Allspring Global Investments Holdings LLC Increases Stake in Northeast Bank (NASDAQ:NBN)

Allspring Global Investments Holdings LLC increased its position in shares of Northeast Bank (NASDAQ:NBN – Free Report) by 3,166.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,025 shares of the financial services provider after acquiring an additional 1,963 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Northeast Bank were worth $112,000, according to its most recent filing with the Securities & Exchange Commission.

Other hedge funds and institutional investors also made changes to their positions in the company. SG Americas Securities LLC increased its holdings in Northeast Bank by 28.5% in the fourth quarter. SG Americas Securities LLC now owns 3,801 shares of the financial services provider’s stock worth $210,000 after purchasing an additional 843 shares during the period. Assenagon Asset Management SA purchased a new stake in Northeast Bank in the fourth quarter worth $491,000. Janney Montgomery Scott LLC increased its stake in Northeast Bank by 10.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 16,501 shares of the financial services provider’s stock worth $911,000 after purchasing an additional 1,619 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Northeast Bank by 7.2% during the fourth quarter. Russell Investments Group Ltd. now owns 59,706 shares of the financial services company’s stock worth $3,295,000 after purchasing an additional 3,989 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in shares of Northeast Bank during the third quarter worth $6,082,000.

Northeast Bank shares rise 1.7%

NBN shares opened at $69.02 on Monday. Northeast Bank has a 12-month low of $42.43 and a 12-month high of $69.74. The company’s 50-day moving average is $58.82 and its 200-day moving average is $55.27.

Northeast Bank (NASDAQ:NBN – Get Free Report) last released its earnings results on Tuesday, April 30. The financial services company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.11. The company had revenue of $66.03 million for the quarter, compared to analysts’ expectations of $36.34 million. In the year-ago period, the company posted $1.69 EPS.

Northeast Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 27th. Shareholders of record on Monday, May 13th were paid a dividend of $0.01 per share. This represents a dividend of $0.04 annualized and a yield of 0.06%. The ex-dividend date was Friday, May 10th. Northeast Bank’s dividend payout ratio (DPR) is currently 0.55%.

Profile of the Northeast Bank

(Free Report)

Northeast Bank provides banking services to individual and business customers in Maine. The company’s deposit products include call deposits, NOW, money market, savings, certificates of deposit, and individual retirement accounts, as well as checking accounts. Its loan portfolio includes residential mortgage loans; multifamily and other commercial real estate loans; commercial and industrial loans, such as term loans, lines of credit and equipment, and receivables financing; consumer loans consisting of mobile homes and overdrafts, and deposit-backed loans; and Small Business Administration loans.

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