Northeast Bancorp (NASDAQ:NBN) Position Maintained by First Manhattan Co.
First Manhattan Co. maintained its stake in shares of Northeast Bancorp (NASDAQ:NBN) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,500 shares of the financial services provider’s stock at the end of the second quarter. First Manhattan Co.’s holdings in Northeast Bancorp were worth $152,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in NBN. Russell Investments Group Ltd. raised its position in shares of Northeast Bancorp by 16.7% in the second quarter. Russell Investments Group Ltd. now owns 118,873 shares of the financial services provider’s stock worth $2,419,000 after buying an additional 16,973 shares during the period. Municipal Employees Retirement System of Michigan purchased a new position in shares of Northeast Bancorp during the second quarter worth about $707,000. Acadian Asset Management LLC raised its position in shares of Northeast Bancorp by 68.7% in the second quarter. Acadian Asset Management LLC now owns 34,002 shares of the financial services provider’s stock worth $691,000 after buying an additional 13,847 shares during the period. Eagle Global Advisors LLC purchased a new position in shares of Northeast Bancorp during the second quarter worth about $228,000. Finally, Bessemer Group Inc. purchased a new position in shares of Northeast Bancorp during the second quarter worth about $120,000. 48.17% of the stock is owned by institutional investors and hedge funds.
Northeast Bancorp (NASDAQ:NBN) opened at 20.85 on Friday. The firm has a market capitalization of $184.13 million, a price-to-earnings ratio of 15.11 and a beta of 0.32. The stock’s 50 day moving average is $21.07 and its 200-day moving average is $17.53. Northeast Bancorp has a 52 week low of $10.75 and a 52 week high of $22.35.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be given a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.04 annualized dividend and a yield of 0.19%. Northeast Bancorp’s dividend payout ratio is presently 2.90%.
Separately, ValuEngine upgraded shares of Northeast Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd.
Northeast Bancorp Company Profile
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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