Boston Partners Has $24.42 Million Stock Holdings in Northeast Bancorp $NBN

Boston Partners lifted its position in Northeast Bancorp (NASDAQ:NBN) by 1.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 270,682 shares of the financial services provider’s stock after purchasing an additional 4,018 shares during the period. Boston Partners’ holdings in Northeast Bancorp were worth $24,417,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. CWM LLC raised its holdings in Northeast Bancorp by 136.8% in the 1st quarter. CWM LLC now owns 438 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 253 shares during the period. GW&K Investment Management LLC grew its position in shares of Northeast Bancorp by 31.7% in the first quarter. GW&K Investment Management LLC now owns 166,672 shares of the financial services provider’s stock valued at $15,257,000 after purchasing an additional 40,145 shares during the last quarter. KLP Kapitalforvaltning AS increased its stake in shares of Northeast Bancorp by 178.6% in the first quarter. KLP Kapitalforvaltning AS now owns 3,900 shares of the financial services provider’s stock worth $357,000 after purchasing an additional 2,500 shares during the period. Royce & Associates LP increased its stake in shares of Northeast Bancorp by 87.3% in the first quarter. Royce & Associates LP now owns 98,438 shares of the financial services provider’s stock worth $9,011,000 after purchasing an additional 45,893 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Northeast Bancorp by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 397,769 shares of the financial services provider’s stock worth $36,412,000 after purchasing an additional 14,773 shares during the last quarter.

Northeast Bancorp Price Performance

Shares of NASDAQ:NBN opened at $84.09 on Friday. Northeast Bancorp has a 1-year low of $78.17 and a 1-year high of $113.01. The firm has a market capitalization of $690.04 million, a PE ratio of 7.90 and a beta of 0.60. The business’s 50 day moving average is $97.34 and its 200-day moving average is $94.12. The company has a current ratio of 1.24, a quick ratio of 1.23 and a debt-to-equity ratio of 0.69.

Northeast Bancorp (NASDAQ:NBN) last issued its earnings results on Tuesday, October 28th. The financial services provider reported $2.67 EPS for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.01). Northeast Bancorp had a net margin of 24.36% and a return on equity of 18.97%. The firm had revenue of $52.88 million during the quarter, compared to analyst estimates of $57.43 million.

Northeast Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, November 11th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend is Monday, November 10th. Northeast Bancorp’s dividend payout ratio is 0.38%.

Analysts Set New Price Targets

NBN has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Northeast Bancorp in a report on Tuesday. Keefe, Bruyette & Woods reduced their price objective on Northeast Bancorp from $107.00 to $102.00 and set a “market perform” rating for the company in a research report on Thursday, October 30th. Finally, Wall Street Zen downgraded shares of Northeast Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Northeast Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $102.00.

About Northeast Bancorp

Northeast Bank provides banking services to individual and corporate customers in Maine. The company's deposit products include demand deposit, NOW, money market, savings, certificate of deposit, and individual retirement accounts, as well as checking accounts. Its loan portfolio comprises residential mortgage loans; multi-family and other commercial real estate loans; commercial and industrial loans, such as term loans, lines of credit and equipment, and receivables financing; consumer loans comprising mobile home and overdraft, and deposit-secured loans; and small business administration loans.