Hingham Institution for Savings Buys Shares of 12,000 Northeast Bancorp $NBN

Key Points

• Hingham Institution for Savings acquired 12,000 shares of Northeast Bancorp during the second quarter, worth approximately $1.59 million and representing 0.15% of the company.
• Northeast Bancorp reported quarterly EPS of $4.05, exceeding the $3.40 analyst consensus, though revenue of $65.24 million fell short of the $67.21 million estimate.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $143.50; shares recently traded at $132.86.

Hingham Institution for Savings purchased a new position in shares of Northeast Bancorp (NASDAQ:NBN - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,000 shares of the financial services provider's stock, valued at approximately $1,590,000. Northeast Bancorp accounts for about 1.2% of Hingham Institution for Savings' investment portfolio, making the stock its 12th biggest holding. Hingham Institution for Savings owned 0.15% of Northeast Bancorp at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC lifted its stake in Northeast Bancorp by 105.6% in the second quarter. GAMMA Investing LLC now owns 185 shares of the financial services provider's stock valued at $25,000 after buying an additional 95 shares in the last quarter. OP Asset Management Ltd acquired a new position in Northeast Bancorp in the 1st quarter worth $33,000. Caitong International Asset Management Co. Ltd boosted 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 worth $38,000 after purchasing an additional 367 shares during the period. Clearstead Advisors LLC increased its holdings in Northeast Bancorp by 194.0% during the 4th quarter. Clearstead Advisors LLC now owns 741 shares of the financial services provider's stock worth $77,000 after purchasing an additional 489 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of 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 valued at $85,000 after purchasing an additional 750 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NBN shares. Piper Sandler upped their price objective on Northeast Bancorp from $145.00 to $151.00 and gave the stock an "overweight" rating in a research report on Monday, August 3rd. Wall Street Zen lowered Northeast Bancorp from a "buy" rating to a "hold" rating in a research report on Sunday, May 24th. Keefe, Bruyette & Woods upped their price target on Northeast Bancorp from $128.00 to $136.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Northeast Bancorp in a research note on Friday, July 31st. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Northeast Bancorp has a consensus rating of "Moderate Buy" and a consensus price target of $143.50.

Northeast Bancorp Price Performance

NASDAQ:NBN opened at $132.86 on Friday. The stock has a market capitalization of $1.09 billion, a PE ratio of 10.44 and a beta of 0.58. Northeast Bancorp has a 1-year low of $80.75 and a 1-year high of $142.31. The firm has a fifty day simple moving average of $131.19 and a 200 day simple moving average of $123.35. 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 announced its quarterly earnings data on Monday, July 27th. The financial services provider reported $4.05 EPS for the quarter, beating analysts' consensus estimates of $3.40 by $0.65. The company had revenue of $65.24 million during the quarter, compared to the consensus estimate of $67.21 million. Northeast Bancorp had a net margin of 27.91% and a return on equity of 19.94%.

Northeast Bancorp Announces Dividend

The firm also recently declared 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 was Monday, August 10th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Northeast Bancorp's dividend payout ratio (DPR) is presently 0.31%.

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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