Spark Investment Management LLC Has $247,000 Position in Northeast Bancorp (NBN)
Spark Investment Management LLC held its stake in shares of Northeast Bancorp (NASDAQ:NBN) during the second quarter, Holdings Channel reports. The firm owned 12,150 shares of the financial services provider’s stock at the end of the second quarter. Spark Investment Management LLC’s holdings in Northeast Bancorp were worth $247,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Russell Investments Group Ltd. raised its position in 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 valued at $2,419,000 after buying an additional 16,973 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in shares of Northeast Bancorp during the second quarter valued at $707,000. Acadian Asset Management LLC increased 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 valued at $691,000 after buying an additional 13,847 shares during the period. Finally, Eagle Global Advisors LLC acquired a new position in shares of Northeast Bancorp during the second quarter valued at $228,000. 48.10% of the stock is owned by institutional investors and hedge funds.
Northeast Bancorp (NASDAQ NBN) opened at 20.80 on Wednesday. Northeast Bancorp has a 52 week low of $10.75 and a 52 week high of $22.35. The stock has a market capitalization of $183.68 million, a P/E ratio of 15.07 and a beta of 0.32. The company’s 50-day moving average price is $21.16 and its 200 day moving average price is $17.69.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 11th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date of this dividend is Wednesday, August 9th. Northeast Bancorp’s dividend payout ratio (DPR) is currently 2.90%.
Separately, ValuEngine upgraded 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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