Northeast Bancorp $NBN Shares Sold by Royce & Associates LP

Royce & Associates LP decreased its holdings in shares of Northeast Bancorp (NASDAQ:NBN) by 22.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,962 shares of the financial services provider’s stock after selling 27,969 shares during the quarter. Royce & Associates LP owned about 1.18% of Northeast Bancorp worth $9,712,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in NBN. American Century Companies Inc. boosted its position in shares of Northeast Bancorp by 8.5% in the third quarter. American Century Companies Inc. now owns 220,712 shares of the financial services provider’s stock worth $22,107,000 after buying an additional 17,344 shares during the period. Rafferty Asset Management LLC boosted its holdings in Northeast Bancorp by 137.3% in the 3rd quarter. Rafferty Asset Management LLC now owns 16,173 shares of the financial services provider’s stock worth $1,620,000 after acquiring an additional 9,359 shares during the period. Quantbot Technologies LP grew its position in Northeast Bancorp by 6.3% in the third quarter. Quantbot Technologies LP now owns 2,397 shares of the financial services provider’s stock valued at $240,000 after acquiring an additional 142 shares in the last quarter. JPMorgan Chase & Co. grew its position in Northeast Bancorp by 41.7% in the third quarter. JPMorgan Chase & Co. now owns 11,418 shares of the financial services provider’s stock valued at $1,144,000 after acquiring an additional 3,359 shares in the last quarter. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of Northeast Bancorp during the third quarter valued at approximately $89,000.

Northeast Bancorp Stock Performance

Northeast Bancorp stock opened at $111.44 on Wednesday. Northeast Bancorp has a 52 week low of $78.17 and a 52 week high of $126.25. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.65. The stock has a market cap of $914.92 million, a P/E ratio of 10.75 and a beta of 0.58. The stock has a 50 day moving average of $113.90 and a 200-day moving average of $103.37.

Northeast Bancorp (NASDAQ:NBN) last issued its earnings results on Monday, January 26th. The financial services provider reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.09. The business had revenue of $51.77 million for the quarter, compared to analyst estimates of $54.83 million. Northeast Bancorp had a net margin of 24.16% and a return on equity of 17.73%.

Northeast Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date of this dividend was Wednesday, February 11th. Northeast Bancorp’s dividend payout ratio (DPR) is currently 0.39%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Northeast Bancorp in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $102.00.

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.