ValuEngine cut shares of Northeast Bancorp (NASDAQ:NBN) from a buy rating to a hold rating in a report released on Friday morning.

Northeast Bancorp (NASDAQ:NBN) traded down $0.20 during trading on Friday, reaching $24.45. The company’s stock had a trading volume of 34,100 shares, compared to its average volume of 39,069. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.35. Northeast Bancorp has a 1-year low of $11.60 and a 1-year high of $29.95. The stock has a market cap of $193.90, a price-to-earnings ratio of 14.47 and a beta of 0.28.

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Monday, November 6th were given a $0.01 dividend. The ex-dividend date was Friday, November 3rd. This represents a $0.04 annualized dividend and a yield of 0.16%. Northeast Bancorp’s dividend payout ratio is presently 2.37%.

Several hedge funds have recently made changes to their positions in NBN. Russell Investments Group Ltd. raised its stake in shares of Northeast Bancorp by 112.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 252,459 shares of the financial services provider’s stock worth $6,601,000 after buying an additional 133,586 shares during the period. Boston Partners raised its stake in shares of Northeast Bancorp by 74.6% during the 3rd quarter. Boston Partners now owns 289,300 shares of the financial services provider’s stock worth $7,565,000 after buying an additional 123,600 shares during the period. State Street Corp raised its stake in shares of Northeast Bancorp by 742.2% during the 2nd quarter. State Street Corp now owns 84,843 shares of the financial services provider’s stock worth $1,727,000 after buying an additional 74,769 shares during the period. Northern Trust Corp raised its stake in shares of Northeast Bancorp by 326.5% during the 2nd quarter. Northern Trust Corp now owns 78,602 shares of the financial services provider’s stock worth $1,600,000 after buying an additional 60,172 shares during the period. Finally, Wedge Capital Management L L P NC acquired a new position in shares of Northeast Bancorp during the 3rd quarter worth approximately $1,527,000. 52.32% of the stock is owned by institutional investors and hedge funds.

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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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