Assenagon Asset Management S.A. Purchases New Position in Northeast Bancorp $NBN

Assenagon Asset Management S.A. purchased a new stake in Northeast Bancorp (NASDAQ:NBN) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,835 shares of the financial services provider’s stock, valued at approximately $584,000. Assenagon Asset Management S.A. owned approximately 0.07% of Northeast Bancorp as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in Northeast Bancorp by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,188 shares of the financial services provider’s stock worth $1,848,000 after buying an additional 313 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Northeast Bancorp by 5.2% in the first quarter. Wellington Management Group LLP now owns 117,123 shares of the financial services provider’s stock worth $10,721,000 after acquiring an additional 5,752 shares during the last quarter. Rafferty Asset Management LLC acquired a new position in shares of Northeast Bancorp during the first quarter worth approximately $676,000. Trexquant Investment LP grew its stake in shares of Northeast Bancorp by 20.7% during the first quarter. Trexquant Investment LP now owns 11,165 shares of the financial services provider’s stock valued at $1,022,000 after purchasing an additional 1,912 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Northeast Bancorp by 61.3% in the first quarter. AQR Capital Management LLC now owns 9,324 shares of the financial services provider’s stock valued at $854,000 after purchasing an additional 3,542 shares in the last quarter.

Analyst Upgrades and Downgrades

NBN has been the topic of several recent research reports. Wall Street Zen cut Northeast Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Keefe, Bruyette & Woods reduced their target price on shares of Northeast Bancorp from $107.00 to $102.00 and set a “market perform” rating on the stock in a research note on Thursday, October 30th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Northeast Bancorp in a research note on Monday. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Northeast Bancorp has a consensus rating of “Moderate Buy” and an average target price of $102.00.

Northeast Bancorp Trading Up 0.7%

Shares of Northeast Bancorp stock opened at $107.36 on Friday. Northeast Bancorp has a 12-month low of $78.17 and a 12-month high of $113.01. The stock has a market cap of $881.38 million, a P/E ratio of 10.09 and a beta of 0.55. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.65. The business’s 50 day moving average is $92.27 and its 200-day moving average is $96.17.

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 analysts’ consensus estimates 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 net margin of 24.36% and a return on equity of 18.52%.

Northeast Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, November 11th were given a dividend of $0.01 per share. The ex-dividend date was Monday, November 10th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Northeast Bancorp’s dividend payout ratio (DPR) is currently 0.38%.

About Northeast Bancorp

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.