KLP Kapitalforvaltning AS Has $357,000 Stock Holdings 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 increased its holdings in Northeast Bancorp (NASDAQ:NBN - Free Report) by 178.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,900 shares of the financial services provider's stock after buying an additional 2,500 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Northeast Bancorp were worth $357,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in Northeast Bancorp in the fourth quarter worth approximately $294,000. Vanguard Group Inc. lifted its position in Northeast Bancorp by 5.3% in the fourth quarter. Vanguard Group Inc. now owns 382,996 shares of the financial services provider's stock worth $35,132,000 after purchasing an additional 19,279 shares during the period. JPMorgan Chase & Co. lifted its position in Northeast Bancorp by 113.8% in the fourth quarter. JPMorgan Chase & Co. now owns 59,222 shares of the financial services provider's stock worth $5,432,000 after purchasing an additional 31,523 shares during the period. O Shaughnessy Asset Management LLC lifted its position in Northeast Bancorp by 5.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,433 shares of the financial services provider's stock worth $315,000 after purchasing an additional 186 shares during the period. Finally, Geode Capital Management LLC lifted its position in Northeast Bancorp by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 158,171 shares of the financial services provider's stock worth $14,513,000 after purchasing an additional 4,701 shares during the period.

Northeast Bancorp Price Performance

NBN traded down $6.17 during trading on Friday, reaching $93.00. The stock had a trading volume of 210,091 shares, compared to its average volume of 62,890. The firm has a market capitalization of $763.16 million, a price-to-earnings ratio of 9.23 and a beta of 0.59. 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 stock has a 50 day moving average of $89.69 and a two-hundred day moving average of $92.07.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) last released its earnings results on Monday, July 28th. The financial services provider reported $3.00 earnings per share 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 firm had revenue of $62.70 million during the quarter, compared to the consensus estimate of $56.50 million.

Northeast Bancorp Announces Dividend

The business also recently disclosed 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. 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 is 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.