American Century Companies Inc. Buys 11,089 Shares of Northeast Bancorp $NBN

American Century Companies Inc. lifted its stake in shares of Northeast Bancorp (NASDAQ:NBN) by 5.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,368 shares of the financial services provider’s stock after purchasing an additional 11,089 shares during the quarter. American Century Companies Inc. owned about 2.48% of Northeast Bancorp worth $18,098,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Police & Firemen s Retirement System of New Jersey boosted its holdings in Northeast Bancorp by 19.4% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 1,717 shares of the financial services provider’s stock worth $153,000 after acquiring an additional 279 shares in the last quarter. Persistent Asset Partners Ltd bought a new position in shares of Northeast Bancorp in the 2nd quarter worth $208,000. AXQ Capital LP acquired a new stake in Northeast Bancorp in the 2nd quarter valued at $215,000. Arcus Capital Partners LLC acquired a new stake in Northeast Bancorp in the 2nd quarter valued at $226,000. Finally, Voleon Capital Management LP bought a new stake in Northeast Bancorp during the 1st quarter valued at $244,000.

Wall Street Analyst Weigh In

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

Northeast Bancorp Price Performance

Shares of NASDAQ NBN opened at $89.44 on Wednesday. The stock has a fifty day simple moving average of $91.08 and a two-hundred day simple moving average of $94.28. Northeast Bancorp has a 1-year low of $78.17 and a 1-year high of $113.01. The firm has a market cap of $733.94 million, a price-to-earnings ratio of 8.41 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 issued its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $2.67 EPS for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.01). Northeast Bancorp had a net margin of 24.36% and a return on equity of 18.97%. The firm had revenue of $52.88 million for the quarter, compared to analysts’ expectations of $57.43 million.

Northeast Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.04 annualized dividend and a yield of 0.0%. 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.