Quantinno Capital Management LP Buys 15,096 Shares of Northeast Bancorp $NBN

Key Points

• Quantinno Capital Management more than doubled its Northeast Bancorp stake by purchasing 15,096 shares in the first quarter, bringing its holdings to 28,071 shares valued at approximately $3.15 million.
• Northeast Bancorp reported quarterly EPS of $4.05, beating analyst expectations of $3.40, although revenue of $65.24 million fell short of the $67.21 million consensus estimate.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $143.50, versus its reported opening price of $133.44.

Quantinno Capital Management LP boosted its stake in Northeast Bancorp (NASDAQ:NBN - Free Report) by 116.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,071 shares of the financial services provider's stock after purchasing an additional 15,096 shares during the quarter. Quantinno Capital Management LP owned about 0.34% of Northeast Bancorp worth $3,154,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NBN. Vanguard Group Inc. boosted its position in shares of 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 purchasing an additional 9,926 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Northeast Bancorp by 3.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 333,281 shares of the financial services provider's stock valued at $37,449,000 after buying an additional 11,168 shares in the last quarter. Boston Partners increased its position 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. Ampfield Management L.P. acquired a new position in Northeast Bancorp during the 1st quarter worth approximately $19,500,000. Finally, GW&K Investment Management LLC raised its stake in Northeast Bancorp by 7.6% during the 4th quarter. GW&K Investment Management LLC now owns 172,575 shares of the financial services provider's stock worth $17,936,000 after buying an additional 12,224 shares during the period.

Northeast Bancorp Price Performance

Shares of NASDAQ NBN opened at $133.44 on Friday. Northeast Bancorp has a fifty-two week low of $80.75 and a fifty-two week high of $142.31. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 10.49 and a beta of 0.58. 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 firm's 50-day simple moving average is $128.95 and its 200 day simple moving average is $121.57.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) last released its quarterly 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 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 Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NBN shares. Weiss Ratings reissued a "buy (b)" rating on shares of Northeast Bancorp in a research note on Friday, July 31st. Keefe, Bruyette & Woods upped their target price 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. Wall Street Zen cut Northeast Bancorp from a "buy" rating to a "hold" rating in a report on Sunday, May 24th. Finally, Piper Sandler lifted their price target on shares of 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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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