Goldman Sachs Group Inc. Purchases 7,579 Shares of Northeast Bancorp $NBN

Key Points

• Goldman Sachs Group Inc. has increased its holdings in Northeast Bancorp by 12.5%, now owning 68,362 shares valued at approximately $6.26 million.
• Northeast Bancorp's latest earnings report showed an EPS of $3.00, exceeding expectations and generating revenue of $62.70 million for the quarter.
• The company declared a quarterly dividend of $0.01 per share, with a payout ratio of 0.40% and an upcoming payment date of October 9th.

Goldman Sachs Group Inc. raised its position in Northeast Bancorp (NASDAQ:NBN - Free Report) by 12.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,362 shares of the financial services provider's stock after buying an additional 7,579 shares during the quarter. Goldman Sachs Group Inc. owned about 0.83% of Northeast Bancorp worth $6,258,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. CWM LLC raised its stake in shares of Northeast Bancorp by 136.8% in the first quarter. CWM LLC now owns 438 shares of the financial services provider's stock valued at $40,000 after buying an additional 253 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Northeast Bancorp in the fourth quarter valued at $127,000. Comerica Bank purchased a new position in shares of Northeast Bancorp in the fourth quarter valued at $192,000. The Manufacturers Life Insurance Company purchased a new position in Northeast Bancorp during the fourth quarter worth about $219,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in Northeast Bancorp during the first quarter worth about $220,000.

Northeast Bancorp Price Performance

Northeast Bancorp stock traded down $1.51 during midday trading on Friday, hitting $111.36. 21,171 shares of the company's stock were exchanged, compared to its average volume of 65,462. Northeast Bancorp has a 52-week low of $68.89 and a 52-week high of $113.01. The stock has a 50-day moving average price of $102.84 and a two-hundred day moving average price of $92.89. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.23 and a current ratio of 1.25. The company has a market cap of $913.78 million, a P/E ratio of 11.05 and a beta of 0.63.

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

Northeast Bancorp Announces Dividend

The company 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 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 yield of 0.0%. Northeast Bancorp's payout ratio is 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.