American Century Companies Inc. Purchases 19,741 Shares of Northeast Bancorp $NBN

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. grew its position in shares of Northeast Bancorp (NASDAQ:NBN - Free Report) by 11.4% in the first quarter, according to its most recent filing with the SEC. The fund 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 about 2.34% of Northeast Bancorp worth $17,601,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Nuveen Asset Management LLC boosted its position in shares of Northeast Bancorp by 0.4% during the 4th quarter. Nuveen Asset Management LLC now owns 57,181 shares of the financial services provider's stock valued at $5,245,000 after acquiring an additional 238 shares during the last quarter. CWM LLC boosted its position in shares of Northeast Bancorp by 136.8% during the 1st quarter. CWM LLC now owns 438 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 253 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Northeast Bancorp by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,188 shares of the financial services provider's stock valued at $1,848,000 after acquiring an additional 313 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Northeast Bancorp by 10.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,982 shares of the financial services provider's stock valued at $365,000 after acquiring an additional 388 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Northeast Bancorp by 36.9% during the 4th quarter. Wells Fargo & Company MN now owns 4,122 shares of the financial services provider's stock valued at $378,000 after acquiring an additional 1,111 shares during the last quarter.

Northeast Bancorp Stock Up 6.0%

NASDAQ NBN opened at $108.28 on Monday. The company has a market capitalization of $888.98 million, a P/E ratio of 10.74 and a beta of 0.58. The stock has a 50 day moving average price of $94.88 and a 200-day moving average price of $91.74. Northeast Bancorp has a one year low of $65.12 and a one year high of $110.35. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.23 and a current ratio of 1.25.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) last issued its quarterly 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. The company had revenue of $62.70 million during the quarter, compared to the consensus estimate of $56.50 million. Northeast Bancorp had a return on equity of 19.19% and a net margin of 23.77%.

Northeast Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 25th will be given a $0.01 dividend. The ex-dividend date is Thursday, September 25th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Northeast Bancorp's dividend payout ratio (DPR) is currently 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.

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