Emerald Mutual Fund Advisers Trust Sells 5,738 Shares of Northeast Bank (NASDAQ:NBN)

Emerald Mutual Fund Advisers Trust decreased its position in shares of Northeast Bank (NASDAQ:NBN) by 19.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,238 shares of the financial services provider’s stock after selling 5,738 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in Northeast Bank were worth $2,223,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royce & Associates LP bought a new position in Northeast Bank in the fourth quarter valued at $4,820,000. Congress Wealth Management LLC DE bought a new stake in shares of Northeast Bank during the 4th quarter worth about $3,183,000. JPMorgan Chase & Co. lifted its position in Northeast Bank by 113.8% during the fourth quarter. JPMorgan Chase & Co. now owns 59,222 shares of the financial services provider’s stock worth $5,432,000 after acquiring an additional 31,523 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Northeast Bank by 17.1% during the fourth quarter. American Century Companies Inc. now owns 172,538 shares of the financial services provider’s stock worth $15,827,000 after acquiring an additional 25,220 shares during the period. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Northeast Bank in the fourth quarter valued at approximately $2,028,000.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upped their price objective on 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 Price Performance

Shares of NBN opened at $92.41 on Tuesday. Northeast Bank has a one year low of $51.50 and a one year high of $110.35. The company has a market cap of $758.32 million, a P/E ratio of 10.76 and a beta of 0.85. The firm has a 50 day simple moving average of $91.37 and a two-hundred day simple moving average of $94.87.

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

Northeast Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given 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 dividend yield of 0.04%. Northeast Bank’s dividend payout ratio (DPR) is presently 0.47%.

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.