Hotchkis & Wiley Capital Management LLC Buys 6,313 Shares of Northeast Bancorp $NBN

Key Points

• Hotchkis & Wiley Capital Management LLC increased its holdings in Northeast Bancorp by 23.4%, owning a total of 33,249 shares worth approximately $3,044,000 as of the most recent SEC filing.
• The firm's latest earnings report showed an EPS of $3.00, exceeding analyst expectations by $0.46 and generating a revenue of $62.70 million during the quarter.
• Northeast Bancorp will pay a quarterly dividend of $0.01 per share to shareholders on record as of September 25, reflecting an annualized yield of 0.0%.

Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Northeast Bancorp (NASDAQ:NBN - Free Report) by 23.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,249 shares of the financial services provider's stock after purchasing an additional 6,313 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 0.41% of Northeast Bancorp worth $3,044,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Nuveen Asset Management LLC increased its position in shares of Northeast Bancorp by 0.4% during the 4th quarter. Nuveen Asset Management LLC now owns 57,181 shares of the financial services provider's stock valued at $5,245,000 after purchasing an additional 238 shares during the last quarter. CWM LLC increased its position in shares of Northeast Bancorp by 136.8% during 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. Charles Schwab Investment Management Inc. increased its position in shares of Northeast Bancorp by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,188 shares of the financial services provider's stock valued at $1,848,000 after purchasing an additional 313 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Northeast Bancorp by 10.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,982 shares of the financial services provider's stock valued at $365,000 after purchasing an additional 388 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of 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 purchasing an additional 1,111 shares during the last quarter.

Northeast Bancorp Stock Performance

Shares of NASDAQ NBN traded down $0.14 during midday trading on Monday, hitting $110.56. 69,376 shares of the company's stock traded hands, compared to its average volume of 85,024. The firm has a fifty day moving average of $98.17 and a 200 day moving average of $91.92. The stock has a market capitalization of $907.70 million, a price-to-earnings ratio of 10.97 and a beta of 0.63. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.23 and a current ratio of 1.25. Northeast Bancorp has a 1 year low of $65.55 and a 1 year high of $111.50.

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

Northeast Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 25th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend is Thursday, September 25th. Northeast Bancorp's dividend payout ratio (DPR) is 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.