Cubist Systematic Strategies LLC Trims Position in Northeast Bancorp $NBN

Key Points

• Cubist Systematic Strategies LLC reduced its stake in Northeast Bancorp by 68.2%, leaving it with 6,153 shares after selling 13,188 during the 1st quarter.
• Other investors like Trexquant Investment LP and Hotchkis & Wiley Capital Management LLC increased their positions in Northeast Bancorp, with Trexquant raising its stake by 20.7%.
• Northeast Bancorp reported an EPS of $3.00 for the quarter, surpassing estimates of $2.54, and announced a dividend of $0.01 per share to be paid on October 9th.

Cubist Systematic Strategies LLC cut its stake in shares of Northeast Bancorp (NASDAQ:NBN - Free Report) by 68.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 6,153 shares of the financial services provider's stock after selling 13,188 shares during the period. Cubist Systematic Strategies LLC owned about 0.07% of Northeast Bancorp worth $563,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD purchased a new stake in shares of Northeast Bancorp during the fourth quarter worth about $250,000. The Manufacturers Life Insurance Company purchased a new stake in Northeast Bancorp during the 4th quarter worth approximately $219,000. Northern Trust Corp raised its holdings in shares of Northeast Bancorp by 10.3% during the fourth quarter. Northern Trust Corp now owns 66,139 shares of the financial services provider's stock valued at $6,067,000 after acquiring an additional 6,160 shares during the last quarter. Comerica Bank purchased a new position in shares of Northeast Bancorp in the fourth quarter valued at approximately $192,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Northeast Bancorp by 302.6% in the fourth quarter. BNP Paribas Financial Markets now owns 6,630 shares of the financial services provider's stock worth $608,000 after acquiring an additional 4,983 shares during the last quarter.

Northeast Bancorp Price Performance

NASDAQ NBN traded down $1.50 during mid-day trading on Tuesday, hitting $108.65. The stock had a trading volume of 105,863 shares, compared to its average volume of 63,875. The firm's 50 day moving average is $102.25 and its 200 day moving average is $92.68. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.25 and a quick ratio of 1.23. The stock has a market capitalization of $892.02 million, a price-to-earnings ratio of 10.78 and a beta of 0.63. Northeast Bancorp has a twelve month low of $68.89 and a twelve month high of $112.00.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) last issued its earnings results on Monday, July 28th. The financial services provider reported $3.00 EPS for the quarter, beating analysts' consensus estimates of $2.54 by $0.46. The business had revenue of $62.70 million during the quarter, compared to analysts' expectations of $56.50 million. Northeast Bancorp had a net margin of 23.77% and a return on equity of 19.19%.

Northeast Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 25th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date is Thursday, September 25th. Northeast Bancorp's payout ratio is currently 0.40%.

Northeast Bancorp 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.