Trevian Wealth Management LLC Sells 9,549 Shares of Northeast Bancorp $NBN

Trevian Wealth Management LLC trimmed its position in shares of Northeast Bancorp (NASDAQ:NBN) by 6.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 140,583 shares of the financial services provider’s stock after selling 9,549 shares during the quarter. Northeast Bancorp accounts for approximately 6.9% of Trevian Wealth Management LLC’s portfolio, making the stock its 3rd largest holding. Trevian Wealth Management LLC owned about 1.71% of Northeast Bancorp worth $14,611,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NBN. Quantbot Technologies LP boosted its holdings in Northeast Bancorp by 6.3% during the third quarter. Quantbot Technologies LP now owns 2,397 shares of the financial services provider’s stock worth $240,000 after buying an additional 142 shares in the last quarter. Jump Financial LLC boosted its holdings in Northeast Bancorp by 5.2% during the second quarter. Jump Financial LLC now owns 3,129 shares of the financial services provider’s stock worth $278,000 after buying an additional 154 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Northeast Bancorp by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,157 shares of the financial services provider’s stock worth $381,000 after buying an additional 175 shares in the last quarter. Alps Advisors Inc. boosted its holdings in Northeast Bancorp by 4.4% during the third quarter. Alps Advisors Inc. now owns 4,134 shares of the financial services provider’s stock worth $414,000 after buying an additional 176 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Northeast Bancorp by 12.8% during the second quarter. The Manufacturers Life Insurance Company now owns 2,680 shares of the financial services provider’s stock worth $238,000 after buying an additional 304 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Piper Sandler assumed coverage on shares of Northeast Bancorp in a report on Monday, March 16th. They set an “overweight” rating and a $133.00 price objective on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Northeast Bancorp in a report on Monday, May 4th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Northeast Bancorp from $120.00 to $128.00 and gave the stock a “market perform” rating in a report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $130.50.

Northeast Bancorp Stock Down 0.2%

Shares of NASDAQ NBN opened at $118.32 on Friday. Northeast Bancorp has a 12-month low of $79.05 and a 12-month high of $135.62. The company has a market capitalization of $971.41 million, a PE ratio of 10.14 and a beta of 0.59. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.13 and a quick ratio of 1.24. The firm’s 50-day moving average is $116.78 and its two-hundred day moving average is $108.23.

Northeast Bancorp (NASDAQ:NBN) last announced its quarterly earnings results on Monday, April 27th. The financial services provider reported $3.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.53. Northeast Bancorp had a net margin of 25.96% and a return on equity of 18.63%. The company 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. Shareholders of record on Tuesday, May 12th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend is Tuesday, May 12th. Northeast Bancorp’s dividend payout ratio is 0.34%.

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.