Northeast Bancorp (NASDAQ:NBN) Reaches New 12-Month High – What’s Next?

Shares of Northeast Bancorp (NASDAQ:NBN) hit a new 52-week high on Tuesday . The stock traded as high as $122.79 and last traded at $120.91, with a volume of 22554 shares traded. The stock had previously closed at $119.14.

Analysts Set New Price Targets

A number of research firms have recently commented on NBN. Keefe, Bruyette & Woods dropped their target price on shares of Northeast Bancorp from $107.00 to $102.00 and set a “market perform” rating for the company in a report on Thursday, October 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northeast Bancorp in a research report on Monday, December 29th. Finally, Wall Street Zen lowered shares of Northeast Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Northeast Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $102.00.

Northeast Bancorp Trading Up 1.2%

The company has a market cap of $990.08 million, a P/E ratio of 11.63 and a beta of 0.57. The firm’s 50 day moving average is $104.75 and its two-hundred day moving average is $100.32. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.65.

Northeast Bancorp (NASDAQ:NBN) last released its quarterly earnings results on Monday, January 26th. The financial services provider reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.09. The firm had revenue of $51.77 million for the quarter, compared to analyst estimates of $54.83 million. Northeast Bancorp had a return on equity of 17.73% and a net margin of 24.16%.

Northeast Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, February 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Northeast Bancorp’s dividend payout ratio is 0.39%.

Institutional Trading of Northeast Bancorp

A number of institutional investors have recently bought and sold shares of NBN. SG Americas Securities LLC boosted its stake in Northeast Bancorp by 1,189.2% during the third quarter. SG Americas Securities LLC now owns 17,481 shares of the financial services provider’s stock worth $1,751,000 after acquiring an additional 16,125 shares in the last quarter. Boston Partners boosted its stake in Northeast Bancorp by 1.5% during the 2nd quarter. Boston Partners now owns 270,682 shares of the financial services provider’s stock valued at $24,417,000 after purchasing an additional 4,018 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Northeast Bancorp by 8.6% in the second quarter. Geode Capital Management LLC now owns 179,131 shares of the financial services provider’s stock valued at $15,942,000 after purchasing an additional 14,118 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Northeast Bancorp by 19.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,799 shares of the financial services provider’s stock valued at $1,139,000 after buying an additional 2,050 shares during the last quarter. Finally, KLP Kapitalforvaltning AS boosted its holdings in Northeast Bancorp by 30.8% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 5,100 shares of the financial services provider’s stock worth $454,000 after acquiring an additional 1,200 shares during the last quarter.

About Northeast Bancorp

Northeast Bancorp is a Maine-based bank holding company and the parent of Northeast Bank, a state‐chartered commercial bank headquartered in Lewiston, Maine. Through its subsidiary, the company provides a variety of financial services, including personal checking and savings accounts, residential mortgage lending, small business and commercial loans, treasury management and private banking services. The bank operates a branch network spanning central and southern Maine, serving individuals, families and local businesses across the region.

Founded in 1872 as Androscoggin County Savings Bank, the institution has evolved through mutual and stock conversions, adopting the Northeast Bank name in 2001 and forming Northeast Bancorp as its mutual holding company in 2013.