Foundry Partners LLC Has $1.45 Million Stake in Northeast Bancorp (NBN)
Foundry Partners LLC lowered its stake in Northeast Bancorp (NASDAQ:NBN) by 25.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,400 shares of the financial services provider’s stock after selling 24,675 shares during the period. Foundry Partners LLC owned 0.81% of Northeast Bancorp worth $1,453,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in NBN. Municipal Employees Retirement System of Michigan acquired a new position in Northeast Bancorp during the second quarter valued at $707,000. Russell Investments Group Ltd. raised its position in Northeast Bancorp by 16.7% in the second quarter. Russell Investments Group Ltd. now owns 118,873 shares of the financial services provider’s stock valued at $2,419,000 after buying an additional 16,973 shares during the period. Acadian Asset Management LLC raised its position in Northeast Bancorp by 68.7% in the second quarter. Acadian Asset Management LLC now owns 34,002 shares of the financial services provider’s stock valued at $691,000 after buying an additional 13,847 shares during the period. Schwab Charles Investment Management Inc. acquired a new position in Northeast Bancorp during the second quarter valued at $257,000. Finally, Eagle Global Advisors LLC acquired a new position in Northeast Bancorp during the second quarter valued at $228,000. 48.10% of the stock is owned by institutional investors and hedge funds.
Northeast Bancorp (NASDAQ:NBN) opened at 20.05 on Friday. Northeast Bancorp has a 52-week low of $10.75 and a 52-week high of $22.35. The stock has a 50 day moving average price of $21.16 and a 200 day moving average price of $17.73. The company has a market capitalization of $177.06 million, a price-to-earnings ratio of 14.53 and a beta of 0.32.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 11th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, August 9th. This represents a $0.04 annualized dividend and a yield of 0.20%. Northeast Bancorp’s payout ratio is 2.90%.
Separately, ValuEngine raised Northeast Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd.
About Northeast Bancorp
Northeast Bancorp is a bank holding company. The Company’s banking subsidiary is Northeast Bank (the Bank). The Company provides a range of banking services to individual and corporate customers throughout south-central and western Maine and conducts loan purchasing and origination activities nationwide through its subsidiary.
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