Northeast Bank (NASDAQ:NBN) Short Interest Update
Northeast Bank (NASDAQ:NBN – Get a rating) was the target of a sharp decline in short-term interest in April. As of April 30, there was short interest totaling 51,200 shares, down 21.8% from the April 15 total of 65,500 shares. Based on an average daily volume of 30,300 shares, the days-to-cover ratio is currently 1.7 days. Currently, 0.7% of the company’s shares are sold short.
Northeast Bank shares opened at $35.93 on Monday. The company‘s 50-day simple moving average is $35.31 and its 200-day simple moving average is $35.53. Northeast Bank has a 12-month low of $28.02 and a 12-month high of $41.05. The company has a market capitalization of $299.66 million, a P/E ratio of 5.51 and a beta of 1.37.
Northeast Bank (NASDAQ:NBN – Get a rating) last released its results on Monday, April 25. The financial services provider reported earnings per share of $1.36 for the quarter, beating the consensus estimate of $1.17 by $0.19. In the same quarter last year, the company achieved EPS of $4.06.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 18. Shareholders of record on Wednesday, May 4 will receive a dividend of $0.01. The ex-dividend date is Tuesday, May 3. This represents a dividend of $0.04 on an annualized basis and a yield of 0.11%. Northeast Bank’s dividend payout ratio (DPR) is currently 0.61%.
A number of large investors have recently increased or reduced their stake in NBN. Lazard Asset Management LLC acquired a new position in Northeast Bank stock during the first quarter worth approximately $27,000. Citigroup Inc. purchased a new stake in Northeast Bank stock during the fourth quarter worth approximately $152,000. Cubist Systematic Strategies LLC purchased a new stake in Northeast Bank stock during the third quarter worth approximately $205,000. JPMorgan Chase & Co. increased its stake in Northeast Bank shares by 239.7% during the fourth quarter. JPMorgan Chase & Co. now owns 6,827 shares of the financial services provider worth $244,000 after buying 4,817 additional shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in Northeast Bank stock during the fourth quarter worth approximately $258,000. Hedge funds and other institutional investors own 50.04% of the company’s shares.
Separately, StockNews.com upgraded Northeast Bank shares from a “hold” rating to a “buy” rating in a report on Thursday.
Northeast Bank Company Profile (Get a rating)
Northeast Bank provides banking services to individuals and businesses in Maine. The Company’s deposit products include demand deposits, NOW, money market, savings, certificates of deposit and individual retirement accounts, as well as checking accounts. Its loan portfolio includes residential mortgages; multi-family real estate loans and other commercial real estate loans; commercial and industrial loans, such as term loans, lines of credit and equipment, and receivables financing; consumer loans made up of mobile homes and overdrafts, and loans guaranteed by deposit; and small business administration loans.
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