Northeast Bancorp (NBN) Stake Lowered by Context BH Capital Management LP
Context BH Capital Management LP lessened its stake in Northeast Bancorp (NASDAQ:NBN) by 6.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 200,040 shares of the financial services provider’s stock after selling 14,104 shares during the quarter. Northeast Bancorp makes up 1.7% of Context BH Capital Management LP’s holdings, making the stock its 20th biggest position. Context BH Capital Management LP owned about 2.53% of Northeast Bancorp worth $5,231,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NBN. Cornerstone Capital Management Holdings LLC. acquired a new stake in Northeast Bancorp during the 2nd quarter valued at $111,000. Bessemer Group Inc. acquired a new stake in Northeast Bancorp during the 2nd quarter valued at $120,000. Nationwide Fund Advisors lifted its holdings in Northeast Bancorp by 93.8% during the 3rd quarter. Nationwide Fund Advisors now owns 6,200 shares of the financial services provider’s stock valued at $162,000 after purchasing an additional 3,000 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Northeast Bancorp during the 2nd quarter valued at $149,000. Finally, New York State Common Retirement Fund acquired a new stake in Northeast Bancorp during the 2nd quarter valued at $159,000. 59.14% of the stock is owned by institutional investors.
Shares of Northeast Bancorp (NASDAQ:NBN) traded up $0.05 during trading on Monday, reaching $23.55. The company’s stock had a trading volume of 47,700 shares, compared to its average volume of 38,884. Northeast Bancorp has a fifty-two week low of $10.90 and a fifty-two week high of $29.95. The firm has a market cap of $186.76, a P/E ratio of 13.94 and a beta of 0.32. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.35.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, November 6th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend is Friday, November 3rd. Northeast Bancorp’s dividend payout ratio is 2.37%.
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About Northeast Bancorp
Northeast Bancorp is a bank holding company. The Company’s banking subsidiary is Northeast Bank (the Bank). The Company provides a range of banking services to individual and corporate customers throughout south-central and western Maine and conducts loan purchasing and origination activities nationwide through its subsidiary.
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