KLP Kapitalforvaltning AS Boosts Stock Position in Northeast Bancorp (NASDAQ:NBN)

Key Points

• KLP Kapitalforvaltning AS increased its holdings in Northeast Bancorp by 178.6% in the first quarter, reaching a total value of $357,000.
• The financial services provider reported earnings of $3.00 per share for the last quarter, exceeding analyst expectations by $0.46.
• Northeast Bancorp declared a quarterly dividend of $0.01, with an annualized dividend yield of 0.04%, set to be paid on October 9th.

KLP Kapitalforvaltning AS boosted its position in Northeast Bancorp (NASDAQ:NBN - Free Report) by 178.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,900 shares of the financial services provider's stock after purchasing an additional 2,500 shares during the period. KLP Kapitalforvaltning AS's holdings in Northeast Bancorp were worth $357,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of NBN. CWM LLC lifted its holdings in Northeast Bancorp by 136.8% in the 1st quarter. CWM LLC now owns 438 shares of the financial services provider's stock worth $40,000 after purchasing an additional 253 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Northeast Bancorp in the 4th quarter worth approximately $127,000. Federated Hermes Inc. lifted its holdings in Northeast Bancorp by 44.4% in the 4th quarter. Federated Hermes Inc. now owns 1,557 shares of the financial services provider's stock worth $143,000 after purchasing an additional 479 shares in the last quarter. Comerica Bank purchased a new position in Northeast Bancorp in the 4th quarter worth approximately $192,000. Finally, PDT Partners LLC purchased a new position in Northeast Bancorp in the 4th quarter worth approximately $207,000.

Northeast Bancorp Price Performance

NASDAQ NBN traded down $6.17 during trading hours on Friday, reaching $93.00. The company's stock had a trading volume of 210,091 shares, compared to its average volume of 107,167. The company has a quick ratio of 1.23, a current ratio of 1.25 and a debt-to-equity ratio of 0.85. Northeast Bancorp has a 1 year low of $61.74 and a 1 year high of $110.35. The firm's 50-day moving average price is $89.92 and its 200-day moving average price is $91.99. The company has a market capitalization of $763.53 million, a price-to-earnings ratio of 9.23 and a beta of 0.58.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $56.50 million.

Northeast Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 25th will be given 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 dividend yield of 0.0%. Northeast Bancorp's payout ratio 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.