2,405 Shares in Northeast Bancorp (NASDAQ:NBN) Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC acquired a new position in shares of Northeast Bancorp (NASDAQ:NBN) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,405 shares of the financial services provider’s stock, valued at approximately $220,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management raised its position in Northeast Bancorp by 57.6% in the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 118 shares during the period. O Shaughnessy Asset Management LLC raised its position in Northeast Bancorp by 5.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,433 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 186 shares during the period. Sterling Capital Management LLC raised its position in Northeast Bancorp by 2.9% in the fourth quarter. Sterling Capital Management LLC now owns 6,633 shares of the financial services provider’s stock valued at $608,000 after purchasing an additional 187 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Northeast Bancorp by 0.4% during the 4th quarter. Nuveen Asset Management LLC now owns 57,181 shares of the financial services provider’s stock worth $5,245,000 after purchasing an additional 238 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Northeast Bancorp by 10.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,982 shares of the financial services provider’s stock worth $365,000 after purchasing an additional 388 shares during the period.

Northeast Bancorp Stock Performance

NASDAQ:NBN opened at $95.64 on Friday. 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 stock has a market capitalization of $785.20 million, a P/E ratio of 10.64 and a beta of 0.59. The company has a 50 day moving average price of $86.25 and a 200 day moving average price of $91.60. Northeast Bancorp has a fifty-two week low of $61.74 and a fifty-two week high of $110.35.

Northeast Bancorp (NASDAQ:NBN) last issued its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.60). Northeast Bancorp had a net margin of 22.84% and a return on equity of 17.46%. The firm had revenue of $52.57 million during the quarter, compared to analyst estimates of $50.09 million.

Northeast Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were paid a $0.01 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. Northeast Bancorp’s payout ratio is presently 0.44%.

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.