Quantbot Technologies LP Makes New Investment in Northeast Bancorp $NBN

Quantbot Technologies LP purchased a new position in Northeast Bancorp (NASDAQ:NBN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 15,821 shares of the financial services provider's stock, valued at approximately $2,097,000. Quantbot Technologies LP owned 0.19% of Northeast Bancorp as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of NBN. Quantinno Capital Management LP raised its stake in Northeast Bancorp by 116.3% during the first quarter. Quantinno Capital Management LP now owns 28,071 shares of the financial services provider's stock worth $3,154,000 after buying an additional 15,096 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its position in Northeast Bancorp by 5.2% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 127,330 shares of the financial services provider's stock valued at $13,233,000 after acquiring an additional 6,339 shares during the last quarter. Vanguard Group Inc. grew its holdings in Northeast Bancorp by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 434,490 shares of the financial services provider's stock worth $45,157,000 after acquiring an additional 9,926 shares during the period. Sei Investments Co. grew its holdings in Northeast Bancorp by 82.5% during the 1st quarter. Sei Investments Co. now owns 35,272 shares of the financial services provider's stock worth $3,964,000 after acquiring an additional 15,944 shares during the period. Finally, UBS Group AG raised its position in shares of Northeast Bancorp by 47.9% in the 4th quarter. UBS Group AG now owns 61,429 shares of the financial services provider's stock worth $6,384,000 after acquiring an additional 19,908 shares in the last quarter.

Northeast Bancorp Stock Down 0.7%

Shares of NASDAQ NBN opened at $129.53 on Tuesday. 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 has a market cap of $1.06 billion, a PE ratio of 10.18 and a beta of 0.58. The company's fifty day simple moving average is $131.02 and its 200 day simple moving average is $122.91. Northeast Bancorp has a 12-month low of $80.75 and a 12-month high of $142.31.

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

Northeast Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 10th were paid a $0.01 dividend. The ex-dividend date was Monday, August 10th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Northeast Bancorp's dividend payout ratio (DPR) is currently 0.31%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Keefe, Bruyette & Woods boosted their price objective 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. Piper Sandler raised their target price on Northeast Bancorp from $145.00 to $151.00 and gave the stock an "overweight" rating in a research note on Monday, August 3rd. Wall Street Zen downgraded Northeast Bancorp from a "buy" rating to a "hold" rating in a report on Sunday, May 24th. Finally, Weiss Ratings reissued 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 assigned a Hold rating to the company's stock. According to MarketBeat.com, Northeast Bancorp currently has an average rating of "Moderate Buy" and a consensus target price of $143.50.

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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