Wall Street Zen upgraded shares of Northeast Bancorp (NASDAQ:NBN – Free Report) from a hold rating to a buy rating in a research note published on Saturday.
A number of other brokerages have also recently weighed in on NBN. Piper Sandler assumed coverage on Northeast Bancorp in a research report on Monday, March 16th. They set an “overweight” rating and a $133.00 price target on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Northeast Bancorp in a research report on Monday, May 4th. Finally, Keefe, Bruyette & Woods increased their price target on Northeast Bancorp from $120.00 to $128.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.50.
Northeast Bancorp Trading Down 2.7%
Northeast Bancorp (NASDAQ:NBN – Get Free Report) last announced its quarterly earnings data on Monday, April 27th. The financial services provider reported $3.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.53. Northeast Bancorp had a return on equity of 18.63% and a net margin of 25.96%.The firm had revenue of $66.62 million for the quarter, compared to analysts’ expectations of $61.49 million.
Northeast Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th will be given 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 is Tuesday, May 12th. Northeast Bancorp’s dividend payout ratio is presently 0.34%.
Hedge Funds Weigh In On Northeast Bancorp
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Earnest Partners LLC bought a new position in Northeast Bancorp in the 3rd quarter worth approximately $67,225,000. Vanguard Group Inc. grew its holdings in Northeast Bancorp by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 434,490 shares of the financial services provider’s stock worth $45,157,000 after buying an additional 9,926 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Northeast Bancorp by 3.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 333,281 shares of the financial services provider’s stock worth $37,449,000 after buying an additional 11,168 shares in the last quarter. Boston Partners grew its holdings in Northeast Bancorp by 0.4% in the 3rd quarter. Boston Partners now owns 271,711 shares of the financial services provider’s stock worth $27,018,000 after buying an additional 1,029 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Northeast Bancorp by 8.5% in the 3rd quarter. American Century Companies Inc. now owns 220,712 shares of the financial services provider’s stock worth $22,107,000 after buying an additional 17,344 shares in the last quarter.
Northeast Bancorp Company Profile
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.
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