Emerald Mutual Fund Advisers Trust Has $2.04 Million Holdings in Northeast Bancorp $NBN

Emerald Mutual Fund Advisers Trust cut its stake in Northeast Bancorp (NASDAQ:NBN) by 18.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,155 shares of the financial services provider’s stock after selling 4,134 shares during the period. Emerald Mutual Fund Advisers Trust owned approximately 0.22% of Northeast Bancorp worth $2,040,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jump Financial LLC increased its holdings in shares of Northeast Bancorp by 5.2% during the 2nd quarter. Jump Financial LLC now owns 3,129 shares of the financial services provider’s stock worth $278,000 after purchasing an additional 154 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 buying an additional 175 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Northeast Bancorp by 2.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,377 shares of the financial services provider’s stock valued at $1,182,000 after buying an additional 225 shares during the period. OP Asset Management Ltd bought a new stake in shares of Northeast Bancorp in the first quarter valued at about $33,000. Finally, Swiss National Bank grew its position in Northeast Bancorp by 2.0% during the fourth quarter. Swiss National Bank now owns 15,100 shares of the financial services provider’s stock worth $1,569,000 after buying an additional 300 shares in the last quarter.

Northeast Bancorp Price Performance

NASDAQ:NBN opened at $131.20 on Tuesday. The company has a 50-day moving average of $126.11 and a 200-day moving average of $118.68. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 11.24 and a beta of 0.58. Northeast Bancorp has a 52 week low of $80.75 and a 52 week high of $142.31. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.10 and a current ratio of 1.13.

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

Northeast Bancorp Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Piper Sandler initiated coverage on Northeast Bancorp in a report on Monday, March 16th. They issued an “overweight” rating and a $133.00 price target for the company. Keefe, Bruyette & Woods raised their price objective on Northeast Bancorp from $120.00 to $128.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Northeast Bancorp in a report on Monday, May 4th. Finally, Wall Street Zen cut Northeast Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Northeast Bancorp currently has an average rating of “Moderate Buy” and an average target price of $130.50.

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.