Northeast Bancorp (NASDAQ:NBN) Shares Sold by Pacific Ridge Capital Partners LLC

Key Points

• Pacific Ridge Capital Partners LLC has reduced its stake in Northeast Bancorp by 4.2%, now holding 124,893 shares, making it their largest position.
• Northeast Bancorp's stock price decreased by 6.2%, closing at $93.00 with a market capitalization of $763.53 million.
• The company reported earnings of $3.00 per share, exceeding analyst expectations and showcasing a robust revenue of $62.70 million for the quarter.

Pacific Ridge Capital Partners LLC reduced its stake in shares of Northeast Bancorp (NASDAQ:NBN - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 124,893 shares of the financial services provider's stock after selling 5,525 shares during the period. Northeast Bancorp accounts for about 3.0% of Pacific Ridge Capital Partners LLC's portfolio, making the stock its largest holding. Pacific Ridge Capital Partners LLC owned approximately 1.52% of Northeast Bancorp worth $11,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Northeast Bancorp by 5.3% during the fourth quarter. Vanguard Group Inc. now owns 382,996 shares of the financial services provider's stock worth $35,132,000 after acquiring an additional 19,279 shares during the period. GW&K Investment Management LLC increased its holdings in Northeast Bancorp by 31.7% in the first quarter. GW&K Investment Management LLC now owns 166,672 shares of the financial services provider's stock valued at $15,257,000 after buying an additional 40,145 shares during the last quarter. Geode Capital Management LLC boosted its stake in Northeast Bancorp by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 158,171 shares of the financial services provider's stock valued at $14,513,000 after acquiring an additional 4,701 shares in the last quarter. Trevian Wealth Management LLC boosted its stake in Northeast Bancorp by 1.1% in the first quarter. Trevian Wealth Management LLC now owns 153,516 shares of the financial services provider's stock valued at $14,053,000 after acquiring an additional 1,665 shares in the last quarter. Finally, Kennedy Capital Management LLC boosted its stake in Northeast Bancorp by 9.5% in the fourth quarter. Kennedy Capital Management LLC now owns 141,994 shares of the financial services provider's stock valued at $13,025,000 after acquiring an additional 12,301 shares in the last quarter.

Northeast Bancorp Stock Performance

NASDAQ NBN traded down $3.23 during trading hours on Wednesday, hitting $92.46. The company had a trading volume of 19,782 shares, compared to its average volume of 63,226. Northeast Bancorp has a 1-year low of $62.72 and a 1-year high of $110.35. The company has a market cap of $759.10 million, a PE ratio of 9.22 and a beta of 0.58. The business has a 50 day moving average of $90.36 and a 200-day moving average of $91.91. 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 posted its quarterly earnings results on Monday, July 28th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.46. Northeast Bancorp had a net margin of 23.77% and a return on equity of 19.19%. The firm had revenue of $62.70 million during the quarter, compared to analysts' expectations of $56.50 million.

Northeast Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 25th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend is Thursday, September 25th. Northeast Bancorp's dividend payout ratio (DPR) is 0.40%.

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.