Northeast Bancorp $NBN Stock Holdings Lessened by Gator Capital Management LLC

Key Points

• Gator Capital Management LLC reduced its stake in Northeast Bancorp by 24.8%, now holding approximately 73,433 shares worth $6.72 million.
• Northeast Bancorp reported $3.00 earnings per share for the last quarter, surpassing analyst expectations, with a revenue of $62.70 million.
• The company announced a $0.01 quarterly dividend to be paid on October 9th, with an ex-dividend date of September 25th.

Gator Capital Management LLC reduced its stake in Northeast Bancorp (NASDAQ:NBN - Free Report) by 24.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,433 shares of the financial services provider's stock after selling 24,173 shares during the period. Northeast Bancorp accounts for about 2.6% of Gator Capital Management LLC's investment portfolio, making the stock its 19th biggest holding. Gator Capital Management LLC owned about 0.89% of Northeast Bancorp worth $6,722,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. CWM LLC raised its holdings in shares of Northeast Bancorp by 136.8% during 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. Point72 Asset Management L.P. bought a new stake in shares of Northeast Bancorp during the fourth quarter valued at approximately $127,000. Federated Hermes Inc. raised its holdings in shares of Northeast Bancorp by 44.4% during the fourth quarter. Federated Hermes Inc. now owns 1,557 shares of the financial services provider's stock valued at $143,000 after buying an additional 479 shares during the last quarter. Comerica Bank bought a new stake in shares of Northeast Bancorp during the fourth quarter valued at approximately $192,000. Finally, PDT Partners LLC bought a new stake in shares of Northeast Bancorp during the fourth quarter valued at approximately $207,000.

Northeast Bancorp Stock Performance

Shares of NBN traded down $0.10 during mid-day trading on Tuesday, reaching $102.08. 73,315 shares of the company's stock traded hands, compared to its average volume of 65,252. The business's 50-day moving average price is $93.38 and its 200-day moving average price is $91.72. The stock has a market capitalization of $838.08 million, a P/E ratio of 10.13 and a beta of 0.58. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.23 and a current ratio of 1.25. Northeast Bancorp has a 12 month low of $65.12 and a 12 month high of $110.35.

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

Northeast Bancorp Dividend Announcement

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

About Northeast Bancorp

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.