Northeast Bancorp (NASDAQ:NBN) Shares Cross Above 50-Day Moving Average of $20.99

Northeast Bancorp (NASDAQ:NBN)’s stock price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $20.99 and traded as high as $19.50. Northeast Bancorp shares last traded at $19.50, with a volume of 181 shares trading hands.

The firm’s 50 day simple moving average is $20.93. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $174.11 million, a P/E ratio of 9.40 and a beta of 0.90.

Northeast Bancorp (NASDAQ:NBN) last posted its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.52 EPS for the quarter. Northeast Bancorp had a net margin of 22.37% and a return on equity of 12.91%. The company had revenue of $16.90 million for the quarter.

In other news, CEO Richard Wayne acquired 10,000 shares of Northeast Bancorp stock in a transaction dated Tuesday, May 14th. The shares were bought at an average cost of $21.44 per share, with a total value of $214,400.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 14.22% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Wedge Capital Management L L P NC lifted its position in shares of Northeast Bancorp by 20.5% during the 1st quarter. Wedge Capital Management L L P NC now owns 81,248 shares of the financial services provider’s stock valued at $1,680,000 after acquiring an additional 13,848 shares during the period. Context BH Capital Management LP lifted its position in shares of Northeast Bancorp by 5.1% during the 4th quarter. Context BH Capital Management LP now owns 366,688 shares of the financial services provider’s stock valued at $6,135,000 after acquiring an additional 17,809 shares during the period. Basswood Capital Management L.L.C. lifted its position in shares of Northeast Bancorp by 6,367.8% during the 4th quarter. Basswood Capital Management L.L.C. now owns 64,678 shares of the financial services provider’s stock valued at $1,082,000 after acquiring an additional 63,678 shares during the period. Castine Capital Management LLC acquired a new position in shares of Northeast Bancorp during the 1st quarter valued at $13,353,000. Finally, Acadian Asset Management LLC lifted its position in shares of Northeast Bancorp by 62.8% during the 4th quarter. Acadian Asset Management LLC now owns 21,991 shares of the financial services provider’s stock valued at $369,000 after acquiring an additional 8,487 shares during the period. Institutional investors own 64.53% of the company’s stock.

About Northeast Bancorp (NASDAQ:NBN)

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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