Context BH Capital Management LP Boosts Position in Northeast Bancorp (NBN)
Context BH Capital Management LP increased its holdings in shares of Northeast Bancorp (NASDAQ:NBN) by 5.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 366,688 shares of the financial services provider’s stock after acquiring an additional 17,809 shares during the period. Northeast Bancorp makes up 1.6% of Context BH Capital Management LP’s investment portfolio, making the stock its 18th largest holding. Context BH Capital Management LP owned about 4.05% of Northeast Bancorp worth $6,135,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake in Northeast Bancorp by 1.7% during the fourth quarter. Bank of New York Mellon Corp now owns 58,529 shares of the financial services provider’s stock worth $980,000 after acquiring an additional 968 shares in the last quarter. Vanguard Group Inc lifted its stake in shares of Northeast Bancorp by 0.3% in the third quarter. Vanguard Group Inc now owns 349,093 shares of the financial services provider’s stock worth $7,575,000 after buying an additional 1,058 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Northeast Bancorp by 19.5% in the fourth quarter. Bank of America Corp DE now owns 6,484 shares of the financial services provider’s stock worth $109,000 after buying an additional 1,058 shares in the last quarter. Brandywine Global Investment Management LLC bought a new position in shares of Northeast Bancorp in the fourth quarter worth approximately $36,000. Finally, BlackRock Inc. lifted its stake in shares of Northeast Bancorp by 0.9% in the third quarter. BlackRock Inc. now owns 374,007 shares of the financial services provider’s stock worth $8,115,000 after buying an additional 3,306 shares in the last quarter. 67.69% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Julie Jenkins sold 2,000 shares of the stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $19.79, for a total transaction of $39,580.00. Following the transaction, the director now owns 23,955 shares in the company, valued at $474,069.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 14.22% of the company’s stock.
Northeast Bancorp (NASDAQ:NBN) last issued its earnings results on Monday, January 28th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.01). The firm had revenue of $17.19 million during the quarter. Northeast Bancorp had a return on equity of 12.72% and a net margin of 22.28%.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 26th. Stockholders of record on Tuesday, February 12th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, February 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.20%.
Northeast Bancorp Profile
Northeast Bancorp operates as the bank holding company for Northeast Bank that provides banking products and services to individual and corporate customers in the United States. The company's deposit products include noninterest-bearing demand deposit, savings, NOW, and money market accounts, as well as certificate of deposit accounts.
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