Northeast Bancorp Declares Quarterly Dividend of $0.01 (NBN)

Northeast Bancorp (NASDAQ:NBN) announced a quarterly dividend on Tuesday, January 30th, Wall Street Journal reports. Stockholders of record on Tuesday, February 13th will be given a dividend of 0.01 per share by the financial services provider on Tuesday, February 27th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend is Monday, February 12th.

Northeast Bancorp (NASDAQ NBN) traded down $0.40 during mid-day trading on Tuesday, hitting $22.75. The stock had a trading volume of 79,132 shares, compared to its average volume of 41,582. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.35. Northeast Bancorp has a fifty-two week low of $12.95 and a fifty-two week high of $29.95. The firm has a market capitalization of $186.37, a price-to-earnings ratio of 13.46 and a beta of 0.28.

Northeast Bancorp (NASDAQ:NBN) last posted its earnings results on Monday, November 6th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter. Northeast Bancorp had a return on equity of 12.56% and a net margin of 21.17%.

In related news, Director Julie Jenkins sold 4,000 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $25.35, for a total value of $101,400.00. Following the completion of the transaction, the director now owns 21,955 shares of the company’s stock, valued at $556,559.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 13.38% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of NBN. State Street Corp boosted its holdings in Northeast Bancorp by 742.2% in the second quarter. State Street Corp now owns 84,843 shares of the financial services provider’s stock valued at $1,727,000 after purchasing an additional 74,769 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in Northeast Bancorp during the 2nd quarter worth approximately $149,000. Finally, California State Teachers Retirement System bought a new position in Northeast Bancorp during the 2nd quarter worth approximately $263,000. 52.36% of the stock is owned by hedge funds and other institutional investors.

Separately, ValuEngine lowered Northeast Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, December 1st.

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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.

Dividend History for Northeast Bancorp (NASDAQ:NBN)

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