Shares of Northeast Bancorp (NASDAQ:NBN – Get Free Report) passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $128.86 and traded as high as $131.99. Northeast Bancorp shares last traded at $131.32, with a volume of 101,377 shares trading hands.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on NBN. Piper Sandler increased their price target on Northeast Bancorp from $145.00 to $151.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Keefe, Bruyette & Woods lifted their price objective on Northeast Bancorp from $128.00 to $136.00 and gave the company a “market perform” rating in a report on Tuesday, July 28th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Northeast Bancorp in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $143.50.
View Our Latest Report on Northeast Bancorp
Northeast Bancorp Price Performance
The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 10.32 and a beta of 0.60. The company has a quick ratio of 1.32, a current ratio of 1.35 and a debt-to-equity ratio of 1.42. The business’s 50 day simple moving average is $128.86 and its 200-day simple moving average is $123.13.
Northeast Bancorp (NASDAQ:NBN – Get Free Report) last released its earnings results on Monday, October 26th. The financial services provider reported $3.42 EPS for the quarter, beating the consensus estimate of $3.41 by $0.01. Northeast Bancorp had a net margin of 27.91% and a return on equity of 19.35%. The firm had revenue of $64.27 million for the quarter, compared to analyst estimates of $66.77 million.
Northeast Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Monday, November 9th 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 0.0%. The ex-dividend date of this dividend is Monday, November 9th. Northeast Bancorp’s dividend payout ratio is 0.31%.
Institutional Trading of Northeast Bancorp
Several large investors have recently made changes to their positions in NBN. GAMMA Investing LLC increased its stake in Northeast Bancorp by 105.6% in the second quarter. GAMMA Investing LLC now owns 185 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 95 shares during the last quarter. OP Asset Management Ltd acquired a new position in Northeast Bancorp during the first quarter valued at approximately $33,000. Fortitude Family Office LLC raised its position in Northeast Bancorp by 368.1% during the third quarter. Fortitude Family Office LLC now owns 323 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 254 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Northeast Bancorp during the second quarter worth $72,000. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Northeast Bancorp by 160.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 743 shares of the financial services provider’s stock valued at $92,000 after purchasing an additional 458 shares in the last quarter.
Northeast Bancorp Company Profile
Northeast Bancorp is the bank holding company for Northeast Bank, a community-focused financial institution headquartered in Lewiston, Maine. Founded in 1872, Northeast Bank provides banking and lending services to individuals, families, businesses and nonprofit organizations.
The bank offers deposit products such as checking, savings and money market accounts, certificates of deposit and business deposit services. Its lending activities include commercial real estate, commercial and industrial, residential real estate, consumer and municipal loans, as well as construction and other business financing.
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