Nuveen LLC Buys New Shares in Northeast Bancorp $NBN

Key Points

• Nuveen LLC acquired a new position in Northeast Bancorp, purchasing 88,366 shares valued at approximately $8,089,000, giving them a 1.08% ownership stake.
• Northeast Bancorp's recent quarterly earnings report revealed $3.00 earnings per share, surpassing estimates of $2.54, along with a revenue of $62.70 million.
• The company declared a quarterly dividend of $0.01, to be paid on October 9th, with a yield of 0.0% and a payout ratio of 0.40%.

Nuveen LLC acquired a new stake in shares of Northeast Bancorp (NASDAQ:NBN - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 88,366 shares of the financial services provider's stock, valued at approximately $8,089,000. Nuveen LLC owned 1.08% of Northeast Bancorp at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Northeast Bancorp by 3.9% during the first quarter. Vanguard Group Inc. now owns 397,769 shares of the financial services provider's stock valued at $36,412,000 after purchasing an additional 14,773 shares during the period. GW&K Investment Management LLC increased its position in shares of Northeast Bancorp by 31.7% during the first quarter. GW&K Investment Management LLC now owns 166,672 shares of the financial services provider's stock worth $15,257,000 after acquiring an additional 40,145 shares in the last quarter. Trevian Wealth Management LLC increased its position in shares of Northeast Bancorp by 1.1% during the first quarter. Trevian Wealth Management LLC now owns 153,516 shares of the financial services provider's stock worth $14,053,000 after acquiring an additional 1,665 shares in the last quarter. Royce & Associates LP increased its position in shares of Northeast Bancorp by 87.3% during the first quarter. Royce & Associates LP now owns 98,438 shares of the financial services provider's stock worth $9,011,000 after acquiring an additional 45,893 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Northeast Bancorp by 10.3% during the fourth quarter. Northern Trust Corp now owns 66,139 shares of the financial services provider's stock worth $6,067,000 after acquiring an additional 6,160 shares in the last quarter.

Northeast Bancorp Stock Up 1.1%

Shares of NASDAQ:NBN traded up $1.21 during midday trading on Tuesday, hitting $110.31. 83,205 shares of the company's stock were exchanged, compared to its average volume of 101,124. Northeast Bancorp has a 12 month low of $65.55 and a 12 month high of $110.81. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.25 and a quick ratio of 1.23. The stock has a 50 day moving average price of $95.98 and a 200-day moving average price of $91.87. The company has a market cap of $905.65 million, a PE ratio of 10.94 and a beta of 0.58.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The financial services provider reported $3.00 EPS for the quarter, beating analysts' consensus estimates of $2.54 by $0.46. Northeast Bancorp had a net margin of 23.77% and a return on equity of 19.19%. The company had revenue of $62.70 million for the quarter, compared to analysts' expectations of $56.50 million.

Northeast Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 25th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Northeast Bancorp's dividend payout ratio (DPR) is currently 0.40%.

Northeast Bancorp Company Profile

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.