Quantinno Capital Management LP Boosts Stake in Northeast Bancorp $NBN

Quantinno Capital Management LP grew its position in shares of Northeast Bancorp (NASDAQ:NBN) by 116.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,071 shares of the financial services provider’s stock after buying an additional 15,096 shares during the quarter. Quantinno Capital Management LP’s holdings in Northeast Bancorp were worth $3,154,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NBN. OP Asset Management Ltd bought a new stake in Northeast Bancorp during the first quarter worth $33,000. Caitong International Asset Management Co. Ltd grew its stake in Northeast Bancorp by 36,700.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 368 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 367 shares during the period. Clearstead Advisors LLC increased its position 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 valued at $77,000 after purchasing an additional 489 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Northeast Bancorp by 1,071.4% during the 4th quarter. Quadrant Capital Group LLC now owns 820 shares of the financial services provider’s stock worth $85,000 after purchasing an additional 750 shares during the period. Finally, Cache Advisors LLC bought a new stake in shares of Northeast Bancorp during the 1st quarter worth $149,000.

Northeast Bancorp Price Performance

NASDAQ NBN opened at $133.44 on Friday. The company has a market cap of $1.10 billion, a PE ratio of 10.49 and a beta of 0.58. The company has a quick ratio of 1.10, a current ratio of 1.13 and a debt-to-equity ratio of 0.03. The firm’s 50-day simple moving average is $128.95 and its two-hundred day simple moving average is $121.57. Northeast Bancorp has a 52 week low of $80.75 and a 52 week 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 for the quarter, beating 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 business had revenue of $65.24 million during the quarter, compared to analyst estimates of $67.21 million.

Northeast Bancorp Announces Dividend

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

Analyst Ratings Changes

Several research firms recently weighed in on NBN. Weiss Ratings restated a “buy (b)” rating on shares of Northeast Bancorp in a research report on Friday, July 31st. Wall Street Zen cut shares of Northeast Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. Piper Sandler increased their target price on shares of Northeast Bancorp from $145.00 to $151.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Finally, Keefe, Bruyette & Woods raised their price target 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. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Northeast Bancorp has a consensus rating of “Moderate Buy” and an average 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.