UBS Group AG Buys 19,908 Shares of Northeast Bancorp $NBN

UBS Group AG lifted its stake in shares of Northeast Bancorp (NASDAQ:NBN) by 47.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,429 shares of the financial services provider’s stock after purchasing an additional 19,908 shares during the period. UBS Group AG owned 0.75% of Northeast Bancorp worth $6,384,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Earnest Partners LLC bought a new stake in shares of Northeast Bancorp during the 3rd quarter worth approximately $67,225,000. Vanguard Group Inc. raised its stake in shares of Northeast Bancorp by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 434,490 shares of the financial services provider’s stock worth $45,157,000 after purchasing an additional 9,926 shares in the last quarter. Boston Partners raised its stake in shares of Northeast Bancorp by 0.4% during the 3rd quarter. Boston Partners now owns 271,711 shares of the financial services provider’s stock worth $27,018,000 after purchasing an additional 1,029 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Northeast Bancorp by 8.5% during the 3rd quarter. American Century Companies Inc. now owns 220,712 shares of the financial services provider’s stock worth $22,107,000 after purchasing an additional 17,344 shares in the last quarter. Finally, Kennedy Capital Management LLC raised its stake in shares of Northeast Bancorp by 13.5% during the 3rd quarter. Kennedy Capital Management LLC now owns 204,112 shares of the financial services provider’s stock worth $20,444,000 after purchasing an additional 24,327 shares in the last quarter.

Northeast Bancorp Stock Down 0.6%

NBN opened at $117.57 on Wednesday. Northeast Bancorp has a 1-year low of $79.05 and a 1-year high of $135.62. The stock’s fifty day simple moving average is $117.27 and its 200 day simple moving average is $108.70. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.03. The stock has a market cap of $965.25 million, a PE ratio of 10.07 and a beta of 0.59.

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

Northeast Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th will be 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 is Tuesday, May 12th. Northeast Bancorp’s dividend payout ratio is 0.34%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Piper Sandler assumed coverage on Northeast Bancorp in a research note on Monday, March 16th. They set an “overweight” rating and a $133.00 price objective on the stock. Wall Street Zen upgraded Northeast Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday. Keefe, Bruyette & Woods upped their price objective on Northeast Bancorp from $120.00 to $128.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Northeast Bancorp in a research note on Monday, May 4th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Northeast Bancorp has an average rating of “Moderate Buy” and an average target price of $130.50.

About Northeast Bancorp

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.