Wellington Management Group LLP Acquires 5,752 Shares of 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 boosted its position in shares of Northeast Bancorp (NASDAQ:NBN - Free Report) by 5.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 117,123 shares of the financial services provider's stock after purchasing an additional 5,752 shares during the quarter. Wellington Management Group LLP owned 1.43% of Northeast Bancorp worth $10,721,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. CWM LLC grew its holdings in Northeast Bancorp by 136.8% during the first quarter. CWM LLC now owns 438 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 253 shares during the period. Point72 Asset Management L.P. acquired a new position in Northeast Bancorp during the fourth quarter valued at approximately $127,000. Comerica Bank acquired a new position in Northeast Bancorp during the fourth quarter valued at approximately $192,000. PDT Partners LLC acquired a new position in Northeast Bancorp during the fourth quarter valued at approximately $207,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Northeast Bancorp during the fourth quarter valued at approximately $219,000.

Northeast Bancorp Stock Down 1.1%

Shares of Northeast Bancorp stock traded down $1.22 on Tuesday, hitting $109.34. The company had a trading volume of 46,490 shares, compared to its average volume of 80,338. The firm has a market capitalization of $897.68 million, a P/E ratio of 10.85 and a beta of 0.63. Northeast Bancorp has a twelve month low of $65.55 and a twelve month high of $111.50. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.25 and a quick ratio of 1.23. The stock has a 50-day moving average of $98.63 and a 200-day moving average of $92.05.

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

Northeast Bancorp Dividend Announcement

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