Northeast Bancorp $NBN Shares Sold by Cubist Systematic Strategies LLC

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 lowered its position in Northeast Bancorp (NASDAQ:NBN - Free Report) by 68.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,153 shares of the financial services provider's stock after selling 13,188 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.07% of Northeast Bancorp worth $563,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Nuveen Asset Management LLC boosted its position in Northeast Bancorp by 0.4% in the fourth quarter. Nuveen Asset Management LLC now owns 57,181 shares of the financial services provider's stock valued at $5,245,000 after buying an additional 238 shares during the last quarter. CWM LLC boosted its position in Northeast Bancorp by 136.8% in the first quarter. CWM LLC now owns 438 shares of the financial services provider's stock valued at $40,000 after buying an additional 253 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Northeast Bancorp by 1.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 20,188 shares of the financial services provider's stock valued at $1,848,000 after buying an additional 313 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Northeast Bancorp by 10.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,982 shares of the financial services provider's stock valued at $365,000 after buying an additional 388 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Northeast Bancorp by 2.4% in the first quarter. Russell Investments Group Ltd. now owns 51,751 shares of the financial services provider's stock valued at $4,737,000 after buying an additional 1,203 shares during the last quarter.

Northeast Bancorp Stock Performance

Northeast Bancorp stock traded down $0.58 during mid-day trading on Friday, hitting $110.40. The company had a trading volume of 71,750 shares, compared to its average volume of 70,057. The company has a current ratio of 1.25, a quick ratio of 1.23 and a debt-to-equity ratio of 0.85. Northeast Bancorp has a 12-month low of $67.51 and a 12-month high of $112.00. The company's fifty day moving average is $101.67 and its 200-day moving average is $92.55. The company has a market capitalization of $905.94 million, a price-to-earnings ratio of 10.95 and a beta of 0.63.

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

Northeast Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 25th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date is Thursday, September 25th. Northeast Bancorp's dividend 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.