Voleon Capital Management LP Buys Shares of 2,666 Northeast Bancorp $NBN

Voleon Capital Management LP purchased a new stake in shares of Northeast Bancorp (NASDAQ:NBN) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,666 shares of the financial services provider’s stock, valued at approximately $244,000.

Several other hedge funds and other institutional investors have also bought and sold shares of NBN. CWM LLC increased its stake in shares of Northeast Bancorp by 136.8% in the 1st quarter. CWM LLC now owns 438 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 253 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Northeast Bancorp during the fourth quarter valued at about $127,000. Comerica Bank purchased a new stake in Northeast Bancorp during the fourth quarter valued at about $192,000. The Manufacturers Life Insurance Company bought a new stake in Northeast Bancorp during the 4th quarter worth approximately $219,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in Northeast Bancorp during the 1st quarter worth approximately $220,000.

Northeast Bancorp Stock Up 0.6%

NBN stock opened at $110.85 on Wednesday. Northeast Bancorp has a 1-year low of $65.55 and a 1-year high of $112.00. The company has a current ratio of 1.25, a quick ratio of 1.23 and a debt-to-equity ratio of 0.85. The company’s 50 day moving average is $100.76 and its 200 day moving average is $92.31. The stock has a market cap of $909.64 million, a price-to-earnings ratio of 11.00 and a beta of 0.63.

Northeast Bancorp (NASDAQ:NBN) last issued its quarterly earnings results on Monday, July 28th. The financial services provider reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.46. Northeast Bancorp had a net margin of 23.77% and a return on equity of 19.19%. The business had revenue of $62.70 million for the quarter, compared to analysts’ expectations of $56.50 million.

Northeast Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 25th will be issued a $0.01 dividend. The ex-dividend date is Thursday, September 25th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Northeast Bancorp’s dividend payout ratio (DPR) is currently 0.40%.

Northeast Bancorp 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.