GAMMA Investing LLC Raises Stock Holdings in Northeast Bancorp (NASDAQ:NBN)

GAMMA Investing LLC lifted its stake in Northeast Bancorp (NASDAQ:NBN - Free Report) by 11,200.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of NBN. Royce & Associates LP bought a new stake in Northeast Bancorp in the 4th quarter worth about $4,820,000. Citadel Advisors LLC purchased a new stake in shares of Northeast Bancorp during the 4th quarter valued at about $3,114,000. Northern Trust Corp grew its stake in shares of Northeast Bancorp by 10.3% during the 4th 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 period. Millennium Management LLC grew its stake in shares of Northeast Bancorp by 38.3% during the 4th quarter. Millennium Management LLC now owns 17,893 shares of the financial services provider's stock valued at $1,641,000 after acquiring an additional 4,956 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Northeast Bancorp during the 4th quarter valued at approximately $294,000.

Northeast Bancorp Stock Performance

Shares of NASDAQ:NBN traded up $0.44 during mid-day trading on Friday, reaching $82.52. 168,879 shares of the company traded hands, compared to its average volume of 47,852. Northeast Bancorp has a 52 week low of $54.60 and a 52 week high of $110.35. 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 firm has a market cap of $677.49 million, a PE ratio of 9.18 and a beta of 0.59. The company's 50 day moving average price is $85.03 and its 200-day moving average price is $92.00.

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

Northeast Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were paid a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.04 annualized dividend and a yield of 0.05%. Northeast Bancorp's payout ratio is 0.44%.

Northeast Bancorp Company 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.