Gratus Capital LLC Continues to Hold Position in Northeast Bancorp (NBN)
Gratus Capital LLC maintained its stake in Northeast Bancorp (NASDAQ:NBN) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 130,344 shares of the financial services provider’s stock at the end of the second quarter. Gratus Capital LLC owned about 1.48% of Northeast Bancorp worth $2,653,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of NBN. Bank of New York Mellon Corp acquired a new stake in Northeast Bancorp during the second quarter worth approximately $500,000. Schwab Charles Investment Management Inc. acquired a new stake in Northeast Bancorp during the second quarter worth approximately $257,000. Trexquant Investment LP acquired a new stake in Northeast Bancorp during the second quarter worth approximately $204,000. Bessemer Group Inc. acquired a new stake in Northeast Bancorp during the second quarter worth approximately $120,000. Finally, Eagle Global Advisors LLC acquired a new stake in Northeast Bancorp during the second quarter worth approximately $228,000. Institutional investors and hedge funds own 54.96% of the company’s stock.
Shares of Northeast Bancorp (NASDAQ NBN) opened at 21.35 on Wednesday. The stock has a 50 day moving average price of $21.14 and a 200-day moving average price of $18.02. The firm has a market capitalization of $188.54 million, a price-to-earnings ratio of 15.47 and a beta of 0.32. Northeast Bancorp has a 52 week low of $10.85 and a 52 week high of $22.35.
The business also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were issued a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $0.04 annualized dividend and a dividend yield of 0.19%. Northeast Bancorp’s dividend payout ratio is currently 2.90%.
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Separately, ValuEngine upgraded Northeast Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd.
Northeast Bancorp Company Profile
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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