Emerald Mutual Fund Advisers Trust Has $2.04 Million Stake in Northeast Bancorp $NBN

Emerald Mutual Fund Advisers Trust trimmed its stake in Northeast Bancorp (NASDAQ:NBN) by 18.5% during the first quarter, HoldingsChannel.com reports. The fund owned 18,155 shares of the financial services provider’s stock after selling 4,134 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in Northeast Bancorp were worth $2,040,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. AQR Capital Management LLC lifted its holdings in shares of Northeast Bancorp by 61.3% during the first quarter. AQR Capital Management LLC now owns 9,324 shares of the financial services provider’s stock valued at $854,000 after acquiring an additional 3,542 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Northeast Bancorp by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,157 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 175 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its position in shares of Northeast Bancorp by 15.7% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 2,765 shares of the financial services provider’s stock worth $253,000 after purchasing an additional 375 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Northeast Bancorp by 12.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 68,362 shares of the financial services provider’s stock worth $6,258,000 after purchasing an additional 7,579 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in Northeast Bancorp during the 1st quarter valued at about $411,000.

Northeast Bancorp Price Performance

Shares of NBN stock opened at $131.20 on Tuesday. Northeast Bancorp has a 52 week low of $80.75 and a 52 week high of $142.31. The stock has a market capitalization of $1.08 billion, a PE ratio of 11.24 and a beta of 0.58. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.10 and a current ratio of 1.13. The stock’s fifty day moving average is $126.11 and its 200-day moving average is $118.68.

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

Northeast Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders 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 dividend yield of 0.0%. Northeast Bancorp’s payout ratio is currently 0.34%.

Analysts Set New Price Targets

NBN has been the topic of a number of recent analyst reports. Piper Sandler initiated coverage on shares of Northeast Bancorp in a research report on Monday, March 16th. They issued an “overweight” rating and a $133.00 price target on the stock. Keefe, Bruyette & Woods raised their price objective 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, Wall Street Zen cut shares of Northeast Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $130.50.

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.