Pacific Ridge Capital Partners LLC Has $13.23 Million Stock Holdings in Northeast Bancorp $NBN

Pacific Ridge Capital Partners LLC grew its stake in shares of Northeast Bancorp (NASDAQ:NBN) by 5.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 127,330 shares of the financial services provider’s stock after acquiring an additional 6,339 shares during the period. Northeast Bancorp comprises 2.9% of Pacific Ridge Capital Partners LLC’s investment portfolio, making the stock its biggest position. Pacific Ridge Capital Partners LLC’s holdings in Northeast Bancorp were worth $13,233,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC lifted its position in shares of Northeast Bancorp by 61.3% during the 1st quarter. AQR Capital Management LLC now owns 9,324 shares of the financial services provider’s stock valued at $854,000 after buying an additional 3,542 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 valued at $381,000 after purchasing an additional 175 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its stake in Northeast Bancorp by 15.7% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 2,765 shares of the financial services provider’s stock valued at $253,000 after buying an additional 375 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Northeast Bancorp by 12.5% during the first quarter. Goldman Sachs Group Inc. now owns 68,362 shares of the financial services provider’s stock worth $6,258,000 after acquiring an additional 7,579 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Northeast Bancorp during the 1st quarter valued at $411,000.

Northeast Bancorp Price Performance

Shares of NASDAQ NBN opened at $123.34 on Tuesday. Northeast Bancorp has a 1 year low of $79.05 and a 1 year high of $135.62. The stock has a market capitalization of $1.01 billion, a P/E ratio of 10.57 and a beta of 0.59. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.27 and a quick ratio of 1.24. The company’s 50-day moving average is $116.32 and its 200 day moving average is $107.72.

Northeast Bancorp (NASDAQ:NBN) last announced its quarterly earnings data on Monday, April 27th. The financial services provider reported $3.53 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.53. The business had revenue of $66.62 million for the quarter, compared to analysts’ expectations of $61.49 million. Northeast Bancorp had a net margin of 25.96% and a return on equity of 19.11%.

Northeast Bancorp Dividend Announcement

The business also recently declared 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 payout ratio is currently 0.34%.

Analysts Set New Price Targets

NBN has been the topic of a number of recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Northeast Bancorp in a report on Monday, May 4th. Keefe, Bruyette & Woods upped their price target on Northeast Bancorp from $120.00 to $128.00 and gave the company a “market perform” rating in a research report on Wednesday, April 29th. Finally, Piper Sandler initiated coverage on shares of Northeast Bancorp in a research note on Monday, March 16th. They issued an “overweight” rating and a $133.00 target price on the stock. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $130.50.

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.