Pacific Ridge Capital Partners LLC Has $13.23 Million Position in Northeast Bancorp $NBN

Pacific Ridge Capital Partners LLC grew its stake in shares of Northeast Bancorp (NASDAQ:NBN) by 5.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 127,330 shares of the financial services provider’s stock after purchasing an additional 6,339 shares during the quarter. Northeast Bancorp comprises about 2.9% of Pacific Ridge Capital Partners LLC’s portfolio, making the stock its biggest holding. Pacific Ridge Capital Partners LLC owned about 1.55% of Northeast Bancorp worth $13,233,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State of Alaska Department of Revenue acquired a new stake in Northeast Bancorp in the 3rd quarter valued at about $31,000. PNC Financial Services Group Inc. bought a new position in Northeast Bancorp in the 3rd quarter valued at about $89,000. Ritholtz Wealth Management acquired a new stake in Northeast Bancorp during the fourth quarter worth approximately $202,000. Integrated Investment Consultants LLC bought a new stake in shares of Northeast Bancorp during the third quarter worth approximately $211,000. Finally, Quantbot Technologies LP lifted its holdings in Northeast Bancorp by 110.9% during the 2nd quarter. Quantbot Technologies LP now owns 2,255 shares of the financial services provider’s stock worth $201,000 after purchasing an additional 1,186 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods lifted their target price on Northeast Bancorp from $120.00 to $128.00 and gave the stock a “market perform” rating in a report on Wednesday, April 29th. Piper Sandler initiated coverage on shares of Northeast Bancorp in a research report on Monday, March 16th. They issued an “overweight” rating and a $133.00 price target for the company. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Northeast Bancorp in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating and one has given 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 target price of $130.50.

Northeast Bancorp Trading Down 1.1%

Shares of NBN stock opened at $123.34 on Tuesday. The company has a market cap of $1.01 billion, a P/E ratio of 10.57 and a beta of 0.59. The stock has a 50 day simple moving average of $116.32 and a two-hundred day simple moving average of $107.72. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.24 and a current ratio of 1.27. Northeast Bancorp has a fifty-two week low of $79.05 and a fifty-two week high of $135.62.

Northeast Bancorp (NASDAQ:NBN) last posted its quarterly earnings results on Monday, April 27th. The financial services provider reported $3.53 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.53. Northeast Bancorp had a return on equity of 19.11% and a net margin of 25.96%.The business had revenue of $66.62 million for the quarter, compared to the consensus estimate of $61.49 million.

Northeast Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th will be given a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, May 12th. This represents a $0.04 annualized dividend and a yield of 0.0%. Northeast Bancorp’s dividend payout ratio (DPR) is presently 0.34%.

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.