Renaissance Technologies LLC Sells 18,500 Shares of Northeast Bancorp $NBN

Renaissance Technologies LLC cut its holdings in Northeast Bancorp (NASDAQ:NBN) by 26.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 50,245 shares of the financial services provider’s stock after selling 18,500 shares during the quarter. Renaissance Technologies LLC owned 0.61% of Northeast Bancorp worth $5,646,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Arcus Capital Partners LLC lifted its position in Northeast Bancorp by 2.1% during the first quarter. Arcus Capital Partners LLC now owns 4,868 shares of the financial services provider’s stock valued at $547,000 after purchasing an additional 99 shares during the last quarter. Jump Financial LLC grew its stake in shares of Northeast Bancorp by 5.2% in the 2nd quarter. Jump Financial LLC now owns 3,129 shares of the financial services provider’s stock worth $278,000 after buying an additional 154 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 buying an additional 175 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Northeast Bancorp by 8.0% in the 1st quarter. Cetera Investment Advisers now owns 2,475 shares of the financial services provider’s stock worth $278,000 after buying an additional 184 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Northeast Bancorp by 2.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,377 shares of the financial services provider’s stock valued at $1,182,000 after buying an additional 225 shares in the last quarter.

Northeast Bancorp Price Performance

Northeast Bancorp stock opened at $133.62 on Thursday. The firm has a 50-day moving average price of $128.60 and a 200-day moving average price of $121.35. The firm has a market capitalization of $1.10 billion, a PE ratio of 10.50 and a beta of 0.58. 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 12-month low of $80.75 and a 12-month high of $142.31.

Northeast Bancorp (NASDAQ:NBN) last released its quarterly earnings results on Monday, July 27th. The financial services provider reported $4.05 EPS for the quarter, topping analysts’ consensus estimates of $3.40 by $0.65. The firm had revenue of $65.24 million during the quarter, compared to analysts’ expectations of $67.21 million. Northeast Bancorp had a net margin of 27.91% and a return on equity of 19.94%.

Northeast Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 10th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date is Monday, August 10th. Northeast Bancorp’s payout ratio is 0.31%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Keefe, Bruyette & Woods increased their price target on shares of Northeast Bancorp from $128.00 to $136.00 and gave the company a “market perform” rating in a report on Tuesday, July 28th. Weiss Ratings reissued a “buy (b)” rating on shares of Northeast Bancorp in a research note on Friday, July 31st. Wall Street Zen downgraded Northeast Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Finally, Piper Sandler raised their price objective on Northeast Bancorp from $145.00 to $151.00 and gave the company an “overweight” rating in a research note on Monday. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $143.50.

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.