Northeast Bancorp $NBN Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in Northeast Bancorp (NASDAQ:NBN) by 8.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 179,131 shares of the financial services provider’s stock after purchasing an additional 14,118 shares during the period. Geode Capital Management LLC owned about 2.18% of Northeast Bancorp worth $15,942,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Northeast Bancorp by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 397,769 shares of the financial services provider’s stock valued at $36,412,000 after buying an additional 14,773 shares in the last quarter. Boston Partners grew its holdings in shares of Northeast Bancorp by 1.5% during the 2nd quarter. Boston Partners now owns 270,682 shares of the financial services provider’s stock worth $24,417,000 after purchasing an additional 4,018 shares during the period. American Century Companies Inc. increased its position in shares of Northeast Bancorp by 11.4% during the 1st quarter. American Century Companies Inc. now owns 192,279 shares of the financial services provider’s stock worth $17,601,000 after purchasing an additional 19,741 shares during the last quarter. Wellington Management Group LLP increased its holdings in Northeast Bancorp by 5.2% in the 1st quarter. Wellington Management Group LLP now owns 117,123 shares of the financial services provider’s stock valued at $10,721,000 after purchasing an additional 5,752 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Northeast Bancorp during the 1st quarter worth about $8,089,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NBN shares. Wall Street Zen lowered Northeast Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Keefe, Bruyette & Woods reduced their price objective on Northeast Bancorp from $107.00 to $102.00 and set a “market perform” rating for the company in a research note on Thursday, October 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Northeast Bancorp in a research report on Monday, November 24th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Northeast Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $102.00.

Northeast Bancorp Stock Performance

NASDAQ:NBN opened at $90.68 on Tuesday. The firm’s 50 day moving average is $91.45 and its two-hundred day moving average is $94.25. Northeast Bancorp has a fifty-two week low of $78.17 and a fifty-two week high of $113.01. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 0.69. The company has a market cap of $744.12 million, a P/E ratio of 8.52 and a beta of 0.60.

Northeast Bancorp (NASDAQ:NBN) last released its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $2.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.01). The business had revenue of $52.88 million during the quarter, compared to analyst estimates of $57.43 million. Northeast Bancorp had a return on equity of 18.97% and a net margin of 24.36%.

Northeast Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date was Monday, November 10th. Northeast Bancorp’s dividend payout ratio is 0.38%.

About Northeast Bancorp

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.