Northeast Bank (NASDAQ:NBN) Short Interest Up 18.8% in June

Northeast Bank (NASDAQ:NBN) saw a large growth in short interest in June. As of June 30th, there was short interest totalling 63,800 shares, a growth of 18.8% from the June 15th total of 53,700 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average daily trading volume, of 25,000 shares, the short-interest ratio is presently 2.6 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NBN. Boston Partners boosted its position in Northeast Bank by 5.2% in the first quarter. Boston Partners now owns 13,839 shares of the financial services provider’s stock valued at $766,000 after buying an additional 689 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Northeast Bank by 28.5% in the 4th quarter. SG Americas Securities LLC now owns 3,801 shares of the financial services provider’s stock valued at $210,000 after acquiring an additional 843 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Northeast Bank by 10.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 16,501 shares of the financial services provider’s stock worth $911,000 after acquiring an additional 1,619 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Northeast Bank by 82.2% during the first quarter. BNP Paribas Financial Markets now owns 3,640 shares of the financial services provider’s stock worth $201,000 after purchasing an additional 1,642 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Northeast Bank by 3,166.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,025 shares of the financial services provider’s stock worth $112,000 after buying an additional 1,963 shares in the last quarter.

Northeast Bank Price Performance

NASDAQ NBN traded up $1.89 during trading on Tuesday, hitting $67.85. The company’s stock had a trading volume of 19,822 shares, compared to its average volume of 25,636. Northeast Bank has a fifty-two week low of $42.01 and a fifty-two week high of $67.85. The business’s 50 day simple moving average is $57.70 and its 200-day simple moving average is $54.87.

Northeast Bank (NASDAQ:NBN) last released its earnings results on Tuesday, April 30th. The financial services provider reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.11. The company had revenue of $66.03 million during the quarter, compared to analyst estimates of $36.34 million. During the same quarter last year, the business earned $1.69 earnings per share.

Northeast Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 27th. Shareholders of record on Monday, May 13th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.04 dividend on an annualized basis and a yield of 0.06%. Northeast Bank’s dividend payout ratio is currently 0.55%.

Northeast Bank Company Profile

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.