Northeast Bank (NASDAQ:NBN) Short Interest Update.

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Northeast Bank (NASDAQ:NBN- received rating) recorded a sharp increase in short-term interest rates in May. On May 15th there was short interest totaling 74,200 shares, up 44.9% from April 30th of 51,200 shares total. Based on an average daily trading volume of 34,400 shares, the short interest rate ratio is currently 2.2 days. Currently 1.0% of shares of the stock are shorted.

Shares of NBN rose $0.24 on Friday afternoon to hit $37.94. The company had a trading volume of 31,561 shares compared to its average volume of 34,258. Northeast Bank has a 1-year low of $28.27 and a 1-year high of $41.05. The stock has a market cap of $316.42 million, a P/E of 5.82 and a beta of 1.37. The company has a 50-day simple moving average of $35.54 and a 200-day simple moving average of $35.72.

Northeast Bank (NASDAQ:NBN- received rating) last released its quarterly earnings data on Monday, April 25th. The financial services firm reported earnings per share (EPS) of $1.36 for the quarter, beating analyst consensus estimates of $1.17 by $0.19. In the same period last year, the company earned $4.06 per share.

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 18th. Registered investors received a dividend of $0.01 per share on Wednesday, May 4th. That equates to a dividend of $0.04 on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend was Tuesday May 3rd. Northeast Bank’s payout ratio is 0.61%.

Separately, StockNews.com Downgraded Northeast Bank from a “buy” rating to a “hold” rating in a report Monday, May 23.

Major investors recently changed their stakes in the company. Connor Clark & ​​Lunn Investment Management Ltd. increased its position in Northeast Bank shares by 31.6% in the fourth quarter. Connor Clark & ​​Lunn Investment Management Ltd. now owns 11,330 shares of the financial services firm, valued at $405,000, after purchasing an additional 2,720 shares last quarter. Ellsworth Advisors LLC acquired a new interest in Northeast Bank stock valued at approximately $499,000 during the fourth quarter. American Century Companies Inc. increased its position in Northeast Bank shares by 35.0% in the fourth quarter. American Century Companies Inc. now owns 32,428 shares of the financial services provider, valued at $1,159,000, after purchasing an additional 8,406 shares last quarter. Hotchkis & Wiley Capital Management LLC acquired a new interest in Northeast Bank stock valued at approximately $1,762,000 during the third quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Northeast Bank stock by 92.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 30,263 shares of the financial services provider valued at $1,020,000 after purchasing an additional 14,563 shares during the period. Institutional investors own 50.04% of the company’s shares.

About the Northeast Bank (received rating)

Northeast Bank provides banking services to individuals and businesses in Maine. The Company’s deposit products include demand deposits, NOW, money market, savings deposits, certificates of deposit and individual retirement and checking accounts. The loan portfolio includes residential mortgage loans; Loans for apartment buildings and other commercial real estate; commercial and industrial loans such as term loans, lines of credit and equipment and accounts receivable financing; consumer loans consisting of mobile homes and bank overdrafts and deposit-backed loans; and small business loans.

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