Informed Momentum Co LLC Cuts Stock Position in Northeast Bancorp (NASDAQ:NBN)

Key Points

• Informed Momentum Co LLC reduced its stake in Northeast Bancorp by 46.8% in the first quarter, now holding 5,661 shares valued at $518,000.
• Northeast Bancorp reported quarterly earnings of $3.00 per share, surpassing analysts' expectations of $2.54, with revenues of $62.70 million compared to predictions of $56.50 million.
• The company has recently declared a quarterly dividend of $0.01 per share, with the dividend payout ratio standing at 0.40%.

Informed Momentum Co LLC trimmed its holdings in Northeast Bancorp (NASDAQ:NBN - Free Report) by 46.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,661 shares of the financial services provider's stock after selling 4,971 shares during the quarter. Informed Momentum Co LLC owned about 0.07% of Northeast Bancorp worth $518,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Northeast Bancorp during the 1st quarter valued at approximately $220,000. Citadel Advisors LLC acquired a new stake in Northeast Bancorp in the 4th quarter valued at approximately $3,114,000. Northern Trust Corp increased its holdings in Northeast Bancorp by 10.3% in the 4th quarter. Northern Trust Corp now owns 66,139 shares of the financial services provider's stock valued at $6,067,000 after purchasing an additional 6,160 shares during the last quarter. Millennium Management LLC increased its holdings in Northeast Bancorp by 38.3% in the 4th quarter. Millennium Management LLC now owns 17,893 shares of the financial services provider's stock valued at $1,641,000 after purchasing an additional 4,956 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in Northeast Bancorp in the 4th quarter valued at approximately $357,000.

Northeast Bancorp Trading Down 3.2%

Northeast Bancorp stock traded down $3.34 during trading on Friday, hitting $100.11. The company had a trading volume of 186,700 shares, compared to its average volume of 102,997. The company's 50 day simple moving average is $93.02 and its 200-day simple moving average is $91.78. The stock has a market cap of $821.90 million, a price-to-earnings ratio of 9.93 and a beta of 0.58. 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 1-year low of $65.12 and a 1-year high of $110.35.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $62.70 million during the quarter, compared to the consensus estimate of $56.50 million. Northeast Bancorp had a net margin of 23.77% and a return on equity of 19.19%.

Northeast Bancorp Announces Dividend

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 paid a dividend of $0.01 per share. The ex-dividend date is Thursday, September 25th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Northeast Bancorp's payout ratio is presently 0.40%.

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.