SG Americas Securities LLC Has $1.75 Million Holdings in Northeast Bancorp $NBN

SG Americas Securities LLC increased its position in Northeast Bancorp (NASDAQ:NBN) by 1,189.2% during the third quarter, Holdings Channel.com reports. The firm owned 17,481 shares of the financial services provider’s stock after buying an additional 16,125 shares during the quarter. SG Americas Securities LLC’s holdings in Northeast Bancorp were worth $1,751,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Boston Partners raised its holdings in shares of Northeast Bancorp by 1.5% in the 2nd quarter. Boston Partners now owns 270,682 shares of the financial services provider’s stock worth $24,417,000 after acquiring an additional 4,018 shares during the last quarter. Geode Capital Management LLC increased its holdings in Northeast Bancorp by 8.6% during the 2nd quarter. Geode Capital Management LLC now owns 179,131 shares of the financial services provider’s stock worth $15,942,000 after purchasing an additional 14,118 shares in the last quarter. Corton Capital Inc. purchased a new stake in shares of Northeast Bancorp in the second quarter worth approximately $269,000. KLP Kapitalforvaltning AS raised its stake in shares of Northeast Bancorp by 30.8% in the second quarter. KLP Kapitalforvaltning AS now owns 5,100 shares of the financial services provider’s stock worth $454,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Northeast Bancorp by 19.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,799 shares of the financial services provider’s stock valued at $1,139,000 after purchasing an additional 2,050 shares in the last quarter.

Northeast Bancorp Stock Up 3.3%

NBN stock opened at $112.02 on Thursday. The stock has a market cap of $919.68 million, a P/E ratio of 10.53 and a beta of 0.54. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.65. The stock’s fifty day simple moving average is $96.61 and its two-hundred day simple moving average is $98.44. Northeast Bancorp has a 1-year low of $78.17 and a 1-year high of $113.47.

Northeast Bancorp (NASDAQ:NBN) last released 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). The business had revenue of $52.88 million for the quarter, compared to the consensus estimate of $57.43 million. Northeast Bancorp had a return on equity of 18.52% and a net margin of 24.36%.

Northeast Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date was Monday, November 10th. Northeast Bancorp’s payout ratio is presently 0.38%.

Wall Street Analyst Weigh In

NBN has been the subject of several recent research reports. Keefe, Bruyette & Woods decreased their price target on Northeast Bancorp from $107.00 to $102.00 and set a “market perform” rating for the company in a report on Thursday, October 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northeast Bancorp in a research note on Monday, December 29th. Finally, Wall Street Zen lowered shares of Northeast Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Northeast Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.00.

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.