Semanteon Capital Management LP Invests $743,000 in Northeast Bank (NASDAQ:NBN)

Semanteon Capital Management LP purchased a new position in shares of Northeast Bank (NASDAQ:NBN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,103 shares of the financial services provider’s stock, valued at approximately $743,000. Semanteon Capital Management LP owned approximately 0.10% of Northeast Bank at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Royce & Associates LP purchased a new stake in shares of Northeast Bank during the 4th quarter worth $4,820,000. JPMorgan Chase & Co. lifted its stake in shares of Northeast Bank by 136.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 27,699 shares of the financial services provider’s stock worth $2,136,000 after purchasing an additional 15,975 shares during the last quarter. Swiss National Bank purchased a new stake in shares of Northeast Bank during the 4th quarter worth $1,330,000. Teacher Retirement System of Texas purchased a new stake in shares of Northeast Bank during the 4th quarter worth $1,020,000. Finally, State Street Corp lifted its stake in shares of Northeast Bank by 6.3% during the 3rd quarter. State Street Corp now owns 144,591 shares of the financial services provider’s stock worth $11,152,000 after purchasing an additional 8,518 shares during the last quarter.

Northeast Bank Stock Performance

Northeast Bank stock opened at $91.95 on Friday. The stock has a 50-day moving average of $99.01 and a two-hundred day moving average of $91.57. Northeast Bank has a one year low of $50.02 and a one year high of $110.35. The stock has a market cap of $754.54 million, a PE ratio of 10.70 and a beta of 1.06.

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

Northeast Bank Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.