Bank of New York Mellon Corp Takes Position in Northeast Bancorp (NBN)
Bank of New York Mellon Corp purchased a new stake in Northeast Bancorp (NASDAQ:NBN) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 24,600 shares of the financial services provider’s stock, valued at approximately $500,000. Bank of New York Mellon Corp owned 0.28% of Northeast Bancorp as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. acquired a new position in shares of Northeast Bancorp during the 2nd quarter worth approximately $120,000. Trexquant Investment LP acquired a new position in shares of Northeast Bancorp during the 2nd quarter worth approximately $204,000. Eagle Global Advisors LLC acquired a new position in shares of Northeast Bancorp during the 2nd quarter worth approximately $228,000. Schwab Charles Investment Management Inc. acquired a new position in shares of Northeast Bancorp during the 2nd quarter worth approximately $257,000. Finally, Acadian Asset Management LLC grew its position in shares of Northeast Bancorp by 68.7% during the 2nd quarter. Acadian Asset Management LLC now owns 34,002 shares of the financial services provider’s stock worth $691,000 after purchasing an additional 13,847 shares in the last quarter. 54.99% of the stock is currently owned by hedge funds and other institutional investors.
Northeast Bancorp (NBN) opened at 25.50 on Tuesday. Northeast Bancorp has a 12 month low of $10.85 and a 12 month high of $29.95. The firm has a market cap of $225.52 million, a price-to-earnings ratio of 18.48 and a beta of 0.33. The firm’s 50 day moving average is $25.95 and its 200-day moving average is $21.47.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 6th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend is Friday, November 3rd. Northeast Bancorp’s dividend payout ratio (DPR) is currently 2.48%.
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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