UBS Group AG Purchases 19,908 Shares of Northeast Bancorp $NBN

UBS Group AG lifted its position in shares of Northeast Bancorp (NASDAQ:NBN) by 47.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 61,429 shares of the financial services provider’s stock after acquiring an additional 19,908 shares during the period. UBS Group AG’s holdings in Northeast Bancorp were worth $6,384,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP grew its stake in shares of Northeast Bancorp by 6.3% in the third quarter. Quantbot Technologies LP now owns 2,397 shares of the financial services provider’s stock valued at $240,000 after acquiring an additional 142 shares in the last quarter. Jump Financial LLC grew its stake in shares of Northeast Bancorp by 5.2% in the second quarter. Jump Financial LLC now owns 3,129 shares of the financial services provider’s stock valued at $278,000 after acquiring an additional 154 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Northeast Bancorp by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,157 shares of the financial services provider’s stock valued at $381,000 after acquiring an additional 175 shares in the last quarter. Alps Advisors Inc. grew its stake in shares of Northeast Bancorp by 4.4% in the third quarter. Alps Advisors Inc. now owns 4,134 shares of the financial services provider’s stock valued at $414,000 after acquiring an additional 176 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Northeast Bancorp by 12.8% in the second quarter. The Manufacturers Life Insurance Company now owns 2,680 shares of the financial services provider’s stock valued at $238,000 after acquiring an additional 304 shares in the last quarter.

Analysts Set New Price Targets

NBN has been the topic of several research reports. Keefe, Bruyette & Woods upped their price target on shares of Northeast Bancorp from $120.00 to $128.00 and gave the company a “market perform” rating in a research note on Wednesday, April 29th. Weiss Ratings restated a “buy (b)” rating on shares of Northeast Bancorp in a research note on Monday, May 4th. Piper Sandler initiated coverage on shares of Northeast Bancorp in a research note on Monday, March 16th. They issued an “overweight” rating and a $133.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Northeast Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $130.50.

Northeast Bancorp Stock Performance

NBN opened at $117.57 on Wednesday. The firm has a market cap of $965.25 million, a P/E ratio of 10.07 and a beta of 0.59. Northeast Bancorp has a 52-week low of $79.05 and a 52-week high of $135.62. 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 business’s fifty day moving average is $117.27 and its 200-day moving average is $108.70.

Northeast Bancorp (NASDAQ:NBN) last released its earnings results on Monday, April 27th. The financial services provider reported $3.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.53. The company had revenue of $66.62 million for the quarter, compared to analyst estimates of $61.49 million. Northeast Bancorp had a return on equity of 18.63% and a net margin of 25.96%.

Northeast Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend is Tuesday, May 12th. Northeast Bancorp’s dividend payout ratio is 0.34%.

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.