173,536 Shares in Northeast Bancorp $NBN Acquired by Ampfield Management L.P.

Ampfield Management L.P. acquired a new stake in Northeast Bancorp (NASDAQ:NBN) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 173,536 shares of the financial services provider’s stock, valued at approximately $19,500,000. Northeast Bancorp makes up 24.1% of Ampfield Management L.P.’s investment portfolio, making the stock its 3rd largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NBN. Sterling Capital Management LLC boosted its position in Northeast Bancorp by 1,012.3% during the first quarter. Sterling Capital Management LLC now owns 2,258 shares of the financial services provider’s stock worth $254,000 after purchasing an additional 2,055 shares in the last quarter. OP Asset Management Ltd purchased a new position in shares of Northeast Bancorp in the first quarter valued at $33,000. Cache Advisors LLC acquired a new position in shares of Northeast Bancorp during the 1st quarter worth $149,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Northeast Bancorp by 36,700.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 368 shares of the financial services provider’s stock worth $38,000 after buying an additional 367 shares during the last quarter. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Northeast Bancorp in the 4th quarter worth about $215,000.

Northeast Bancorp Trading Up 1.9%

Shares of NBN stock opened at $132.78 on Friday. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 11.38 and a beta of 0.58. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $123.98 and a 200 day moving average price of $116.13. Northeast Bancorp has a twelve month low of $80.75 and a twelve month high of $142.31.

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

Northeast Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th were given a dividend of $0.01 per share. The ex-dividend date was Tuesday, May 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Northeast Bancorp’s dividend payout ratio (DPR) is 0.34%.

Analyst Ratings Changes

NBN has been the topic of a number of research reports. Keefe, Bruyette & Woods increased their price objective 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. Piper Sandler began coverage on shares of Northeast Bancorp in a research report on Monday, March 16th. They issued an “overweight” rating and a $133.00 price target on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Northeast Bancorp in a research note on Monday, May 4th. Finally, Wall Street Zen downgraded Northeast Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Two 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, the stock presently has an average rating of “Moderate Buy” and an average price target 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.