Boston Partners Purchases 2,687 Shares of Northeast Bancorp (NASDAQ:NBN)

Key Points

• Boston Partners acquired an additional 2,687 shares of Northeast Bancorp, increasing its ownership to 3.25% or 266,664 shares, valued at approximately $24.35 million.
• Northeast Bancorp recently announced a quarterly dividend of $0.01, with an ex-dividend date of September 25th and a yield of 0.0%.
• The company's latest earnings report showed an EPS of $3.00, exceeding analysts' expectations of $2.54, along with revenues of $62.70 million compared to an estimated $56.50 million.

Boston Partners lifted its position in shares of Northeast Bancorp (NASDAQ:NBN - Free Report) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 266,664 shares of the financial services provider's stock after purchasing an additional 2,687 shares during the quarter. Boston Partners owned 3.25% of Northeast Bancorp worth $24,353,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Northeast Bancorp during the first quarter worth $220,000. Citadel Advisors LLC acquired a new stake in shares of Northeast Bancorp during the fourth quarter worth $3,114,000. Northern Trust Corp raised its holdings 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 during the period. Millennium Management LLC raised its holdings in shares of Northeast Bancorp by 38.3% during the fourth quarter. Millennium Management LLC now owns 17,893 shares of the financial services provider's stock worth $1,641,000 after acquiring an additional 4,956 shares during the period. Finally, Janus Henderson Group PLC acquired a new stake in shares of Northeast Bancorp during the fourth quarter worth $357,000.

Northeast Bancorp Trading Down 0.4%

Shares of NASDAQ:NBN opened at $103.45 on Friday. Northeast Bancorp has a 12 month low of $64.91 and a 12 month high of $110.35. The company has a quick ratio of 1.23, a current ratio of 1.25 and a debt-to-equity ratio of 0.85. The company's fifty day simple moving average is $92.69 and its 200 day simple moving average is $91.85. The firm has a market cap of $849.32 million, a price-to-earnings ratio of 10.26 and a beta of 0.58.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The financial services provider reported $3.00 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 for the quarter, compared to analyst estimates of $56.50 million.

Northeast Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 25th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date is Thursday, September 25th. Northeast Bancorp's 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.

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