SG Americas Securities LLC Buys 6,169 Shares of Northeast Bancorp $NBN

SG Americas Securities LLC raised its stake in Northeast Bancorp (NASDAQ:NBN) by 35.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,650 shares of the financial services provider’s stock after purchasing an additional 6,169 shares during the period. SG Americas Securities LLC owned 0.29% of Northeast Bancorp worth $2,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. State of Alaska Department of Revenue bought a new position in shares of Northeast Bancorp during the 3rd quarter worth approximately $31,000. PNC Financial Services Group Inc. acquired a new stake in Northeast Bancorp in the third quarter valued at approximately $89,000. Integrated Investment Consultants LLC acquired a new stake in Northeast Bancorp in the third quarter valued at approximately $211,000. Longboard Asset Management LP purchased a new position in Northeast Bancorp in the third quarter worth $217,000. Finally, Quantbot Technologies LP grew its holdings in Northeast Bancorp by 110.9% in the second quarter. Quantbot Technologies LP now owns 2,255 shares of the financial services provider’s stock worth $201,000 after purchasing an additional 1,186 shares during the last quarter.

Northeast Bancorp Price Performance

NASDAQ:NBN opened at $116.29 on Friday. The company has a market cap of $954.28 million, a PE ratio of 11.21 and a beta of 0.58. Northeast Bancorp has a twelve month low of $78.17 and a twelve month high of $126.25. The company has a current ratio of 1.27, a quick ratio of 1.24 and a debt-to-equity ratio of 0.97. The company’s 50 day moving average is $113.91 and its two-hundred day moving average is $103.58.

Northeast Bancorp (NASDAQ:NBN) last posted its quarterly earnings results on Monday, January 26th. The financial services provider reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.09. Northeast Bancorp had a net margin of 24.16% and a return on equity of 17.34%. The business had revenue of $51.77 million during the quarter, compared to analysts’ expectations of $54.83 million.

Northeast Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th were paid a $0.01 dividend. The ex-dividend date was Wednesday, February 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Northeast Bancorp’s dividend payout ratio (DPR) is 0.39%.

Analysts Set New Price Targets

Several analysts have recently commented on NBN shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northeast Bancorp in a report on Monday, December 29th. Piper Sandler began coverage on Northeast Bancorp in a research report on Monday, March 16th. They set an “overweight” rating and a $133.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $117.50.

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.