Northeast Bancorp $NBN Position Cut by GW&K Investment Management LLC

GW&K Investment Management LLC reduced its holdings in Northeast Bancorp (NASDAQ:NBN) by 3.1% during the 3rd quarter, Holdings Channel reports. The fund owned 160,351 shares of the financial services provider’s stock after selling 5,071 shares during the quarter. GW&K Investment Management LLC’s holdings in Northeast Bancorp were worth $16,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. bought a new stake in shares of Northeast Bancorp during the 3rd quarter worth about $4,077,000. Oppenheimer Asset Management Inc. bought a new position in shares of Northeast Bancorp in the third quarter valued at approximately $1,131,000. Boston Partners increased its stake in shares of Northeast Bancorp by 1.5% during the second quarter. Boston Partners now owns 270,682 shares of the financial services provider’s stock valued at $24,417,000 after acquiring an additional 4,018 shares during the period. SG Americas Securities LLC raised its holdings in Northeast Bancorp by 1,189.2% during the third quarter. SG Americas Securities LLC now owns 17,481 shares of the financial services provider’s stock worth $1,751,000 after purchasing an additional 16,125 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Northeast Bancorp by 8.6% in the second quarter. Geode Capital Management LLC now owns 179,131 shares of the financial services provider’s stock worth $15,942,000 after purchasing an additional 14,118 shares during the period.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Northeast Bancorp in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $102.00.

Northeast Bancorp Price Performance

NASDAQ NBN opened at $106.14 on Friday. The company has a 50 day simple moving average of $114.01 and a 200-day simple moving average of $103.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $871.41 million, a price-to-earnings ratio of 10.24 and a beta of 0.58. Northeast Bancorp has a 52-week low of $78.17 and a 52-week high of $126.25.

Northeast Bancorp (NASDAQ:NBN) last posted its quarterly earnings results on Monday, January 26th. The financial services provider reported $2.47 EPS for the quarter, topping the consensus estimate of $2.38 by $0.09. The business had revenue of $51.77 million during the quarter, compared to analysts’ expectations of $54.83 million. Northeast Bancorp had a net margin of 24.16% and a return on equity of 17.73%.

Northeast Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were 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 was Wednesday, February 11th. Northeast Bancorp’s payout ratio is currently 0.39%.

Northeast Bancorp Company 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.