Hingham Institution for Savings Acquires 9,000 Shares of Northeast Bancorp $NBN

Hingham Institution for Savings grew its holdings in shares of Northeast Bancorp (NASDAQ:NBN) by 75.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,000 shares of the financial services provider’s stock after buying an additional 9,000 shares during the quarter. Northeast Bancorp makes up 2.0% of Hingham Institution for Savings’ portfolio, making the stock its 8th largest position. Hingham Institution for Savings’ holdings in Northeast Bancorp were worth $2,597,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of Northeast Bancorp by 105.6% during the 2nd quarter. GAMMA Investing LLC now owns 185 shares of the financial services provider’s stock worth $25,000 after buying an additional 95 shares during the last quarter. OP Asset Management Ltd acquired a new stake in shares of Northeast Bancorp in the first quarter valued at about $33,000. Fortitude Family Office LLC increased its position in shares of Northeast Bancorp by 368.1% in the third quarter. Fortitude Family Office LLC now owns 323 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 254 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Northeast Bancorp by 36,700.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 368 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 367 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in Northeast Bancorp during the second quarter worth about $72,000.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NBN. Piper Sandler upped their target price on Northeast Bancorp from $145.00 to $151.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods raised their price target on Northeast Bancorp from $128.00 to $136.00 and gave the company a “market perform” rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northeast Bancorp in a research report on Friday, July 31st. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $143.50.

Northeast Bancorp Price Performance

NASDAQ:NBN opened at $124.75 on Tuesday. The company has a quick ratio of 1.32, a current ratio of 1.35 and a debt-to-equity ratio of 1.42. The stock’s 50 day moving average price is $129.38 and its two-hundred day moving average price is $127.18. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 9.81 and a beta of 0.60. 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 data on Monday, July 27th. The financial services provider reported $4.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.40 by $0.65. Northeast Bancorp had a return on equity of 19.35% and a net margin of 27.91%. The company had revenue of $65.24 million during the quarter, compared to analysts’ expectations of $67.21 million.

Northeast Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were 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 was Monday, August 10th. Northeast Bancorp’s dividend payout ratio is 0.31%.

About Northeast Bancorp

Northeast Bancorp is the bank holding company for Northeast Bank, a full-service financial institution headquartered in Lewiston, Maine. The bank provides deposit accounts, commercial and consumer loans, residential real estate lending, cash management, online banking and other financial services to individuals, families and businesses.

Northeast Bank operates through two primary business areas. Its Community Banking division serves customers in Maine through a network of branches and other delivery channels, while its national SBA Lending division provides financing to small businesses across the United States, including loans guaranteed through the U.S.