Northeast Bank (NASDAQ:NBN) Shares Sold by Gator Capital Management LLC

Gator Capital Management LLC lowered its position in Northeast Bank (NASDAQ:NBN) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 97,606 shares of the financial services provider’s stock after selling 789 shares during the quarter. Northeast Bank makes up 3.4% of Gator Capital Management LLC’s investment portfolio, making the stock its 9th biggest position. Gator Capital Management LLC’s holdings in Northeast Bank were worth $8,953,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Royce & Associates LP acquired a new stake in Northeast Bank in the fourth quarter valued at $4,820,000. Congress Wealth Management LLC DE bought a new position in Northeast Bank in the fourth quarter worth about $3,183,000. JPMorgan Chase & Co. boosted its stake in Northeast Bank by 113.8% in the fourth quarter. JPMorgan Chase & Co. now owns 59,222 shares of the financial services provider’s stock valued at $5,432,000 after acquiring an additional 31,523 shares during the period. American Century Companies Inc. grew 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 valued at $15,827,000 after purchasing an additional 25,220 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Northeast Bank by 5.3% in the 4th quarter. Vanguard Group Inc. now owns 382,996 shares of the financial services provider’s stock worth $35,132,000 after purchasing an additional 19,279 shares during the last quarter.

Analyst Upgrades and Downgrades

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

Northeast Bank Stock Down 0.8 %

Northeast Bank stock opened at $82.63 on Friday. Northeast Bank has a 52-week low of $50.02 and a 52-week high of $110.35. The firm has a market capitalization of $678.06 million, a price-to-earnings ratio of 9.62 and a beta of 0.85. The firm has a 50-day moving average price of $97.22 and a two-hundred day moving average price of $93.29.

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

Northeast Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.04 annualized dividend and a yield of 0.05%. Northeast Bank’s dividend payout ratio is currently 0.47%.

Northeast Bank 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.