Invesco Ltd. Has $8.52 Million Holdings in 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. decreased its position in Northeast Bancorp (NASDAQ:NBN - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 93,054 shares of the financial services provider's stock after selling 5,270 shares during the quarter. Invesco Ltd. owned 1.13% of Northeast Bancorp worth $8,518,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC grew its holdings in Northeast Bancorp by 136.8% during the 1st quarter. CWM LLC now owns 438 shares of the financial services provider's stock worth $40,000 after acquiring an additional 253 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Northeast Bancorp during the 4th quarter worth about $127,000. Comerica Bank bought a new stake in Northeast Bancorp during the 4th quarter worth about $192,000. PDT Partners LLC bought a new stake in Northeast Bancorp during the 4th quarter worth about $207,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Northeast Bancorp in the 4th quarter valued at about $219,000.

Northeast Bancorp Trading Up 0.0%

Shares of NASDAQ NBN traded up $0.03 during mid-day trading on Thursday, hitting $110.70. The company's stock had a trading volume of 88,794 shares, compared to its average volume of 92,955. The stock has a market cap of $908.85 million, a price-to-earnings ratio of 10.98 and a beta of 0.58. 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 one year low of $65.55 and a one year high of $111.50. The company's fifty day simple moving average is $97.12 and its 200-day simple moving average is $92.03.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) last issued its earnings results on Monday, July 28th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.46. The company had revenue of $62.70 million for the quarter, compared to analyst estimates of $56.50 million. Northeast Bancorp had a net margin of 23.77% and a return on equity of 19.19%.

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 given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date is Thursday, September 25th. Northeast Bancorp's dividend payout ratio (DPR) is currently 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.