Pacific Ridge Capital Partners LLC Has $3.14 Million Position in Northeast Bancorp (NBN)
Pacific Ridge Capital Partners LLC boosted its holdings in Northeast Bancorp (NASDAQ:NBN) by 55.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 154,240 shares of the financial services provider’s stock after acquiring an additional 55,310 shares during the quarter. Pacific Ridge Capital Partners LLC owned 1.75% of Northeast Bancorp worth $3,139,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of NBN. Russell Investments Group Ltd. boosted its stake in Northeast Bancorp by 16.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 118,873 shares of the financial services provider’s stock valued at $2,419,000 after purchasing an additional 16,973 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Northeast Bancorp by 68.7% during the 2nd quarter. Acadian Asset Management LLC now owns 34,002 shares of the financial services provider’s stock valued at $691,000 after purchasing an additional 13,847 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new position in Northeast Bancorp during the 2nd quarter valued at $707,000. Eagle Global Advisors LLC bought a new position in Northeast Bancorp during the 2nd quarter valued at $228,000. Finally, Bessemer Group Inc. bought a new position in Northeast Bancorp during the 2nd quarter valued at $120,000. Hedge funds and other institutional investors own 54.96% of the company’s stock.
Separately, ValuEngine raised Northeast Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd.
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Northeast Bancorp (NASDAQ:NBN) opened at 21.75 on Monday. The company has a market capitalization of $192.07 million, a price-to-earnings ratio of 15.76 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 firm’s 50-day moving average price is $21.12 and its 200-day moving average price is $18.31.
The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.18%. The ex-dividend date of this dividend was Wednesday, August 9th. Northeast Bancorp’s dividend payout ratio (DPR) is 2.90%.
Northeast Bancorp 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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