American Century Companies Inc. Grows Stock Holdings in Northeast Bancorp $NBN

American Century Companies Inc. raised its holdings in shares of Northeast Bancorp (NASDAQ:NBN) by 5.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 203,368 shares of the financial services provider’s stock after acquiring an additional 11,089 shares during the quarter. American Century Companies Inc.’s holdings in Northeast Bancorp were worth $18,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in NBN. Police & Firemen s Retirement System of New Jersey grew its position in shares of Northeast Bancorp by 19.4% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 1,717 shares of the financial services provider’s stock valued at $153,000 after purchasing an additional 279 shares in the last quarter. Persistent Asset Partners Ltd purchased a new stake in Northeast Bancorp during the 2nd quarter worth about $208,000. AXQ Capital LP bought a new position in Northeast Bancorp in the 2nd quarter worth about $215,000. Arcus Capital Partners LLC purchased a new position in Northeast Bancorp during the 2nd quarter valued at about $226,000. Finally, Voleon Capital Management LP purchased a new position in Northeast Bancorp during the 1st quarter valued at about $244,000.

Northeast Bancorp Stock Down 1.4%

NBN opened at $89.44 on Wednesday. Northeast Bancorp has a 12 month low of $78.17 and a 12 month high of $113.01. The company has a current ratio of 1.24, a quick ratio of 1.23 and a debt-to-equity ratio of 0.69. The business’s 50-day moving average price is $91.08 and its 200-day moving average price is $94.28. The company has a market cap of $733.94 million, a P/E ratio of 8.41 and a beta of 0.60.

Northeast Bancorp (NASDAQ:NBN) last issued its earnings results on Tuesday, October 28th. The financial services provider reported $2.67 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.01). Northeast Bancorp had a net margin of 24.36% and a return on equity of 18.97%. The company had revenue of $52.88 million for the quarter, compared to analysts’ expectations of $57.43 million.

Northeast Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend was Monday, November 10th. Northeast Bancorp’s dividend payout ratio is 0.38%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NBN shares. Weiss Ratings reissued a “buy (b)” rating on shares of Northeast Bancorp in a report on Monday, November 24th. Wall Street Zen cut shares of Northeast Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Northeast Bancorp from $107.00 to $102.00 and set a “market perform” rating for the company in a report on Thursday, October 30th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.00.

Northeast Bancorp Company Profile

Northeast Bank provides banking services to individual and corporate customers in Maine. The company's deposit products include demand deposit, NOW, money market, savings, certificate of deposit, and individual retirement accounts, as well as checking accounts. Its loan portfolio comprises residential mortgage loans; multi-family and other commercial real estate loans; commercial and industrial loans, such as term loans, lines of credit and equipment, and receivables financing; consumer loans comprising mobile home and overdraft, and deposit-secured loans; and small business administration loans.