Northeast Bancorp $NBN Stock Holdings Increased by Hingham Institution for Savings

Hingham Institution for Savings lifted its position in Northeast Bancorp (NASDAQ:NBN) by 75.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,000 shares of the financial services provider’s stock after buying an additional 9,000 shares during the period. Northeast Bancorp comprises 2.0% of Hingham Institution for Savings’ holdings, making the stock its 8th largest position. Hingham Institution for Savings owned 0.26% of Northeast Bancorp worth $2,597,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in NBN. Engineers Gate Manager LP acquired a new position in Northeast Bancorp in the second quarter valued at about $1,109,000. Bank of New York Mellon Corp acquired a new stake in shares of Northeast Bancorp during the second quarter worth about $4,747,000. Squarepoint Ops LLC raised its position in shares of Northeast Bancorp by 335.6% during the second quarter. Squarepoint Ops LLC now owns 33,084 shares of the financial services provider’s stock worth $4,385,000 after purchasing an additional 25,489 shares during the period. Quantinno Capital Management LP raised its position in shares of Northeast Bancorp by 116.3% during the first quarter. Quantinno Capital Management LP now owns 28,071 shares of the financial services provider’s stock worth $3,154,000 after purchasing an additional 15,096 shares during the period. Finally, Man Group plc bought a new position in shares of Northeast Bancorp during the 2nd quarter valued at about $2,402,000.

Analyst Upgrades and Downgrades

NBN has been the subject of several research analyst reports. Keefe, Bruyette & Woods boosted their price objective on Northeast Bancorp from $128.00 to $136.00 and gave the company a “market perform” rating in a research report on Tuesday, July 28th. Weiss Ratings reissued a “buy (b)” rating on shares of Northeast Bancorp in a research note on Friday, July 31st. Finally, Piper Sandler raised their target price on shares of Northeast Bancorp from $145.00 to $151.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $143.50.

Northeast Bancorp Stock Down 0.5%

Shares of Northeast Bancorp stock opened at $124.75 on Tuesday. The business’s 50 day simple moving average is $129.38 and its 200 day simple moving average is $127.18. Northeast Bancorp has a 52-week low of $80.75 and a 52-week high of $142.31. The firm has a market cap of $1.02 billion, a PE ratio of 9.81 and a beta of 0.60. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.32 and a current ratio of 1.35.

Northeast Bancorp (NASDAQ:NBN) last released its quarterly earnings results on Monday, July 27th. The financial services provider reported $4.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.40 by $0.65. Northeast Bancorp had a return on equity of 19.35% and a net margin of 27.91%. The firm had revenue of $65.24 million during the quarter, compared to the consensus estimate of $67.21 million.

Northeast Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 10th were issued a $0.01 dividend. 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 0.31%.

Northeast Bancorp Company Profile

Northeast Bancorp is the bank holding company for Northeast Bank, a full-service financial institution headquartered in Lewiston, Maine. The bank provides deposit accounts, commercial and consumer loans, residential real estate lending, cash management, online banking and other financial services to individuals, families and businesses.

Northeast Bank operates through two primary business areas. Its Community Banking division serves customers in Maine through a network of branches and other delivery channels, while its national SBA Lending division provides financing to small businesses across the United States, including loans guaranteed through the U.S.