Vanguard Group Inc. Has $45.16 Million Stock Position in Northeast Bancorp $NBN

Vanguard Group Inc. lifted its position in Northeast Bancorp (NASDAQ:NBN) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 434,490 shares of the financial services provider’s stock after buying an additional 9,926 shares during the quarter. Vanguard Group Inc. owned about 5.29% of Northeast Bancorp worth $45,157,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of NBN. Earnest Partners LLC acquired a new stake in shares of Northeast Bancorp in the third quarter worth $67,225,000. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Northeast Bancorp by 237.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 125,851 shares of the financial services provider’s stock worth $12,605,000 after buying an additional 88,592 shares during the last quarter. Envestnet Asset Management Inc. acquired a new position in Northeast Bancorp during the 3rd quarter valued at $4,077,000. Kennedy Capital Management LLC raised its stake in Northeast Bancorp by 13.5% during the 3rd quarter. Kennedy Capital Management LLC now owns 204,112 shares of the financial services provider’s stock valued at $20,444,000 after purchasing an additional 24,327 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Northeast Bancorp by 247.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 25,590 shares of the financial services provider’s stock valued at $2,563,000 after purchasing an additional 18,235 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NBN. Weiss Ratings reiterated a “buy (b)” rating on shares of Northeast Bancorp in a research note on Monday, May 4th. Keefe, Bruyette & Woods upped their target price on shares of Northeast Bancorp from $120.00 to $128.00 and gave the company a “market perform” rating in a research note on Wednesday, April 29th. Piper Sandler began coverage on shares of Northeast Bancorp in a research note on Monday, March 16th. They set an “overweight” rating and a $133.00 target price for the company. Finally, Wall Street Zen upgraded shares of Northeast Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday. Two equities research 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 stock has a consensus rating of “Moderate Buy” and an average target price of $130.50.

Northeast Bancorp Trading Down 2.7%

Shares of NBN stock opened at $115.18 on Friday. Northeast Bancorp has a 52-week low of $79.05 and a 52-week high of $135.62. The stock has a market cap of $945.63 million, a price-to-earnings ratio of 9.87 and a beta of 0.59. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.24 and a current ratio of 1.13. The firm has a fifty day moving average of $116.86 and a 200-day moving average of $108.27.

Northeast Bancorp (NASDAQ:NBN) last announced its quarterly earnings data on Monday, April 27th. The financial services provider reported $3.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $61.49 million.

Northeast Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th will be paid a $0.01 dividend. The ex-dividend date is Tuesday, May 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Northeast Bancorp’s dividend payout ratio is currently 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.