Globeflex Capital L P purchased a new stake in Northeast Bancorp (NASDAQ:NBN – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 35,339 shares of the financial services provider’s stock, valued at approximately $4,683,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NBN. GAMMA Investing LLC lifted its holdings in shares of Northeast Bancorp by 105.6% in the 2nd quarter. GAMMA Investing LLC now owns 185 shares of the financial services provider’s stock valued at $25,000 after buying an additional 95 shares during the period. OP Asset Management Ltd acquired a new stake in Northeast Bancorp during the first quarter worth about $33,000. Caitong International Asset Management Co. Ltd raised its position in Northeast Bancorp by 36,700.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 368 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 367 shares in the last quarter. Clearstead Advisors LLC raised its position in Northeast Bancorp by 194.0% during the fourth quarter. Clearstead Advisors LLC now owns 741 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 489 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in Northeast Bancorp by 1,071.4% in the fourth quarter. Quadrant Capital Group LLC now owns 820 shares of the financial services provider’s stock valued at $85,000 after acquiring an additional 750 shares during the period.
Analysts Set New Price Targets
Several equities research analysts have commented on the company. Wall Street Zen lowered Northeast Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Keefe, Bruyette & Woods lifted their target price on shares of Northeast Bancorp from $128.00 to $136.00 and gave the company a “market perform” rating in a report on Tuesday, July 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Northeast Bancorp in a research note on Friday, July 31st. Finally, Piper Sandler increased their price target on shares of Northeast Bancorp from $145.00 to $151.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $143.50.
Northeast Bancorp Price Performance
Shares of Northeast Bancorp stock opened at $130.50 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.13 and a debt-to-equity ratio of 0.03. Northeast Bancorp has a twelve month low of $80.75 and a twelve month high of $142.31. The business has a 50-day moving average price of $130.95 and a 200 day moving average price of $122.86. The firm has a market cap of $1.07 billion, a PE ratio of 10.26 and a beta of 0.58.
Northeast Bancorp (NASDAQ:NBN – Get Free Report) last issued its quarterly earnings results on Monday, July 27th. The financial services provider reported $4.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.40 by $0.65. Northeast Bancorp had a return on equity of 19.94% and a net margin of 27.91%.The company had revenue of $65.24 million for the quarter, compared to the consensus estimate of $67.21 million.
Northeast Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 10th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend is Monday, August 10th. Northeast Bancorp’s dividend payout ratio is presently 0.31%.
About Northeast Bancorp
Northeast Bancorp is a Maine-based bank holding company and the parent of Northeast Bank, a state‐chartered commercial bank headquartered in Lewiston, Maine. Through its subsidiary, the company provides a variety of financial services, including personal checking and savings accounts, residential mortgage lending, small business and commercial loans, treasury management and private banking services. The bank operates a branch network spanning central and southern Maine, serving individuals, families and local businesses across the region.
Founded in 1872 as Androscoggin County Savings Bank, the institution has evolved through mutual and stock conversions, adopting the Northeast Bank name in 2001 and forming Northeast Bancorp as its mutual holding company in 2013.
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