KLP Kapitalforvaltning AS Acquires 1,200 Shares of Northeast Bancorp $NBN

KLP Kapitalforvaltning AS boosted its holdings in Northeast Bancorp (NASDAQ:NBN) by 30.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,100 shares of the financial services provider’s stock after acquiring an additional 1,200 shares during the quarter. KLP Kapitalforvaltning AS owned 0.06% of Northeast Bancorp worth $454,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NBN. CWM LLC increased its stake in Northeast Bancorp by 136.8% in the first quarter. CWM LLC now owns 438 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 253 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Northeast Bancorp in the first quarter valued at about $220,000. Voleon Capital Management LP bought a new stake in Northeast Bancorp in the first quarter valued at about $244,000. Dynamic Technology Lab Private Ltd increased its stake in Northeast Bancorp by 15.7% in the first quarter. Dynamic Technology Lab Private Ltd now owns 2,765 shares of the financial services provider’s stock valued at $253,000 after acquiring an additional 375 shares during the period. Finally, Alps Advisors Inc. acquired a new position in Northeast Bancorp in the first quarter valued at about $358,000.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Northeast Bancorp in a research report on Tuesday, October 14th. Wall Street Zen upgraded shares of Northeast Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Northeast Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $115.00.

Northeast Bancorp Price Performance

Shares of NBN stock opened at $90.54 on Friday. Northeast Bancorp has a 1 year low of $78.17 and a 1 year high of $113.01. The firm’s 50 day moving average is $103.64 and its 200-day moving average is $93.75. The firm has a market capitalization of $743.33 million, a price-to-earnings ratio of 8.98 and a beta of 0.60. The company has a current ratio of 1.24, a quick ratio of 1.23 and a debt-to-equity ratio of 0.69.

Northeast Bancorp (NASDAQ:NBN) last announced its earnings results on Monday, July 28th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.46. Northeast Bancorp had a net margin of 23.77% and a return on equity of 18.56%. The company had revenue of $62.70 million for the quarter, compared to analyst estimates of $56.50 million.

Northeast Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Thursday, September 25th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date was Thursday, September 25th. Northeast Bancorp’s dividend payout ratio is currently 0.40%.

Northeast Bancorp Profile

Northeast Bank provides banking services to individual and corporate customers in Maine. The company's deposit products include demand deposit, NOW, money market, savings, certificate of deposit, and individual retirement accounts, as well as checking accounts. Its loan portfolio comprises residential mortgage loans; multi-family and other commercial real estate loans; commercial and industrial loans, such as term loans, lines of credit and equipment, and receivables financing; consumer loans comprising mobile home and overdraft, and deposit-secured loans; and small business administration loans.