Corient Private Wealth LP Purchases New Shares in Northeast Bancorp $NBN

Corient Private Wealth LP purchased a new position in Northeast Bancorp (NASDAQ:NBN - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 13,927 shares of the financial services provider's stock, valued at approximately $1,846,000. Corient Private Wealth LP owned approximately 0.17% of Northeast Bancorp as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in NBN. BlackRock Inc. purchased a new position in Northeast Bancorp during the second quarter valued at $83,160,000. Vanguard Group Inc. increased its stake in shares of Northeast Bancorp by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 434,490 shares of the financial services provider's stock worth $45,157,000 after purchasing an additional 9,926 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Northeast Bancorp by 3.5% during 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 during the last quarter. Boston Partners lifted its stake in Northeast Bancorp by 0.4% in the 3rd quarter. Boston Partners now owns 271,711 shares of the financial services provider's stock valued at $27,018,000 after buying an additional 1,029 shares in the last quarter. Finally, Ampfield Management L.P. purchased a new position in Northeast Bancorp in the 1st quarter valued at about $19,500,000.

Northeast Bancorp Stock Performance

NASDAQ NBN opened at $131.73 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.10 and a current ratio of 1.13. The stock's fifty day moving average is $131.19 and its two-hundred day moving average is $123.28. The firm has a market capitalization of $1.08 billion, a P/E ratio of 10.36 and a beta of 0.58. Northeast Bancorp has a fifty-two week low of $80.75 and a fifty-two week high of $142.31.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) last issued its 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. The business had revenue of $65.24 million during the quarter, compared to the consensus estimate of $67.21 million. Northeast Bancorp had a return on equity of 19.94% and a net margin of 27.91%.

Northeast Bancorp Dividend Announcement

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

Analysts Set New Price Targets

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

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