Insider Selling: Northeast Bancorp (NBN) Director Sells $101,400.00 in Stock

Northeast Bancorp (NASDAQ:NBN) Director Julie Jenkins sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $25.35, for a total transaction of $101,400.00. Following the sale, the director now directly owns 21,955 shares of the company’s stock, valued at $556,559.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of Northeast Bancorp (NBN) opened at $24.55 on Friday. Northeast Bancorp has a one year low of $11.63 and a one year high of $29.95. The company has a market cap of $191.52, a P/E ratio of 14.29 and a beta of 0.28. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.35.

The company also recently declared a quarterly dividend, which was paid on Monday, November 20th. Stockholders of record on Monday, November 6th were issued a dividend of $0.01 per share. The ex-dividend date was Friday, November 3rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.16%. Northeast Bancorp’s dividend payout ratio is currently 2.37%.

Hedge funds have recently added to or reduced their stakes in the company. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Northeast Bancorp during the second quarter valued at approximately $111,000. Bessemer Group Inc. acquired a new stake in shares of Northeast Bancorp during the second quarter valued at approximately $120,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Northeast Bancorp during the second quarter valued at approximately $149,000. New York State Common Retirement Fund acquired a new stake in shares of Northeast Bancorp during the second quarter valued at approximately $159,000. Finally, Nationwide Fund Advisors raised its holdings in shares of Northeast Bancorp by 93.8% during the third quarter. Nationwide Fund Advisors now owns 6,200 shares of the financial services provider’s stock valued at $162,000 after acquiring an additional 3,000 shares during the period. Institutional investors and hedge funds own 52.32% of the company’s stock.

Separately, ValuEngine lowered shares of 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.

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