Quantbot Technologies LP Takes Position in Northeast Bancorp $NBN

Quantbot Technologies LP acquired a new stake in shares of Northeast Bancorp (NASDAQ:NBN) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,821 shares of the financial services provider’s stock, valued at approximately $2,097,000.

A number of other institutional investors also recently modified their holdings of NBN. GAMMA Investing LLC lifted its holdings in shares of Northeast Bancorp by 105.6% in the 2nd quarter. GAMMA Investing LLC now owns 185 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 95 shares in the last quarter. OP Asset Management Ltd bought a new stake in Northeast Bancorp during the 1st quarter valued at $33,000. Caitong International Asset Management Co. Ltd increased its stake in Northeast Bancorp by 36,700.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 368 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 367 shares in the last quarter. Clearstead Advisors LLC raised its holdings in Northeast Bancorp by 194.0% during the fourth quarter. Clearstead Advisors LLC now owns 741 shares of the financial services provider’s stock worth $77,000 after buying an additional 489 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in Northeast Bancorp by 1,071.4% during the fourth quarter. Quadrant Capital Group LLC now owns 820 shares of the financial services provider’s stock worth $85,000 after buying an additional 750 shares during the last quarter.

Wall Street Analysts Forecast Growth

NBN has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Northeast Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. Keefe, Bruyette & Woods boosted their target price on shares of Northeast Bancorp from $128.00 to $136.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 28th. Piper Sandler upped their target price on shares of Northeast Bancorp from $145.00 to $151.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northeast Bancorp in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $143.50.

Northeast Bancorp Trading Down 0.7%

Shares of Northeast Bancorp stock opened at $129.53 on Tuesday. The company has a market capitalization of $1.06 billion, a P/E ratio of 10.18 and a beta of 0.58. The stock has a fifty day simple moving average of $131.02 and a 200 day simple moving average of $122.91. Northeast Bancorp has a 12-month low of $80.75 and a 12-month high of $142.31. 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 (NASDAQ:NBN) last posted its quarterly earnings data on Monday, July 27th. The financial services provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.40 by $0.65. The firm had revenue of $65.24 million during the quarter, compared to analyst estimates of $67.21 million. Northeast Bancorp had a net margin of 27.91% and a return on equity of 19.94%.

Northeast Bancorp Announces Dividend

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

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.