18,125 Shares in Northeast Bancorp $NBN Bought by Man Group plc

Man Group plc acquired a new stake in shares of Northeast Bancorp (NASDAQ:NBN) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 18,125 shares of the financial services provider’s stock, valued at approximately $2,402,000.

Several other large investors have also bought and sold shares of NBN. BlackRock Inc. bought a new stake in shares of Northeast Bancorp during the second quarter valued at approximately $83,160,000. Vanguard Group Inc. lifted its position in Northeast Bancorp by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 434,490 shares of the financial services provider’s stock valued at $45,157,000 after buying an additional 9,926 shares during the period. Dimensional Fund Advisors LP lifted its position in Northeast Bancorp by 3.5% during the first quarter. Dimensional Fund Advisors LP now owns 333,281 shares of the financial services provider’s stock valued at $37,449,000 after buying an additional 11,168 shares during the period. Boston Partners boosted its holdings in shares of Northeast Bancorp by 0.4% during the 3rd quarter. Boston Partners now owns 271,711 shares of the financial services provider’s stock valued at $27,018,000 after buying an additional 1,029 shares in the last quarter. Finally, Ampfield Management L.P. bought a new stake in shares of Northeast Bancorp during the 1st quarter valued at $19,500,000.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Northeast Bancorp in a report on Friday, July 31st. Wall Street Zen downgraded Northeast Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. Piper Sandler boosted their price target on Northeast Bancorp from $145.00 to $151.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Finally, Keefe, Bruyette & Woods lifted their price objective on Northeast Bancorp from $128.00 to $136.00 and gave the stock a “market perform” rating in a report on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Northeast Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $143.50.

Northeast Bancorp Trading Down 1.2%

Shares of Northeast Bancorp stock opened at $124.65 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.13 and a quick ratio of 1.10. The stock has a market capitalization of $1.02 billion, a PE ratio of 9.80 and a beta of 0.58. Northeast Bancorp has a 1-year low of $80.75 and a 1-year high of $142.31. The company’s fifty day simple moving average is $131.14 and its 200-day simple moving average is $123.14.

Northeast Bancorp (NASDAQ:NBN) last posted its quarterly earnings data on Monday, July 27th. The financial services provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.40 by $0.65. The firm had revenue of $65.24 million for the quarter, compared to analysts’ expectations of $67.21 million. Northeast Bancorp had a return on equity of 19.94% and a net margin of 27.91%.

Northeast Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 10th were given a dividend of $0.01 per share. The ex-dividend date was Monday, August 10th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Northeast Bancorp’s dividend payout ratio (DPR) is presently 0.31%.

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.