Northeast Bancorp (NASDAQ:NBN) Holdings Lowered by Teacher Retirement System of Texas

Teacher Retirement System of Texas reduced its stake in Northeast Bancorp (NASDAQ:NBN) by 25.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,346 shares of the financial services provider’s stock after selling 2,778 shares during the period. Teacher Retirement System of Texas owned 0.10% of Northeast Bancorp worth $764,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in Northeast Bancorp during the first quarter valued at about $220,000. Trevian Wealth Management LLC boosted its position in shares of Northeast Bancorp by 1.1% during the 1st quarter. Trevian Wealth Management LLC now owns 153,516 shares of the financial services provider’s stock valued at $14,053,000 after purchasing an additional 1,665 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in shares of Northeast Bancorp by 17.9% during the 1st quarter. Wedge Capital Management L L P NC now owns 8,436 shares of the financial services provider’s stock valued at $772,000 after purchasing an additional 1,282 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Northeast Bancorp by 11,200.0% in the 1st quarter. GAMMA Investing LLC now owns 7,232 shares of the financial services provider’s stock worth $662,000 after purchasing an additional 7,168 shares during the last quarter. Finally, California State Teachers Retirement System raised its holdings in shares of Northeast Bancorp by 1,325.5% in the 4th quarter. California State Teachers Retirement System now owns 6,885 shares of the financial services provider’s stock worth $632,000 after purchasing an additional 6,402 shares in the last quarter.

Northeast Bancorp Trading Up 3.3%

Shares of NASDAQ:NBN opened at $98.80 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.23 and a current ratio of 1.25. The stock has a market capitalization of $811.15 million, a price-to-earnings ratio of 10.99 and a beta of 0.59. Northeast Bancorp has a 1-year low of $61.74 and a 1-year high of $110.35. The company has a 50 day moving average price of $86.56 and a 200 day moving average price of $91.64.

Northeast Bancorp (NASDAQ:NBN) last announced its quarterly earnings data 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). The company had revenue of $52.57 million for the quarter, compared to analyst estimates of $50.09 million. Northeast Bancorp had a net margin of 22.84% and a return on equity of 17.46%.

Northeast Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were given a $0.01 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. Northeast Bancorp’s dividend payout ratio (DPR) is 0.44%.

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.