GAMMA Investing LLC Purchases 7,168 Shares of Northeast Bancorp (NASDAQ:NBN)

GAMMA Investing LLC increased its position in shares of Northeast Bancorp (NASDAQ:NBN) by 11,200.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,232 shares of the financial services provider’s stock after buying an additional 7,168 shares during the period. GAMMA Investing LLC owned 0.09% of Northeast Bancorp worth $662,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NBN. Picton Mahoney Asset Management increased its position in shares of Northeast Bancorp by 57.6% during the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 118 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Northeast Bancorp by 5.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,433 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 186 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in Northeast Bancorp by 2.9% during the fourth quarter. Sterling Capital Management LLC now owns 6,633 shares of the financial services provider’s stock worth $608,000 after purchasing an additional 187 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in Northeast Bancorp by 0.4% during the fourth quarter. Nuveen Asset Management LLC now owns 57,181 shares of the financial services provider’s stock worth $5,245,000 after purchasing an additional 238 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Northeast Bancorp by 10.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,982 shares of the financial services provider’s stock worth $365,000 after purchasing an additional 388 shares during the last quarter.

Northeast Bancorp Stock Up 0.7%

NBN opened at $82.08 on Thursday. The company has a quick ratio of 1.23, a current ratio of 1.25 and a debt-to-equity ratio of 0.85. The stock has a market cap of $673.88 million, a price-to-earnings ratio of 9.13 and a beta of 0.58. Northeast Bancorp has a twelve month low of $54.60 and a twelve month high of $110.35. The company’s 50-day moving average price is $85.05 and its two-hundred day moving average price is $92.37.

Northeast Bancorp (NASDAQ:NBN) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.60). The firm had revenue of $52.57 million for the quarter, compared to the consensus estimate of $50.09 million. Northeast Bancorp had a return on equity of 17.46% and a net margin of 22.84%.

Northeast Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.04 annualized dividend and a yield of 0.05%. Northeast Bancorp’s payout ratio is currently 0.44%.

About Northeast Bancorp

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.