Polaris Capital Management LLC Sells 1,000 Shares of Northeast Bancorp $NBN

Polaris Capital Management LLC reduced its holdings in Northeast Bancorp (NASDAQ:NBN) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,800 shares of the financial services provider’s stock after selling 1,000 shares during the quarter. Polaris Capital Management LLC’s holdings in Northeast Bancorp were worth $4,521,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Ellsworth Advisors LLC increased its stake in Northeast Bancorp by 1.3% in the 1st quarter. Ellsworth Advisors LLC now owns 11,608 shares of the financial services provider’s stock worth $1,063,000 after acquiring an additional 144 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Northeast Bancorp by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,157 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 175 shares during the last quarter. CWM LLC increased its position in shares of Northeast Bancorp by 136.8% during the 1st quarter. CWM LLC now owns 438 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 253 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Northeast Bancorp by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,188 shares of the financial services provider’s stock valued at $1,848,000 after purchasing an additional 313 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its position in shares of Northeast Bancorp by 15.7% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 2,765 shares of the financial services provider’s stock valued at $253,000 after purchasing an additional 375 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have recently commented on NBN shares. Wall Street Zen upgraded Northeast Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northeast Bancorp in a research report on Saturday, September 27th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $115.00.

Northeast Bancorp Trading Up 0.9%

Shares of NBN stock opened at $94.65 on Friday. The stock has a market capitalization of $777.08 million, a PE ratio of 9.39 and a beta of 0.60. Northeast Bancorp has a 1-year low of $75.29 and a 1-year high of $113.01. The business has a 50-day moving average of $104.31 and a 200 day moving average of $93.68. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.24 and a quick ratio of 1.23.

Northeast Bancorp (NASDAQ:NBN) last issued its earnings results on Monday, July 28th. The financial services provider reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.46. The company had revenue of $62.70 million during the quarter, compared to analysts’ expectations of $56.50 million. Northeast Bancorp had a return on equity of 18.56% and a net margin of 23.77%.

Northeast Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 25th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, September 25th. This represents a $0.04 annualized dividend and a yield of 0.0%. Northeast Bancorp’s dividend payout ratio is currently 0.40%.

About Northeast Bancorp

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.