Royce & Associates LP Acquires 25,481 Shares of Northeast Bancorp $NBN

Royce & Associates LP raised its holdings in shares of Northeast Bancorp (NASDAQ:NBN) by 26.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 122,443 shares of the financial services provider’s stock after acquiring an additional 25,481 shares during the period. Royce & Associates LP owned approximately 1.49% of Northeast Bancorp worth $12,726,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Earnest Partners LLC bought a new stake in shares of Northeast Bancorp during the 3rd quarter valued at $67,225,000. Vanguard Group Inc. increased its position in shares of Northeast Bancorp by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 434,490 shares of the financial services provider’s stock valued at $45,157,000 after buying an additional 9,926 shares in the last quarter. Boston Partners increased its position in shares of Northeast Bancorp by 0.4% in the 3rd quarter. Boston Partners now owns 271,711 shares of the financial services provider’s stock valued at $27,018,000 after buying an additional 1,029 shares in the last quarter. American Century Companies Inc. increased its position 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 in the last quarter. Finally, Kennedy Capital Management LLC increased its position in shares of Northeast Bancorp by 13.5% in the 3rd quarter. Kennedy Capital Management LLC now owns 204,112 shares of the financial services provider’s stock valued at $20,444,000 after buying an additional 24,327 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Piper Sandler assumed coverage on shares of Northeast Bancorp in a research report on Monday, March 16th. They issued an “overweight” rating and a $133.00 price objective for the company. Keefe, Bruyette & Woods upped their price objective on shares of Northeast Bancorp from $120.00 to $128.00 and gave the company a “market perform” rating in a research report on Wednesday, April 29th. Wall Street Zen cut shares of Northeast Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Northeast Bancorp in a research report on Monday, May 4th. 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.com, Northeast Bancorp currently has an average rating of “Moderate Buy” and an average price target of $130.50.

Northeast Bancorp Price Performance

Shares of NASDAQ NBN opened at $124.98 on Thursday. The firm has a market cap of $1.03 billion, a PE ratio of 10.71 and a beta of 0.59. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.03. Northeast Bancorp has a 1-year low of $79.05 and a 1-year high of $135.62. The company has a fifty day moving average price of $119.15 and a 200 day moving average price of $110.31.

Northeast Bancorp (NASDAQ:NBN) last announced its earnings results 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 firm had revenue of $66.62 million during the quarter, compared to analyst estimates of $61.49 million. Northeast Bancorp had a net margin of 25.96% and a return on equity of 18.63%.

Northeast Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th were paid a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Northeast Bancorp’s dividend payout ratio is presently 0.34%.

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.