Northeast Bank (NASDAQ:NBN) Short Interest Down 21.3% in April

Northeast Bank (NASDAQ:NBN) was the target of a significant decrease in short interest in April. As of April 15th, there was short interest totalling 59,600 shares, a decrease of 21.3% from the March 31st total of 75,700 shares. Currently, 0.9% of the company’s stock are short sold. Based on an average trading volume of 28,900 shares, the days-to-cover ratio is currently 2.1 days.

Northeast Bank Stock Performance

Shares of NBN traded up $0.72 during trading hours on Friday, hitting $52.51. The stock had a trading volume of 18,299 shares, compared to its average volume of 29,692. Northeast Bank has a 1-year low of $34.20 and a 1-year high of $59.00. The firm has a 50 day simple moving average of $52.97 and a 200-day simple moving average of $52.34.

Northeast Bank (NASDAQ:NBN) last announced its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.13. The firm had revenue of $38.47 million during the quarter, compared to analyst estimates of $36.98 million.

Northeast Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Monday, February 12th were paid a dividend of $0.01 per share. The ex-dividend date was Friday, February 9th. This represents a $0.04 dividend on an annualized basis and a yield of 0.08%. Northeast Bank’s dividend payout ratio (DPR) is presently 0.56%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NBN. Wellington Management Group LLP grew its holdings in Northeast Bank by 52.0% during the fourth quarter. Wellington Management Group LLP now owns 209,649 shares of the financial services provider’s stock worth $11,571,000 after buying an additional 71,724 shares in the last quarter. Kennedy Capital Management LLC grew its stake in shares of Northeast Bank by 6.7% in the 3rd quarter. Kennedy Capital Management LLC now owns 103,736 shares of the financial services provider’s stock worth $4,575,000 after acquiring an additional 6,544 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Northeast Bank by 7.2% in the fourth quarter. Russell Investments Group Ltd. now owns 59,706 shares of the financial services provider’s stock valued at $3,295,000 after purchasing an additional 3,989 shares during the last quarter. Polaris Capital Management LLC bought a new position in shares of Northeast Bank during the third quarter valued at about $1,200,000. Finally, Janney Montgomery Scott LLC boosted its holdings in Northeast Bank by 10.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 16,501 shares of the financial services provider’s stock worth $911,000 after purchasing an additional 1,619 shares during the last quarter.

About Northeast Bank

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.