GW&K Investment Management LLC Increases Holdings in Northeast Bancorp (NASDAQ:NBN)

GW&K Investment Management LLC lifted its stake in Northeast Bancorp (NASDAQ:NBN - Free Report) by 31.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 166,672 shares of the financial services provider's stock after purchasing an additional 40,145 shares during the period. GW&K Investment Management LLC owned 2.03% of Northeast Bancorp worth $15,257,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of NBN. Allspring Global Investments Holdings LLC purchased a new stake in Northeast Bancorp in the first quarter worth about $220,000. Citadel Advisors LLC bought a new position in shares of Northeast Bancorp in the 4th quarter worth approximately $3,114,000. Northern Trust Corp raised its position in shares of Northeast Bancorp by 10.3% in the 4th 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 in the last quarter. Millennium Management LLC lifted its stake in shares of Northeast Bancorp by 38.3% in the 4th quarter. Millennium Management LLC now owns 17,893 shares of the financial services provider's stock valued at $1,641,000 after purchasing an additional 4,956 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Northeast Bancorp during the fourth quarter valued at approximately $294,000.

Northeast Bancorp Stock Down 0.6%

NBN stock traded down $0.57 during midday trading on Friday, hitting $95.88. The stock had a trading volume of 158,463 shares, compared to its average volume of 105,029. The business has a 50-day moving average of $88.40 and a two-hundred day moving average of $91.84. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.25 and a quick ratio of 1.23. The firm has a market cap of $787.17 million, a price-to-earnings ratio of 10.67 and a beta of 0.59. Northeast Bancorp has a 52-week low of $61.74 and a 52-week high of $110.35.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) last announced its earnings results on Tuesday, April 29th. The financial services provider reported $2.23 EPS for the quarter, missing analysts' consensus estimates of $2.83 by ($0.60). The business had revenue of $52.57 million for the quarter, compared to the consensus estimate of $50.09 million. Northeast Bancorp had a net margin of 22.84% and a return on equity of 17.46%.

Northeast Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date of this dividend was Tuesday, May 13th. Northeast Bancorp's dividend payout ratio (DPR) is presently 0.44%.

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.