Invesco Ltd. Sells 5,270 Shares of Northeast Bancorp $NBN

Key Points

• Invesco Ltd. has reduced its stake in Northeast Bancorp by 5.4%, owning approximately $8.52 million worth of shares after selling 5,270 during the first quarter.
• The company reported $3.00 EPS for the last quarter, exceeding estimates by $0.46, with revenue at $62.70 million against a consensus of $56.50 million.
• Northeast Bancorp is set to pay a quarterly dividend of $0.01 on October 9th, with a current dividend yield of 0.0%.

Invesco Ltd. lessened its holdings in shares of Northeast Bancorp (NASDAQ:NBN - Free Report) by 5.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,054 shares of the financial services provider's stock after selling 5,270 shares during the period. Invesco Ltd. owned approximately 1.13% of Northeast Bancorp worth $8,518,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Northeast Bancorp by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 397,769 shares of the financial services provider's stock valued at $36,412,000 after purchasing an additional 14,773 shares in the last quarter. GW&K Investment Management LLC lifted its holdings in shares of Northeast Bancorp by 31.7% during the 1st quarter. GW&K Investment Management LLC now owns 166,672 shares of the financial services provider's stock valued at $15,257,000 after purchasing an additional 40,145 shares in the last quarter. Trevian Wealth Management LLC lifted its holdings in shares of Northeast Bancorp by 1.1% during the 1st quarter. Trevian Wealth Management LLC now owns 153,516 shares of the financial services provider's stock valued at $14,053,000 after purchasing an additional 1,665 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of Northeast Bancorp by 87.3% during the 1st quarter. Royce & Associates LP now owns 98,438 shares of the financial services provider's stock valued at $9,011,000 after purchasing an additional 45,893 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Northeast Bancorp by 10.3% during the 4th quarter. Northern Trust Corp now owns 66,139 shares of the financial services provider's stock valued at $6,067,000 after purchasing an additional 6,160 shares in the last quarter.

Northeast Bancorp Stock Down 0.1%

Shares of NASDAQ:NBN traded down $0.14 during trading on Friday, hitting $110.56. 69,376 shares of the company's stock traded hands, compared to its average volume of 85,024. Northeast Bancorp has a 52 week low of $65.55 and a 52 week high of $111.50. The company has a current ratio of 1.25, a quick ratio of 1.23 and a debt-to-equity ratio of 0.85. The company has a market cap of $907.26 million, a price-to-earnings ratio of 10.97 and a beta of 0.63. The company has a 50-day moving average price of $97.68 and a 200-day moving average price of $91.87.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The financial services provider reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.46. The business had revenue of $62.70 million for the quarter, compared to analysts' expectations 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 company also recently announced 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. The ex-dividend date is Thursday, September 25th. This represents a $0.04 annualized dividend and a yield of 0.0%. Northeast Bancorp's payout ratio is presently 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.