Northeast Bancorp (NASDAQ:NBN) to Issue $0.01 Quarterly Dividend

Key Points

• Northeast Bancorp has declared a quarterly dividend of $0.01 per share, with an annualized yield of 0.04%, to be paid on October 9th to investors of record as of September 25th.
• The company reported earnings of $3.00 EPS for the quarter, surpassing analysts' estimates, with a return on equity of 17.46% and a net margin of 22.84%.
• Northeast Bancorp's stock has a market capitalization of approximately $801.79 million, with a current trading price of $97.66 and a P/E ratio of 10.86.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) declared a quarterly dividend on Monday, July 28th, RTT News reports. Investors of record on Thursday, September 25th will be paid a dividend of 0.01 per share by the financial services provider on Thursday, October 9th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%.

Northeast Bancorp has a payout ratio of 0.3% indicating that its dividend is sufficiently covered by earnings.

Northeast Bancorp Stock Performance

NASDAQ:NBN traded up $1.78 during trading hours on Monday, reaching $97.66. 102,823 shares of the stock were exchanged, compared to its average volume of 60,204. The company has a quick ratio of 1.23, a current ratio of 1.25 and a debt-to-equity ratio of 0.85. The firm has a 50 day simple moving average of $88.40 and a 200-day simple moving average of $91.83. Northeast Bancorp has a 52 week low of $61.74 and a 52 week high of $110.35. The stock has a market capitalization of $801.79 million, a P/E ratio of 10.86 and a beta of 0.59.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) last released its 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 return on equity of 17.46% and a net margin of 22.84%.

Hedge Funds Weigh In On Northeast Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in NBN. Dynamic Technology Lab Private Ltd boosted its holdings in 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 purchasing an additional 375 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Northeast Bancorp by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,157 shares of the financial services provider's stock worth $381,000 after acquiring an additional 175 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Northeast Bancorp in the 1st quarter worth approximately $411,000. AQR Capital Management LLC boosted its holdings in shares of Northeast Bancorp by 61.3% in the 1st quarter. AQR Capital Management LLC now owns 9,324 shares of the financial services provider's stock worth $854,000 after acquiring an additional 3,542 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Northeast Bancorp by 12.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 68,362 shares of the financial services provider's stock worth $6,258,000 after acquiring an additional 7,579 shares in the last quarter.

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.

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