Vanguard Group Inc. Increases Stock Holdings in Northeast Bancorp $NBN

Key Points

• Vanguard Group Inc. increased its stake in Northeast Bancorp by 3.9% during the 1st quarter, owning approximately 4.85% of the company, valued at $36.4 million as of its latest SEC filing.
• Other hedge funds, including Wells Fargo and Legal & General Group, also boosted their positions in Northeast Bancorp, reflecting growing interest from institutional investors.
• Northeast Bancorp reported earnings of $3.00 per share, exceeding analysts' estimates, and declared a quarterly dividend of $0.01 to be distributed on October 9th.

Vanguard Group Inc. grew its holdings in shares of Northeast Bancorp (NASDAQ:NBN - Free Report) by 3.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 397,769 shares of the financial services provider's stock after buying an additional 14,773 shares during the period. Vanguard Group Inc. owned 4.85% of Northeast Bancorp worth $36,412,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. GW&K Investment Management LLC increased its stake in shares of Northeast Bancorp by 31.7% during the first quarter. GW&K Investment Management LLC now owns 166,672 shares of the financial services provider's stock valued at $15,257,000 after buying an additional 40,145 shares during the period. Trevian Wealth Management LLC boosted its position in shares of Northeast Bancorp by 1.1% during the first quarter. Trevian Wealth Management LLC now owns 153,516 shares of the financial services provider's stock valued at $14,053,000 after purchasing an additional 1,665 shares in the last quarter. Royce & Associates LP boosted its holdings in Northeast Bancorp by 87.3% in the first quarter. Royce & Associates LP now owns 98,438 shares of the financial services provider's stock worth $9,011,000 after acquiring an additional 45,893 shares in the last quarter. Northern Trust Corp boosted its holdings in Northeast Bancorp by 10.3% in the fourth quarter. Northern Trust Corp now owns 66,139 shares of the financial services provider's stock worth $6,067,000 after acquiring an additional 6,160 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in Northeast Bancorp by 0.4% in the fourth quarter. Nuveen Asset Management LLC now owns 57,181 shares of the financial services provider's stock worth $5,245,000 after acquiring an additional 238 shares in the last quarter.

Northeast Bancorp Stock Performance

Shares of NASDAQ:NBN traded down $0.14 during midday trading on Friday, reaching $110.56. 69,376 shares of the company's stock traded hands, compared to its average volume of 92,059. The company has a market cap of $907.70 million, a price-to-earnings ratio of 10.97 and a beta of 0.58. 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 one year low of $65.55 and a one year high of $111.50. The stock has a 50 day moving average of $97.68 and a 200 day moving average of $91.96.

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

Northeast Bancorp Announces Dividend

The business also recently announced 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 of this dividend is Thursday, September 25th. Northeast Bancorp's dividend payout ratio (DPR) is currently 0.40%.

Northeast Bancorp Company 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.