Perritt Capital Management Inc. Sells 1,900 Shares of Northeast Bancorp (NASDAQ:NBN)

Perritt Capital Management Inc. lessened its holdings in shares of Northeast Bancorp (NASDAQ:NBN) by 4.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,286 shares of the financial services provider’s stock after selling 1,900 shares during the period. Perritt Capital Management Inc. owned about 0.50% of Northeast Bancorp worth $1,249,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. BNP Paribas Arbitrage SA raised its position in shares of Northeast Bancorp by 734.9% in the first quarter. BNP Paribas Arbitrage SA now owns 1,603 shares of the financial services provider’s stock valued at $33,000 after buying an additional 1,411 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new position in Northeast Bancorp during the 1st quarter worth $61,000. Meeder Asset Management Inc. increased its stake in Northeast Bancorp by 322.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,764 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 2,873 shares during the period. Bank of America Corp DE raised its holdings in Northeast Bancorp by 19.5% in the 4th quarter. Bank of America Corp DE now owns 6,484 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 1,058 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Northeast Bancorp by 36.4% in the 1st quarter. Acadian Asset Management LLC now owns 29,992 shares of the financial services provider’s stock valued at $620,000 after acquiring an additional 8,001 shares in the last quarter. Hedge funds and other institutional investors own 63.73% of the company’s stock.

Shares of NASDAQ:NBN traded up $0.24 during trading on Wednesday, reaching $21.99. 1,538 shares of the company traded hands, compared to its average volume of 16,314. The company’s 50 day moving average is $20.88 and its two-hundred day moving average is $21.03. The firm has a market capitalization of $194.63 million, a PE ratio of 9.97 and a beta of 1.14. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.26. Northeast Bancorp has a 52 week low of $15.54 and a 52 week high of $27.58.

Northeast Bancorp (NASDAQ:NBN) last released its earnings results on Tuesday, July 30th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter. Northeast Bancorp had a return on equity of 13.41% and a net margin of 15.79%. The company had revenue of $18.44 million for the quarter.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.04 annualized dividend and a yield of 0.18%.

Northeast Bancorp Company Profile

Northeast Bancorp operates as the bank holding company for Northeast Bank that provides banking products and services to individual and corporate customers in the United States. The company's deposit products include noninterest-bearing demand deposit, savings, NOW, and money market accounts, as well as certificate of deposit accounts.

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Institutional Ownership by Quarter for Northeast Bancorp (NASDAQ:NBN)

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