Pacific Ridge Capital Partners LLC Sells 11,764 Shares of Northeast Bank (NASDAQ:NBN)

Pacific Ridge Capital Partners LLC reduced its position in Northeast Bank (NASDAQ:NBN) by 5.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 199,712 shares of the financial services provider’s stock after selling 11,764 shares during the period. Northeast Bank comprises about 2.4% of Pacific Ridge Capital Partners LLC’s holdings, making the stock its 4th largest position. Pacific Ridge Capital Partners LLC’s holdings in Northeast Bank were worth $11,052,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in shares of Northeast Bank by 3,166.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,025 shares of the financial services provider’s stock valued at $112,000 after acquiring an additional 1,963 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Northeast Bank by 82.2% during the 1st quarter. BNP Paribas Financial Markets now owns 3,640 shares of the financial services provider’s stock valued at $201,000 after acquiring an additional 1,642 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Northeast Bank by 28.5% during 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. Assenagon Asset Management S.A. acquired a new position in shares of Northeast Bank during the 4th quarter valued at about $491,000. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Northeast Bank by 10.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 16,501 shares of the financial services provider’s stock valued at $911,000 after acquiring an additional 1,619 shares during the last quarter.

Northeast Bank Stock Performance

Shares of NASDAQ NBN traded up $1.15 during mid-day trading on Friday, reaching $69.02. 28,211 shares of the company traded hands, compared to its average volume of 27,190. The company’s fifty day moving average is $58.82 and its two-hundred day moving average is $55.25. Northeast Bank has a fifty-two week low of $42.43 and a fifty-two week high of $69.74.

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

Northeast Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 27th. Shareholders of record on Monday, May 13th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.06%. The ex-dividend date of this dividend was Friday, May 10th. Northeast Bank’s dividend payout ratio (DPR) 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.