Deutsche Bank AG Boosts Stake in Northeast Bancorp $NBN

Key Points

• Deutsche Bank AG significantly increased its stake in Northeast Bancorp by 511.9%, owning 27,988 shares valued at approximately $2.56 million by the end of the first quarter.
• Northeast Bancorp reported an earnings per share (EPS) of $3.00, surpassing the consensus estimate of $2.54, with revenue of $62.70 million compared to the estimated $56.50 million.
• The company recently declared a quarterly dividend of $0.01, with an annualized yield of 0.0%, and the dividend payout ratio is noted to be 0.40%.

Deutsche Bank AG boosted its position in shares of Northeast Bancorp (NASDAQ:NBN - Free Report) by 511.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,988 shares of the financial services provider's stock after buying an additional 23,414 shares during the period. Deutsche Bank AG owned 0.34% of Northeast Bancorp worth $2,562,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CWM LLC grew its stake in shares of Northeast Bancorp by 136.8% in the 1st quarter. CWM LLC now owns 438 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 253 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Northeast Bancorp in the 4th quarter valued at approximately $127,000. Comerica Bank purchased a new position in shares of Northeast Bancorp in the 4th quarter valued at approximately $192,000. PDT Partners LLC purchased a new position in shares of Northeast Bancorp in the 4th quarter valued at approximately $207,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Northeast Bancorp in the 4th quarter valued at approximately $219,000.

Northeast Bancorp Stock Performance

Shares of NBN stock traded up $0.82 during midday trading on Monday, hitting $109.10. The company had a trading volume of 86,393 shares, compared to its average volume of 101,947. The company's 50 day simple moving average is $95.40 and its 200 day simple moving average is $91.74. Northeast Bancorp has a 52-week low of $65.55 and a 52-week high of $110.35. The stock has a market cap of $895.27 million, a price-to-earnings ratio of 10.82 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 (NASDAQ:NBN - Get Free Report) last announced its earnings results 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. Northeast Bancorp had a return on equity of 19.19% and a net margin of 23.77%.The company 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. Shareholders of record on Thursday, September 25th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date is Thursday, September 25th. Northeast Bancorp's dividend payout ratio (DPR) 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.