15,349 Shares in Northeast Bancorp $NBN Acquired by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management acquired 15,349 Northeast Bancorp shares worth approximately $2.03 million, representing a 0.19% stake. Several other institutional investors also increased their positions.
• Northeast Bancorp reported quarterly EPS of $4.05, beating the $3.40 analyst consensus, while revenue of $65.24 million fell short of estimates. The stock opened at $129.23, down 0.8%.
• Analyst sentiment remains moderately positive, with a consensus “Moderate Buy” rating and a $143.50 price target. The company also paid a quarterly dividend of $0.01 per share.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Northeast Bancorp (NASDAQ:NBN - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 15,349 shares of the financial services provider's stock, valued at approximately $2,034,000. Connor Clark & Lunn Investment Management Ltd. owned 0.19% of Northeast Bancorp at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NBN. GAMMA Investing LLC grew its position in shares of Northeast Bancorp by 105.6% during the second quarter. GAMMA Investing LLC now owns 185 shares of the financial services provider's stock worth $25,000 after acquiring an additional 95 shares during the last quarter. OP Asset Management Ltd bought a new stake in Northeast Bancorp in the 1st quarter valued at about $33,000. Caitong International Asset Management Co. Ltd boosted its stake in Northeast Bancorp by 36,700.0% during 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 boosted its stake in 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 period. Finally, Quadrant Capital Group LLC grew its position in Northeast Bancorp by 1,071.4% in 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 last quarter.

Northeast Bancorp Stock Down 0.8%

Northeast Bancorp stock opened at $129.23 on Friday. Northeast Bancorp has a 52 week low of $80.75 and a 52 week high of $142.31. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 10.16 and a beta of 0.58. The company's 50-day moving average price is $131.24 and its two-hundred day moving average price is $123.08. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.03.

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

Northeast Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.04 annualized dividend and a yield of 0.0%. Northeast Bancorp's payout ratio is presently 0.31%.

Wall Street Analyst Weigh In

NBN has been the topic of a number of recent analyst reports. Wall Street Zen cut Northeast Bancorp from a "buy" rating to a "hold" rating in a report on Sunday, May 24th. Keefe, Bruyette & Woods increased their price objective on Northeast Bancorp from $128.00 to $136.00 and gave the stock a "market perform" rating in a report on Tuesday, July 28th. Weiss Ratings reissued a "buy (b)" rating on shares of Northeast Bancorp in a report on Friday, July 31st. Finally, Piper Sandler raised their target price on Northeast Bancorp from $145.00 to $151.00 and gave the company an "overweight" rating in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $143.50.

About Northeast Bancorp

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.

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