Northeast Bancorp (NASDAQ:NBN) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC raised its position in shares of Northeast Bancorp (NASDAQ:NBN - Free Report) by 11,200.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,232 shares of the financial services provider's stock after purchasing an additional 7,168 shares during the quarter. GAMMA Investing LLC owned 0.09% of Northeast Bancorp worth $662,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NBN. Bank of New York Mellon Corp raised its stake in Northeast Bancorp by 3.2% during the 4th quarter. Bank of New York Mellon Corp now owns 47,873 shares of the financial services provider's stock valued at $4,391,000 after purchasing an additional 1,498 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Northeast Bancorp by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,875 shares of the financial services provider's stock worth $1,823,000 after buying an additional 892 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Northeast Bancorp in the fourth quarter valued at approximately $294,000. AlphaQuest LLC lifted its stake in Northeast Bancorp by 12,410.5% in the fourth quarter. AlphaQuest LLC now owns 2,377 shares of the financial services provider's stock worth $218,000 after acquiring an additional 2,358 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Northeast Bancorp by 51.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,072 shares of the financial services provider's stock valued at $1,016,000 after purchasing an additional 3,780 shares in the last quarter.

Northeast Bancorp Stock Up 0.7%

Shares of NBN stock traded up $0.61 during mid-day trading on Thursday, hitting $82.08. 104,219 shares of the stock traded hands, compared to its average volume of 47,130. Northeast Bancorp has a 52-week low of $54.60 and a 52-week high of $110.35. The stock has a market cap of $673.88 million, a P/E ratio of 9.13 and a beta of 0.58. 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's fifty day moving average is $85.05 and its two-hundred day moving average is $92.37.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $2.23 EPS for the quarter, missing analysts' consensus estimates of $2.83 by ($0.60). Northeast Bancorp had a net margin of 22.84% and a return on equity of 17.46%. The business had revenue of $52.57 million during the quarter, compared to analysts' expectations of $50.09 million.

Northeast Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were issued a $0.01 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $0.04 annualized dividend and a dividend yield of 0.05%. Northeast Bancorp's dividend payout ratio (DPR) is presently 0.44%.

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.