Rhumbline Advisers Sells 517 Shares of Northeast Bancorp (NASDAQ:NBN)

Rhumbline Advisers lessened its stake in Northeast Bancorp (NASDAQ:NBN) by 4.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,540 shares of the financial services provider’s stock after selling 517 shares during the period. Rhumbline Advisers owned approximately 0.13% of Northeast Bancorp worth $965,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Picton Mahoney Asset Management boosted its holdings in shares of Northeast Bancorp by 57.6% in the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the financial services provider’s stock worth $30,000 after buying an additional 118 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Northeast Bancorp in the fourth quarter worth approximately $127,000. KLP Kapitalforvaltning AS purchased a new position in shares of Northeast Bancorp during the 4th quarter worth $128,000. Federated Hermes Inc. boosted its stake in shares of Northeast Bancorp by 44.4% during the 4th quarter. Federated Hermes Inc. now owns 1,557 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 479 shares during the last quarter. Finally, Comerica Bank bought a new stake in shares of Northeast Bancorp during the 4th quarter valued at $192,000.

Northeast Bancorp Trading Up 0.7%

NASDAQ:NBN opened at $82.08 on Friday. Northeast Bancorp has a one year low of $54.60 and a one year high of $110.35. The business has a fifty day moving average price of $85.04 and a 200-day moving average price of $92.25. The firm has a market capitalization of $673.88 million, a price-to-earnings ratio of 9.13 and a beta of 0.58. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.25 and a quick ratio of 1.23.

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

Northeast Bancorp Announces Dividend

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