Northeast Bancorp (NBN) Lowered to “Hold” at ValuEngine

Northeast Bancorp (NASDAQ:NBN) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Northeast Bancorp (NASDAQ NBN) traded down $0.20 on Friday, hitting $24.45. 34,178 shares of the company’s stock were exchanged, compared to its average volume of 46,592. The company has a market capitalization of $216.50, a price-to-earnings ratio of 14.59 and a beta of 0.33. Northeast Bancorp has a fifty-two week low of $11.60 and a fifty-two week high of $29.95. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.35.

Several institutional investors and hedge funds have recently bought and sold shares of the business. Boston Partners boosted its position in shares of Northeast Bancorp by 74.6% in the third quarter. Boston Partners now owns 289,300 shares of the financial services provider’s stock worth $7,565,000 after purchasing an additional 123,600 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Northeast Bancorp by 112.4% in the third quarter. Russell Investments Group Ltd. now owns 252,459 shares of the financial services provider’s stock worth $6,601,000 after purchasing an additional 133,586 shares during the period. Vanguard Group Inc. boosted its position in shares of Northeast Bancorp by 8.6% in the second quarter. Vanguard Group Inc. now owns 235,076 shares of the financial services provider’s stock worth $4,783,000 after purchasing an additional 18,683 shares during the period. Context BH Capital Management LP lifted its holdings in shares of Northeast Bancorp by 8.3% in the second quarter. Context BH Capital Management LP now owns 214,144 shares of the financial services provider’s stock worth $4,358,000 after buying an additional 16,462 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC lifted its holdings in shares of Northeast Bancorp by 55.9% in the second quarter. Pacific Ridge Capital Partners LLC now owns 154,240 shares of the financial services provider’s stock worth $3,139,000 after buying an additional 55,310 shares in the last quarter. Institutional investors and hedge funds own 52.32% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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