Y Intercept Hong Kong Ltd Invests $534,000 in Northeast Bancorp $NBN

Y Intercept Hong Kong Ltd purchased a new stake in shares of Northeast Bancorp (NASDAQ:NBN) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,001 shares of the financial services provider’s stock, valued at approximately $534,000. Y Intercept Hong Kong Ltd owned about 0.07% of Northeast Bancorp at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Northeast Bancorp by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 397,769 shares of the financial services provider’s stock valued at $36,412,000 after acquiring an additional 14,773 shares during the period. Boston Partners increased its position in shares of Northeast Bancorp by 1.0% during the first quarter. Boston Partners now owns 266,664 shares of the financial services provider’s stock valued at $24,353,000 after buying an additional 2,687 shares during the period. American Century Companies Inc. grew its stake in Northeast Bancorp by 11.4% during the first quarter. American Century Companies Inc. now owns 192,279 shares of the financial services provider’s stock valued at $17,601,000 after acquiring an additional 19,741 shares in the last quarter. GW&K Investment Management LLC increased its holdings in Northeast Bancorp by 31.7% during the 1st quarter. GW&K Investment Management LLC now owns 166,672 shares of the financial services provider’s stock worth $15,257,000 after acquiring an additional 40,145 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Northeast Bancorp by 5.2% in the 1st quarter. Wellington Management Group LLP now owns 117,123 shares of the financial services provider’s stock worth $10,721,000 after purchasing an additional 5,752 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northeast Bancorp in a research report on Wednesday. Keefe, Bruyette & Woods decreased their target price on Northeast Bancorp from $107.00 to $102.00 and set a “market perform” rating for the company in a research report on Thursday, October 30th. Finally, Wall Street Zen lowered shares of Northeast Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $102.00.

Northeast Bancorp Stock Down 2.6%

NASDAQ NBN opened at $84.10 on Friday. Northeast Bancorp has a 52 week low of $78.17 and a 52 week high of $113.01. The firm has a market capitalization of $690.12 million, a price-to-earnings ratio of 7.90 and a beta of 0.60. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 0.69. The company has a fifty day moving average of $99.83 and a two-hundred day moving average of $94.30.

Northeast Bancorp (NASDAQ:NBN) last announced its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $2.67 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.01). The business had revenue of $52.88 million during the quarter, compared to the consensus estimate of $57.43 million. Northeast Bancorp had a net margin of 24.36% and a return on equity of 18.97%.

Northeast Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th will be paid a $0.01 dividend. The ex-dividend date is Monday, November 10th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Northeast Bancorp’s dividend payout ratio is presently 0.38%.

About Northeast Bancorp

Northeast Bank provides banking services to individual and corporate customers in Maine. The company's deposit products include demand deposit, NOW, money market, savings, certificate of deposit, and individual retirement accounts, as well as checking accounts. Its loan portfolio comprises residential mortgage loans; multi-family and other commercial real estate loans; commercial and industrial loans, such as term loans, lines of credit and equipment, and receivables financing; consumer loans comprising mobile home and overdraft, and deposit-secured loans; and small business administration loans.