for Northeast Bank (NASDAQ:NBN) Stock Price

Northeast Bank (NASDAQ:NBN) had its price objective upped by Keefe, Bruyette & Woods from $102.00 to $115.00 in a research report report published on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Northeast Bank Price Performance

Shares of NBN stock opened at $104.56 on Monday. The company has a fifty day moving average price of $97.94 and a two-hundred day moving average price of $86.13. Northeast Bank has a one year low of $49.07 and a one year high of $110.35. The stock has a market cap of $858.44 million, a P/E ratio of 12.17 and a beta of 1.08.

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

Northeast Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date is Tuesday, February 18th. Northeast Bank’s payout ratio is presently 0.47%.

Institutional Investors Weigh In On Northeast Bank

Several hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC bought a new position in shares of Northeast Bank in the second quarter valued at about $212,000. SG Americas Securities LLC bought a new position in Northeast Bank in the 3rd quarter valued at about $185,000. Assenagon Asset Management S.A. lifted its position in Northeast Bank by 251.5% during the third quarter. Assenagon Asset Management S.A. now owns 21,554 shares of the financial services provider’s stock worth $1,662,000 after acquiring an additional 15,422 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Northeast Bank by 11.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,268 shares of the financial services provider’s stock worth $406,000 after acquiring an additional 520 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Northeast Bank during the third quarter worth approximately $562,000.

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.