Northeast Bancorp $NBN Shares Purchased by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Northeast Bancorp by 11.4%, bringing its total ownership to 192,279 shares valued at approximately $17.6 million.
• Northeast Bancorp's stock price rose 6.0% recently, with the share trading at $108.28 and a market capitalization of $888.98 million.
• The company reported a quarterly earnings per share of $3.00, exceeding analysts' expectations, along with a new quarterly dividend of $0.01 announced for October 9th.

American Century Companies Inc. increased its stake in Northeast Bancorp (NASDAQ:NBN - Free Report) by 11.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 192,279 shares of the financial services provider's stock after acquiring an additional 19,741 shares during the quarter. American Century Companies Inc. owned approximately 2.34% of Northeast Bancorp worth $17,601,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Boston Partners grew its holdings in shares of Northeast Bancorp by 1.0% during the first quarter. Boston Partners now owns 266,664 shares of the financial services provider's stock worth $24,353,000 after buying an additional 2,687 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Northeast Bancorp by 2.4% during the first quarter. Russell Investments Group Ltd. now owns 51,751 shares of the financial services provider's stock worth $4,737,000 after buying an additional 1,203 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Northeast Bancorp during the first quarter worth $8,089,000. Deutsche Bank AG grew its holdings in shares of Northeast Bancorp by 511.9% during the first quarter. Deutsche Bank AG now owns 27,988 shares of the financial services provider's stock worth $2,562,000 after buying an additional 23,414 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Northeast Bancorp by 1.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 20,188 shares of the financial services provider's stock worth $1,848,000 after buying an additional 313 shares in the last quarter.

Northeast Bancorp Price Performance

Shares of Northeast Bancorp stock traded down $0.14 during trading hours on Friday, reaching $110.56. 69,376 shares of the company's stock were exchanged, compared to its average volume of 92,059. Northeast Bancorp has a 1 year low of $65.55 and a 1 year high of $111.50. The company has a market capitalization of $907.70 million, a P/E ratio of 10.97 and a beta of 0.58. The business has a fifty day moving average of $97.68 and a two-hundred day moving average of $91.96. The company has a quick ratio of 1.23, a current ratio of 1.25 and a debt-to-equity ratio of 0.85.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) last released its earnings results on Monday, July 28th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, topping 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 business had revenue of $62.70 million during the quarter, compared to analyst estimates of $56.50 million.

Northeast Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.0%. Northeast Bancorp's dividend payout ratio is presently 0.40%.

About Northeast Bancorp

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.