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

Several other hedge funds have also added to or reduced their stakes in NBN. CWM LLC lifted its holdings 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 purchasing an additional 253 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Northeast Bancorp in the 4th quarter worth $127,000. Comerica Bank acquired a new stake in shares of Northeast Bancorp in the 4th quarter valued at about $192,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Northeast Bancorp in the 4th quarter valued at about $219,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Northeast Bancorp in the 1st quarter valued at approximately $220,000.

Northeast Bancorp Stock Up 0.3%

NBN stock traded up $0.36 during midday trading on Wednesday, hitting $109.01. The company's stock had a trading volume of 80,669 shares, compared to its average volume of 65,729. The company's fifty day moving average price is $102.52 and its 200 day moving average price is $92.80. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.25 and a quick ratio of 1.23. Northeast Bancorp has a twelve month low of $68.89 and a twelve month high of $112.22. The stock has a market capitalization of $894.97 million, a P/E ratio of 10.81 and a beta of 0.63.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $56.50 million.

Northeast Bancorp Announces Dividend

The company also recently declared 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. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend is Thursday, September 25th. Northeast Bancorp's dividend payout ratio (DPR) is presently 0.40%.

Northeast Bancorp 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.