Northeast Bancorp $NBN Shares Bought by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its Northeast Bancorp stake by 3.5% in the first quarter, adding 11,168 shares to own 333,281 shares, or 4.06% of the company, valued at approximately $37.4 million.
• Northeast Bancorp reported quarterly EPS of $4.05, exceeding analyst expectations of $3.40, although revenue of $65.24 million fell short of the $67.21 million estimate.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $143.50; the company also declared a quarterly dividend of $0.01 per share.

Dimensional Fund Advisors LP grew its position in shares of Northeast Bancorp (NASDAQ:NBN - Free Report) by 3.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 333,281 shares of the financial services provider's stock after buying an additional 11,168 shares during the quarter. Dimensional Fund Advisors LP owned 4.06% of Northeast Bancorp worth $37,449,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. OP Asset Management Ltd purchased a new stake in shares of Northeast Bancorp in the first quarter valued at about $33,000. Caitong International Asset Management Co. Ltd raised its holdings in Northeast Bancorp by 36,700.0% during the fourth 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 in the last quarter. Clearstead Advisors LLC lifted its position in Northeast Bancorp by 194.0% in the fourth 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. Quadrant Capital Group LLC lifted its position in Northeast Bancorp by 1,071.4% in the fourth 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. Finally, Cache Advisors LLC acquired a new stake in Northeast Bancorp in the first quarter valued at about $149,000.

Analyst Upgrades and Downgrades

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

Northeast Bancorp Stock Up 6.6%

NBN stock opened at $132.39 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.03. The company's 50-day moving average price is $128.26 and its 200 day moving average price is $121.06. Northeast Bancorp has a 52 week low of $80.75 and a 52 week high of $142.31. The company has a market cap of $1.09 billion, a P/E ratio of 10.41 and a beta of 0.58.

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, beating analysts' consensus estimates of $3.40 by $0.65. The company had revenue of $65.24 million during the quarter, compared to analysts' expectations 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 will be paid on Monday, August 24th. Shareholders of record on Monday, August 10th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend is Monday, August 10th. Northeast Bancorp's dividend payout ratio is 0.31%.

Northeast Bancorp 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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