Northeast Bancorp $NBN Shares Sold by Royce & Associates LP

Royce & Associates LP decreased its holdings in shares of Northeast Bancorp (NASDAQ:NBN) by 22.4% in the 3rd quarter, Holdings Channel reports. The firm owned 96,962 shares of the financial services provider’s stock after selling 27,969 shares during the quarter. Royce & Associates LP’s holdings in Northeast Bancorp were worth $9,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the business. American Century Companies Inc. boosted its holdings in shares of Northeast Bancorp by 8.5% in the 3rd quarter. American Century Companies Inc. now owns 220,712 shares of the financial services provider’s stock valued at $22,107,000 after buying an additional 17,344 shares during the period. Rafferty Asset Management LLC lifted its holdings in Northeast Bancorp by 137.3% in the third quarter. Rafferty Asset Management LLC now owns 16,173 shares of the financial services provider’s stock worth $1,620,000 after acquiring an additional 9,359 shares during the last quarter. Quantbot Technologies LP boosted its stake in Northeast Bancorp by 6.3% in the third quarter. Quantbot Technologies LP now owns 2,397 shares of the financial services provider’s stock valued at $240,000 after acquiring an additional 142 shares during the period. JPMorgan Chase & Co. boosted its stake in Northeast Bancorp by 41.7% in the third quarter. JPMorgan Chase & Co. now owns 11,418 shares of the financial services provider’s stock valued at $1,144,000 after acquiring an additional 3,359 shares during the period. Finally, PNC Financial Services Group Inc. bought a new position in shares of Northeast Bancorp during the third quarter valued at approximately $89,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued 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 issued a Hold rating to the company. According to MarketBeat.com, Northeast Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $102.00.

Northeast Bancorp Trading Down 1.3%

Shares of NASDAQ:NBN opened at $111.44 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.65. The company’s 50-day moving average price is $113.90 and its 200 day moving average price is $103.37. The company has a market cap of $914.92 million, a PE ratio of 10.75 and a beta of 0.58. Northeast Bancorp has a fifty-two week low of $78.17 and a fifty-two week high of $126.25.

Northeast Bancorp (NASDAQ:NBN) last announced its quarterly earnings results on Monday, January 26th. The financial services provider reported $2.47 EPS for the quarter, beating the consensus estimate 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date was Wednesday, February 11th. Northeast Bancorp’s dividend payout ratio (DPR) is currently 0.39%.

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.