Northeast Bank (NASDAQ:NBN) Sees Unusually-High Trading Volume – What’s Next?

Northeast Bank (NASDAQ:NBN) shares saw strong trading volume on Tuesday . 40,024 shares traded hands during trading, a decline of 2% from the previous session’s volume of 40,666 shares.The stock last traded at $91.05 and had previously closed at $92.49.

Wall Street Analyst Weigh In

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

Northeast Bank Stock Performance

The firm has a market cap of $753.84 million, a price-to-earnings ratio of 10.68 and a beta of 1.06. The stock’s fifty day moving average is $99.00 and its two-hundred day moving average is $91.24.

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

Northeast Bank Announces Dividend

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

Institutional Trading of Northeast Bank

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Picton Mahoney Asset Management boosted its position in shares of Northeast Bank by 57.6% in the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the financial services provider’s stock worth $30,000 after buying an additional 118 shares during the period. R Squared Ltd purchased a new stake in shares of Northeast Bank in the fourth quarter worth approximately $41,000. Quantbot Technologies LP acquired a new stake in shares of Northeast Bank during the third quarter worth approximately $76,000. BNP Paribas Financial Markets boosted its stake in shares of Northeast Bank by 36.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,647 shares of the financial services provider’s stock valued at $127,000 after buying an additional 442 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of Northeast Bank during the 4th quarter valued at $127,000.

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.