Oppenheimer Asset Management Inc. Acquires New Holdings in Northeast Bancorp $NBN

Oppenheimer Asset Management Inc. acquired a new position in Northeast Bancorp (NASDAQ:NBN) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 11,288 shares of the financial services provider’s stock, valued at approximately $1,131,000.

Several other large investors have also recently bought and sold shares of NBN. SG Americas Securities LLC lifted its holdings in Northeast Bancorp by 1,189.2% in the 3rd quarter. SG Americas Securities LLC now owns 17,481 shares of the financial services provider’s stock valued at $1,751,000 after acquiring an additional 16,125 shares during the last quarter. Boston Partners increased its holdings in shares of Northeast Bancorp by 1.5% in the second quarter. Boston Partners now owns 270,682 shares of the financial services provider’s stock valued at $24,417,000 after buying an additional 4,018 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Northeast Bancorp by 8.6% during the 2nd quarter. Geode Capital Management LLC now owns 179,131 shares of the financial services provider’s stock valued at $15,942,000 after acquiring an additional 14,118 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Northeast Bancorp by 19.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,799 shares of the financial services provider’s stock worth $1,139,000 after acquiring an additional 2,050 shares in the last quarter. Finally, KLP Kapitalforvaltning AS grew its holdings in shares of Northeast Bancorp by 30.8% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 5,100 shares of the financial services provider’s stock worth $454,000 after acquiring an additional 1,200 shares during the last quarter.

Northeast Bancorp Trading Up 0.1%

NASDAQ:NBN opened at $120.54 on Friday. The stock has a market cap of $989.15 million, a PE ratio of 11.62 and a beta of 0.57. Northeast Bancorp has a fifty-two week low of $78.17 and a fifty-two week high of $126.25. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.25 and a quick ratio of 1.25. The stock’s 50-day moving average is $110.54 and its two-hundred day moving average is $101.88.

Northeast Bancorp (NASDAQ:NBN) last announced its quarterly earnings data on Monday, January 26th. The financial services provider reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.09. Northeast Bancorp had a net margin of 24.16% and a return on equity of 17.73%. The firm had revenue of $51.77 million for the quarter, compared to the consensus estimate of $54.83 million.

Northeast Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Northeast Bancorp’s dividend payout ratio (DPR) is presently 0.39%.

Wall Street Analysts Forecast Growth

NBN has been the subject of several analyst reports. Wall Street Zen downgraded Northeast Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Weiss Ratings restated a “buy (b-)” rating on shares of Northeast Bancorp in a report on Monday, December 29th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Northeast Bancorp from $107.00 to $102.00 and set a “market perform” rating for the company in a report on Thursday, October 30th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $102.00.

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.