Teacher Retirement System of Texas Sells 2,778 Shares of Northeast Bancorp (NASDAQ:NBN)

Teacher Retirement System of Texas reduced its position in Northeast Bancorp (NASDAQ:NBN - Free Report) by 25.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,346 shares of the financial services provider's stock after selling 2,778 shares during the period. Teacher Retirement System of Texas owned about 0.10% of Northeast Bancorp worth $764,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Picton Mahoney Asset Management lifted its position in shares of Northeast Bancorp by 57.6% during the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the financial services provider's stock worth $30,000 after buying an additional 118 shares during the period. Point72 Asset Management L.P. bought a new position in Northeast Bancorp in the 4th quarter valued at $127,000. KLP Kapitalforvaltning AS bought a new position in Northeast Bancorp in the 4th quarter valued at $128,000. Federated Hermes Inc. raised its position in Northeast Bancorp by 44.4% in the 4th quarter. Federated Hermes Inc. now owns 1,557 shares of the financial services provider's stock valued at $143,000 after purchasing an additional 479 shares during the last quarter. Finally, Comerica Bank acquired a new stake in shares of Northeast Bancorp in the 4th quarter valued at $192,000.

Northeast Bancorp Trading Down 0.6%

NASDAQ:NBN traded down $0.61 during mid-day trading on Friday, hitting $95.34. The company had a trading volume of 52,955 shares, compared to its average volume of 53,798. The business's fifty day moving average is $87.26 and its two-hundred day moving average is $91.72. Northeast Bancorp has a fifty-two week low of $61.74 and a fifty-two week high of $110.35. The firm has a market cap of $782.70 million, a P/E ratio of 10.60 and a beta of 0.59. 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 (NASDAQ:NBN - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $2.23 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.60). Northeast Bancorp had a net margin of 22.84% and a return on equity of 17.46%. The company had revenue of $52.57 million for the quarter, compared to analyst estimates of $50.09 million.

Northeast Bancorp Announces Dividend

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