Deutsche Bank AG Purchases 23,414 Shares of 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 increased its holdings in Northeast Bancorp (NASDAQ:NBN - Free Report) by 511.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,988 shares of the financial services provider's stock after acquiring an additional 23,414 shares during the quarter. Deutsche Bank AG owned about 0.34% of Northeast Bancorp worth $2,562,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its position in Northeast Bancorp by 36.9% during the 4th quarter. Wells Fargo & Company MN now owns 4,122 shares of the financial services provider's stock valued at $378,000 after acquiring an additional 1,111 shares in the last quarter. Invesco Ltd. raised its position in shares of Northeast Bancorp by 17.2% in the 4th quarter. Invesco Ltd. now owns 98,324 shares of the financial services provider's stock worth $9,019,000 after acquiring an additional 14,427 shares in the last quarter. Legal & General Group Plc raised its position in shares of Northeast Bancorp by 852.4% in the 4th quarter. Legal & General Group Plc now owns 5,819 shares of the financial services provider's stock worth $534,000 after acquiring an additional 5,208 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Northeast Bancorp in the 4th quarter valued at approximately $294,000. Finally, Barclays PLC boosted its position in shares of Northeast Bancorp by 42.6% during the fourth quarter. Barclays PLC now owns 12,331 shares of the financial services provider's stock valued at $1,131,000 after purchasing an additional 3,685 shares in the last quarter.

Northeast Bancorp Stock Up 6.0%

Shares of NASDAQ:NBN traded up $6.12 during midday trading on Friday, reaching $108.28. The company's stock had a trading volume of 87,032 shares, compared to its average volume of 105,518. The company has a quick ratio of 1.23, a current ratio of 1.25 and a debt-to-equity ratio of 0.85. The firm has a 50 day moving average of $94.88 and a 200-day moving average of $91.92. The firm has a market capitalization of $888.98 million, a P/E ratio of 10.74 and a beta of 0.58. Northeast Bancorp has a 12-month low of $65.12 and a 12-month high of $110.35.

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 (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.46. The firm had revenue of $62.70 million during 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 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 paid 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 of this dividend is Thursday, September 25th. Northeast Bancorp's dividend payout ratio is currently 0.40%.

About Northeast Bancorp

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.