Rafferty Asset Management LLC Buys Shares of 7,387 Northeast Bancorp $NBN

Key Points

• Rafferty Asset Management LLC has acquired a new stake in Northeast Bancorp, purchasing 7,387 shares valued at approximately $676,000.
• Other significant investments include Nuveen LLC and Deutsche Bank AG, who increased their stakes in Northeast Bancorp significantly during the first quarter.
• Northeast Bancorp recently reported earnings per share of $3.00, exceeding analyst expectations, and announced a quarterly dividend of $0.01 to be paid on October 9th.

Rafferty Asset Management LLC purchased a new stake in shares of Northeast Bancorp (NASDAQ:NBN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,387 shares of the financial services provider's stock, valued at approximately $676,000. Rafferty Asset Management LLC owned approximately 0.09% of Northeast Bancorp as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. CWM LLC increased its holdings in shares of Northeast Bancorp by 136.8% in the first quarter. CWM LLC now owns 438 shares of the financial services provider's stock worth $40,000 after buying an additional 253 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Northeast Bancorp in the fourth quarter worth about $127,000. Comerica Bank bought a new stake in shares of Northeast Bancorp in the fourth quarter worth about $192,000. The Manufacturers Life Insurance Company bought a new stake in shares of Northeast Bancorp in the fourth quarter worth about $219,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Northeast Bancorp in the first quarter worth about $220,000.

Northeast Bancorp Stock Down 0.2%

Northeast Bancorp stock traded down $0.21 during trading hours on Wednesday, hitting $109.13. 44,891 shares of the stock traded hands, compared to its average volume of 80,338. The firm's 50-day moving average price is $99.11 and its two-hundred day moving average price is $92.16. The company has a current ratio of 1.25, a quick ratio of 1.23 and a debt-to-equity ratio of 0.85. The company has a market cap of $895.96 million, a PE ratio of 10.83 and a beta of 0.63. Northeast Bancorp has a one year low of $65.55 and a one year high of $111.50.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) last announced its quarterly earnings data 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 net margin of 23.77% and a return on equity of 19.19%. The company had revenue of $62.70 million during the quarter, compared to analyst estimates of $56.50 million.

Northeast Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 25th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date is Thursday, September 25th. Northeast Bancorp's payout ratio is presently 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.