Vanguard Group Inc. Has $36.41 Million Position 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 first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 397,769 shares of the financial services provider's stock after purchasing an additional 14,773 shares during the quarter. Vanguard Group Inc. owned about 4.85% of Northeast Bancorp worth $36,412,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. GW&K Investment Management LLC raised 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 in the last quarter. Trevian Wealth Management LLC raised its holdings in shares of Northeast Bancorp by 1.1% during the 1st 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 raised its holdings in shares of Northeast Bancorp by 87.3% during the 1st quarter. Royce & Associates LP now owns 98,438 shares of the financial services provider's stock valued at $9,011,000 after purchasing an additional 45,893 shares in the last quarter. Northern Trust Corp raised its holdings in Northeast Bancorp by 10.3% in the 4th 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 during the period. Finally, Nuveen Asset Management LLC raised its holdings in Northeast Bancorp by 0.4% in the 4th 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 during the period.

Northeast Bancorp Stock Performance

NBN traded down $0.14 during trading on Monday, hitting $110.56. The stock had a trading volume of 69,376 shares, compared to its average volume of 85,024. The firm has a market cap of $907.70 million, a PE ratio of 10.97 and a beta of 0.63. Northeast Bancorp has a 12 month low of $65.55 and a 12 month high of $111.50. 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 50 day simple moving average of $98.17 and a 200-day simple moving average of $91.92.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) last announced its earnings results on Monday, July 28th. The financial services provider reported $3.00 EPS for the quarter, topping the consensus estimate 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 net margin of 23.77% and a return on equity of 19.19%.

Northeast Bancorp Announces Dividend

The company 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 annualized dividend and a yield of 0.0%. The ex-dividend date is Thursday, September 25th. Northeast Bancorp's dividend payout ratio (DPR) is 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.