Royce & Associates LP Has $12.73 Million Stock Holdings in Northeast Bancorp $NBN

Royce & Associates LP lifted its holdings in shares of Northeast Bancorp (NASDAQ:NBN) by 26.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 122,443 shares of the financial services provider’s stock after buying an additional 25,481 shares during the period. Royce & Associates LP’s holdings in Northeast Bancorp were worth $12,726,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NBN. Clearstead Advisors LLC boosted its stake in shares of Northeast Bancorp by 194.0% during the 4th 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. PNC Financial Services Group Inc. acquired a new position in shares of Northeast Bancorp during the 3rd quarter worth about $89,000. State of Alaska Department of Revenue boosted its stake in shares of Northeast Bancorp by 428.4% during the 4th quarter. State of Alaska Department of Revenue now owns 1,638 shares of the financial services provider’s stock worth $170,000 after buying an additional 1,328 shares during the last quarter. Quantbot Technologies LP boosted its stake in shares of Northeast Bancorp by 110.9% during the 2nd quarter. Quantbot Technologies LP now owns 2,255 shares of the financial services provider’s stock worth $201,000 after buying an additional 1,186 shares during the last quarter. Finally, Ritholtz Wealth Management acquired a new position in shares of Northeast Bancorp during the 4th quarter worth about $202,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NBN shares. Keefe, Bruyette & Woods upped their target price on shares of Northeast Bancorp from $120.00 to $128.00 and gave the company 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. Piper Sandler started coverage on shares of Northeast Bancorp in a report on Monday, March 16th. They issued an “overweight” rating and a $133.00 target price on the stock. Finally, Wall Street Zen cut shares of Northeast Bancorp from a “buy” rating to a “hold” rating in a report on Sunday. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $130.50.

Northeast Bancorp Stock Down 1.3%

Northeast Bancorp stock opened at $124.98 on Thursday. The stock has a market cap of $1.03 billion, a P/E ratio of 10.71 and a beta of 0.59. The company has a quick ratio of 1.10, a current ratio of 1.13 and a debt-to-equity ratio of 0.03. Northeast Bancorp has a twelve month low of $79.05 and a twelve month high of $135.62. The company’s 50-day moving average price is $119.15 and its two-hundred day moving average price is $110.31.

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

Northeast Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend was Tuesday, May 12th. Northeast Bancorp’s dividend payout ratio is currently 0.34%.

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.