Kennedy Capital Management LLC Buys 24,327 Shares of Northeast Bancorp $NBN

Kennedy Capital Management LLC grew its stake in Northeast Bancorp (NASDAQ:NBN) by 13.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 204,112 shares of the financial services provider’s stock after purchasing an additional 24,327 shares during the period. Kennedy Capital Management LLC owned about 2.49% of Northeast Bancorp worth $20,444,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new position in Northeast Bancorp in the 3rd quarter valued at approximately $31,000. PNC Financial Services Group Inc. acquired a new position in shares of Northeast Bancorp during the third quarter worth $89,000. Police & Firemen s Retirement System of New Jersey lifted its stake in shares of Northeast Bancorp by 19.4% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 1,717 shares of the financial services provider’s stock valued at $153,000 after acquiring an additional 279 shares during the last quarter. Quantbot Technologies LP lifted its stake in shares of Northeast Bancorp by 110.9% in the 2nd quarter. Quantbot Technologies LP now owns 2,255 shares of the financial services provider’s stock valued at $201,000 after acquiring an additional 1,186 shares during the last quarter. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Northeast Bancorp during the 2nd quarter valued at $202,000.

Analysts Set New Price Targets

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

Northeast Bancorp Trading Up 1.3%

NASDAQ NBN traded up $1.42 on Friday, hitting $110.22. The company’s stock had a trading volume of 44,430 shares, compared to its average volume of 111,328. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.65. Northeast Bancorp has a 1-year low of $78.17 and a 1-year high of $126.25. The company’s 50-day moving average is $114.28 and its 200 day moving average is $103.61. The firm has a market cap of $904.87 million, a PE ratio of 10.63 and a beta of 0.58.

Northeast Bancorp (NASDAQ:NBN) last issued its quarterly earnings results on Monday, January 26th. The financial services provider reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.09. The company 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Northeast Bancorp’s dividend payout ratio is presently 0.39%.

Northeast Bancorp Company Profile

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.