Acadian Asset Management LLC raised its stake in Northeast Bancorp (NASDAQ:NBN) by 68.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 34,002 shares of the financial services provider’s stock after buying an additional 13,847 shares during the period. Acadian Asset Management LLC’s holdings in Northeast Bancorp were worth $691,000 at the end of the most recent reporting period.
Separately, Russell Investments Group Ltd. increased 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 period. 48.17% of the stock is owned by institutional investors.
Northeast Bancorp (NASDAQ:NBN) traded down 0.95% during trading on Friday, reaching $20.85. The company had a trading volume of 30,984 shares. Northeast Bancorp has a 12 month low of $10.75 and a 12 month high of $22.35. The firm has a market capitalization of $184.13 million, a price-to-earnings ratio of 15.11 and a beta of 0.32. The stock has a 50 day moving average price of $21.07 and a 200 day moving average price of $17.53.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 11th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.19%. Northeast Bancorp’s dividend payout ratio is 2.90%.
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Separately, ValuEngine upgraded Northeast Bancorp from a “hold” rating to a “buy” rating in a research report 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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