Globeflex Capital L P Buys Shares of 35,339 Northeast Bancorp $NBN

Globeflex Capital L P purchased a new stake in Northeast Bancorp (NASDAQ:NBN) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 35,339 shares of the financial services provider’s stock, valued at approximately $4,683,000. Globeflex Capital L P owned approximately 0.43% of Northeast Bancorp as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of NBN. GAMMA Investing LLC lifted its position in Northeast Bancorp by 105.6% during the second quarter. GAMMA Investing LLC now owns 185 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 95 shares during the last quarter. OP Asset Management Ltd purchased a new position in Northeast Bancorp in the first quarter worth $33,000. Caitong International Asset Management Co. Ltd increased its position in shares of Northeast Bancorp by 36,700.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 368 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 367 shares in the last quarter. Clearstead Advisors LLC increased its position in shares of Northeast Bancorp by 194.0% during the fourth quarter. Clearstead Advisors LLC now owns 741 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 489 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Northeast Bancorp by 1,071.4% during the 4th quarter. Quadrant Capital Group LLC now owns 820 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 750 shares during the last quarter.

Northeast Bancorp Stock Performance

Shares of NBN opened at $130.50 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.10 and a current ratio of 1.13. The stock has a 50-day moving average of $130.95 and a two-hundred day moving average of $122.86. The stock has a market cap of $1.07 billion, a P/E ratio of 10.26 and a beta of 0.58. Northeast Bancorp has a one year low of $80.75 and a one year high of $142.31.

Northeast Bancorp (NASDAQ:NBN) last announced its quarterly earnings data on Monday, July 27th. The financial services provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.40 by $0.65. Northeast Bancorp had a return on equity of 19.94% and a net margin of 27.91%.The business had revenue of $65.24 million for the quarter, compared to analyst estimates of $67.21 million.

Northeast Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 10th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date is Monday, August 10th. Northeast Bancorp’s dividend payout ratio is 0.31%.

Wall Street Analyst Weigh In

NBN has been the topic of several research analyst reports. Keefe, Bruyette & Woods boosted their target price on Northeast Bancorp from $128.00 to $136.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 28th. Wall Street Zen downgraded Northeast Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, May 24th. Piper Sandler boosted their price target on Northeast Bancorp from $145.00 to $151.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Northeast Bancorp in a report on Friday, July 31st. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Northeast Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $143.50.

Northeast Bancorp Profile

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.