Kennedy Capital Management LLC Has $20.44 Million Stake in Northeast Bancorp $NBN

Kennedy Capital Management LLC lifted its position in shares of Northeast Bancorp (NASDAQ:NBN) by 13.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 204,112 shares of the financial services provider’s stock after buying an additional 24,327 shares during the quarter. Kennedy Capital Management LLC’s holdings in Northeast Bancorp were worth $20,444,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of NBN. Arrowstreet Capital Limited Partnership grew its holdings in Northeast Bancorp by 8.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 26,495 shares of the financial services provider’s stock worth $2,654,000 after acquiring an additional 2,053 shares during the period. Invesco Ltd. grew its stake in Northeast Bancorp by 22.2% during the third quarter. Invesco Ltd. now owns 77,833 shares of the financial services provider’s stock worth $7,796,000 after purchasing an additional 14,127 shares during the period. Gator Capital Management LLC increased its holdings in Northeast Bancorp by 0.9% in the third quarter. Gator Capital Management LLC now owns 74,083 shares of the financial services provider’s stock worth $7,420,000 after purchasing an additional 650 shares in the last quarter. Sei Investments Co. acquired a new position in Northeast Bancorp in the third quarter valued at approximately $473,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Northeast Bancorp by 38.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,605 shares of the financial services provider’s stock worth $662,000 after buying an additional 1,835 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Northeast Bancorp in a research report on Monday, December 29th. One investment analyst has 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 stock presently has a consensus rating of “Moderate Buy” and an average target price of $102.00.

Northeast Bancorp Stock Up 1.3%

Shares of NASDAQ NBN traded up $1.42 during midday trading on Friday, hitting $110.22. 44,430 shares of the stock traded hands, compared to its average volume of 111,328. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.25 and a current ratio of 1.25. Northeast Bancorp has a one year low of $78.17 and a one year high of $126.25. The business has a 50 day moving average price of $114.28 and a two-hundred day moving average price of $103.61. The company has a market cap of $904.87 million, a PE ratio of 10.63 and a beta of 0.58.

Northeast Bancorp (NASDAQ:NBN) last posted its quarterly earnings results on Monday, January 26th. The financial services provider reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.09. Northeast Bancorp had a net margin of 24.16% and a return on equity of 17.73%. The business had revenue of $51.77 million during the quarter, compared to the consensus estimate of $54.83 million.

Northeast Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were paid a dividend of $0.01 per share. The ex-dividend date was Wednesday, February 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Northeast Bancorp’s payout ratio is 0.39%.

Northeast Bancorp 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.