Northeast Bancorp (NASDAQ:NBN) Shares Bought by Royce & Associates LP

Key Points

• Royce & Associates LP increased its ownership in Northeast Bancorp by 87.3% during the first quarter, now holding approximately 1.20% of the company's stock worth $9,011,000.
• Multiple institutional investors, including KLP Kapitalforvaltning AS and GW&K Investment Management LLC, have also significantly increased their stakes in Northeast Bancorp during the same period.
• Northeast Bancorp reported a quarterly EPS of $2.23, which fell short of analysts' expectations, yet maintained a revenue of $52.57 million.

Royce & Associates LP grew its position in shares of Northeast Bancorp (NASDAQ:NBN - Free Report) by 87.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,438 shares of the financial services provider's stock after buying an additional 45,893 shares during the quarter. Royce & Associates LP owned 1.20% of Northeast Bancorp worth $9,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of NBN. GW&K Investment Management LLC boosted its holdings in shares of Northeast Bancorp by 31.7% during the 1st quarter. GW&K Investment Management LLC now owns 166,672 shares of the financial services provider's stock valued at $15,257,000 after purchasing an additional 40,145 shares during the last quarter. Citadel Advisors LLC bought a new position in shares of Northeast Bancorp during the 4th quarter valued at about $3,114,000. JPMorgan Chase & Co. boosted its holdings in shares of Northeast Bancorp by 113.8% during the 4th quarter. JPMorgan Chase & Co. now owns 59,222 shares of the financial services provider's stock valued at $5,432,000 after purchasing an additional 31,523 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Northeast Bancorp by 17.1% during the 4th quarter. American Century Companies Inc. now owns 172,538 shares of the financial services provider's stock valued at $15,827,000 after purchasing an additional 25,220 shares during the last quarter. Finally, Tudor Investment Corp ET AL bought a new position in shares of Northeast Bancorp during the 4th quarter valued at about $2,028,000.

Northeast Bancorp Trading Up 2.5%

Shares of NASDAQ:NBN traded up $2.49 during trading on Tuesday, reaching $100.15. The company's stock had a trading volume of 36,774 shares, compared to its average volume of 60,029. The company has a current ratio of 1.25, a quick ratio of 1.23 and a debt-to-equity ratio of 0.85. Northeast Bancorp has a 12 month low of $61.74 and a 12 month high of $110.35. The firm's 50 day simple moving average is $88.65 and its two-hundred day simple moving average is $91.88. The stock has a market capitalization of $821.83 million, a PE ratio of 11.14 and a beta of 0.59.

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 (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.46. The business had revenue of $62.70 million during the quarter, compared to the consensus estimate of $56.50 million. Northeast Bancorp had a net margin of 22.84% and a return on equity of 17.46%.

Northeast Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 25th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.04%. Northeast Bancorp's dividend payout ratio is currently 0.44%.

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.