Northeast Bancorp (NASDAQ:NBN) Posts Earnings Results, Beats Expectations By $0.46 EPS

Key Points

• Northeast Bancorp reported earnings of $3.00 per share, exceeding analysts' expectations of $2.54 by $0.46.
• The company announced a quarterly dividend of $0.01 per share, with a dividend yield of 0.04% and a payout ratio of 0.44%.
• Shares of Northeast Bancorp increased by 1.9% during trading, reaching $97.66, with a market cap of $801.79 million.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) released its quarterly earnings data on Monday. The financial services provider reported $3.00 earnings per share for the quarter, beating analysts' consensus estimates of $2.54 by $0.46, Zacks reports. Northeast Bancorp had a return on equity of 17.46% and a net margin of 22.84%.

Northeast Bancorp Trading Up 1.9%

Shares of Northeast Bancorp stock traded up $1.78 during midday trading on Monday, reaching $97.66. 102,823 shares of the company's stock traded hands, compared to its average volume of 60,204. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.23 and a current ratio of 1.25. The company has a market cap of $801.79 million, a PE ratio of 10.86 and a beta of 0.59. The stock has a 50 day moving average of $88.40 and a 200-day moving average of $91.83. Northeast Bancorp has a 12 month low of $61.74 and a 12 month high of $110.35.

Northeast Bancorp Announces Dividend

The firm 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 dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. Northeast Bancorp's dividend payout ratio is presently 0.44%.

Hedge Funds Weigh In On Northeast Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC raised its holdings in Northeast Bancorp by 61.3% in the first quarter. AQR Capital Management LLC now owns 9,324 shares of the financial services provider's stock worth $854,000 after purchasing an additional 3,542 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Northeast Bancorp by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,157 shares of the financial services provider's stock worth $381,000 after purchasing an additional 175 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in shares of Northeast Bancorp by 15.7% during the first quarter. Dynamic Technology Lab Private Ltd now owns 2,765 shares of the financial services provider's stock valued at $253,000 after acquiring an additional 375 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Northeast Bancorp by 12.5% during the first quarter. Goldman Sachs Group Inc. now owns 68,362 shares of the financial services provider's stock valued at $6,258,000 after acquiring an additional 7,579 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Northeast Bancorp during the first quarter valued at $411,000.

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.

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