Vanguard Group Inc. Has $45.16 Million Stock Holdings in Northeast Bancorp $NBN

Vanguard Group Inc. grew its holdings in Northeast Bancorp (NASDAQ:NBN) by 2.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 434,490 shares of the financial services provider’s stock after acquiring an additional 9,926 shares during the period. Vanguard Group Inc. owned approximately 0.05% of Northeast Bancorp worth $45,157,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. State of Alaska Department of Revenue raised its stake in shares of Northeast Bancorp by 428.4% in the 4th quarter. State of Alaska Department of Revenue now owns 1,638 shares of the financial services provider’s stock valued at $170,000 after buying an additional 1,328 shares in the last quarter. Ritholtz Wealth Management bought a new stake in shares of Northeast Bancorp in the 4th quarter worth about $202,000. Daytona Street Capital LLC bought a new stake in shares of Northeast Bancorp in the 4th quarter worth about $659,000. SG Americas Securities LLC grew its holdings in shares of Northeast Bancorp by 35.3% in the 4th quarter. SG Americas Securities LLC now owns 23,650 shares of the financial services provider’s stock worth $2,458,000 after purchasing an additional 6,169 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Northeast Bancorp by 41.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,418 shares of the financial services provider’s stock worth $1,144,000 after purchasing an additional 3,359 shares during the last quarter.

Northeast Bancorp Stock Down 2.7%

Shares of NASDAQ:NBN opened at $115.18 on Friday. Northeast Bancorp has a 12 month low of $79.05 and a 12 month high of $135.62. The company’s 50-day moving average price is $116.86 and its two-hundred day moving average price is $108.27. The company has a quick ratio of 1.24, a current ratio of 1.13 and a debt-to-equity ratio of 0.03. The firm has a market cap of $945.63 million, a P/E ratio of 9.87 and a beta of 0.59.

Northeast Bancorp (NASDAQ:NBN) last issued its quarterly earnings data on Monday, April 27th. The financial services provider reported $3.53 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.53. Northeast Bancorp had a net margin of 25.96% and a return on equity of 18.63%. The firm had revenue of $66.62 million for the quarter, compared to analyst estimates of $61.49 million.

Northeast Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th will be given a dividend of $0.01 per share. The ex-dividend date is 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%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NBN shares. Wall Street Zen raised shares of Northeast Bancorp from a “hold” rating to a “buy” rating in a report on Saturday. Keefe, Bruyette & Woods upped their target price on shares of Northeast Bancorp from $120.00 to $128.00 and gave the stock a “market perform” rating in a report on Wednesday, April 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northeast Bancorp in a report on Monday, May 4th. Finally, Piper Sandler started coverage on shares of Northeast Bancorp in a report 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 assigned a Hold rating to the company’s stock. According to MarketBeat, Northeast Bancorp presently has an average rating of “Moderate Buy” and an average target price of $130.50.

Northeast Bancorp Company 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.