Northeast Bancorp $NBN Shares Acquired by Sei Investments Co.

Sei Investments Co. lifted its holdings in shares of Northeast Bancorp (NASDAQ:NBN) by 82.5% during the first quarter, Holdings Channel.com reports. The fund owned 35,272 shares of the financial services provider’s stock after acquiring an additional 15,944 shares during the period. Sei Investments Co.’s holdings in Northeast Bancorp were worth $3,964,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Northeast Bancorp by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 434,490 shares of the financial services provider’s stock valued at $45,157,000 after purchasing an additional 9,926 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Northeast Bancorp by 3.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 333,281 shares of the financial services provider’s stock worth $37,449,000 after purchasing an additional 11,168 shares in the last quarter. Boston Partners grew its position in 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 during the last quarter. Ampfield Management L.P. acquired a new position in Northeast Bancorp during the 1st quarter valued at approximately $19,500,000. Finally, GW&K Investment Management LLC increased its stake in Northeast Bancorp by 7.6% during the 4th quarter. GW&K Investment Management LLC now owns 172,575 shares of the financial services provider’s stock valued at $17,936,000 after purchasing an additional 12,224 shares in the last quarter.

Northeast Bancorp Price Performance

Shares of NASDAQ:NBN opened at $133.57 on Friday. Northeast Bancorp has a twelve month low of $80.75 and a twelve month high of $142.31. The company’s 50 day moving average is $128.79 and its 200 day moving average is $121.49. 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 company has a market cap of $1.10 billion, a PE ratio of 10.50 and a beta of 0.58.

Northeast Bancorp (NASDAQ:NBN) last posted its quarterly earnings results on Monday, July 27th. The financial services provider reported $4.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.40 by $0.65. Northeast Bancorp had a net margin of 27.91% and a return on equity of 19.94%. The company had revenue of $65.24 million during the quarter, compared to analyst estimates of $67.21 million.

Northeast Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 10th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend is Monday, August 10th. Northeast Bancorp’s dividend payout ratio (DPR) is 0.31%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NBN. Keefe, Bruyette & Woods lifted their price objective on shares of Northeast Bancorp from $128.00 to $136.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 28th. Wall Street Zen downgraded Northeast Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Weiss Ratings restated a “buy (b)” rating on shares of Northeast Bancorp in a research note on Friday, July 31st. Finally, Piper Sandler lifted their price target on Northeast Bancorp from $145.00 to $151.00 and gave the stock an “overweight” rating in a research report on Monday. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.50.

Northeast Bancorp Company 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.