Wellington Management Group LLP Grows Position in Northeast Bancorp $NBN

Key Points

• Wellington Management Group LLP increased its stake in Northeast Bancorp by 5.2%, owning a total of 117,123 shares valued at approximately $10.72 million.
• Northeast Bancorp recently reported earnings of $3.00 per share, exceeding expectations and achieving a net margin of 23.77% for the quarter.
• The company declared a quarterly dividend of $0.01, which reflects a 0.0% dividend yield and will be paid on October 9th to shareholders of record on September 25th.

Wellington Management Group LLP grew its holdings in Northeast Bancorp (NASDAQ:NBN - Free Report) by 5.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 117,123 shares of the financial services provider's stock after buying an additional 5,752 shares during the period. Wellington Management Group LLP owned approximately 1.43% of Northeast Bancorp worth $10,721,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Northeast Bancorp in the 1st quarter worth $220,000. Citadel Advisors LLC purchased a new position in shares of Northeast Bancorp in the 4th quarter worth $3,114,000. American Century Companies Inc. grew its stake in shares of Northeast Bancorp by 11.4% in the 1st quarter. American Century Companies Inc. now owns 192,279 shares of the financial services provider's stock worth $17,601,000 after buying an additional 19,741 shares in the last quarter. Northern Trust Corp grew its stake in shares of 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 buying an additional 6,160 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Northeast Bancorp by 38.3% in the 4th quarter. Millennium Management LLC now owns 17,893 shares of the financial services provider's stock worth $1,641,000 after buying an additional 4,956 shares in the last quarter.

Northeast Bancorp Trading Down 0.1%

Shares of NBN stock traded down $0.14 during trading hours on Friday, reaching $110.56. 69,376 shares of the stock were exchanged, compared to its average volume of 92,059. 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's 50-day moving average price is $97.68 and its 200-day moving average price is $91.96. The firm has a market capitalization of $907.70 million, a price-to-earnings ratio of 10.97 and a beta of 0.58.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) last released its quarterly 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 firm had revenue of $62.70 million during the quarter, compared to analysts' expectations of $56.50 million.

Northeast Bancorp Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Northeast Bancorp's payout ratio is currently 0.40%.

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.