Insider Buying: Northeast Bancorp (NBN) Director Buys $216,800.00 in Stock

Northeast Bancorp (NASDAQ:NBN) Director David Allen Tanner bought 10,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were acquired at an average price of $21.68 per share, for a total transaction of $216,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Northeast Bancorp (NASDAQ:NBN) opened at $21.70 on Friday. The stock has a market cap of $171.79, a PE ratio of 12.84 and a beta of 0.23. Northeast Bancorp has a 1-year low of $13.25 and a 1-year high of $29.95. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.30.

Northeast Bancorp (NASDAQ:NBN) last released its quarterly earnings results on Monday, January 29th. The financial services provider reported $0.33 EPS for the quarter. The business had revenue of $13.69 million during the quarter. Northeast Bancorp had a net margin of 21.61% and a return on equity of 12.13%.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Tuesday, February 13th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.18%. The ex-dividend date is Monday, February 12th. Northeast Bancorp’s payout ratio is 2.35%.

Separately, ValuEngine cut shares of Northeast Bancorp from a “buy” rating to a “hold” rating in a report on Friday, December 1st.

Several hedge funds have recently added to or reduced their stakes in NBN. Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of Northeast Bancorp during the second quarter valued at about $111,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Northeast Bancorp during the second quarter valued at about $149,000. New York State Common Retirement Fund purchased a new stake in shares of Northeast Bancorp during the second quarter valued at about $159,000. Nationwide Fund Advisors lifted its position in shares of Northeast Bancorp by 93.8% during the third quarter. Nationwide Fund Advisors now owns 6,200 shares of the financial services provider’s stock valued at $162,000 after buying an additional 3,000 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Northeast Bancorp during the third quarter valued at about $174,000. 51.00% of the stock is owned by institutional investors and hedge funds.

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About Northeast Bancorp

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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