Northeast Bancorp (NASDAQ:NBN – Get Free Report)’s stock price passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $128.54 and traded as low as $127.62. Northeast Bancorp shares last traded at $128.04, with a volume of 88,495 shares changing hands.
Wall Street Analyst Weigh In
NBN has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Northeast Bancorp in a research report on Thursday, October 29th. Piper Sandler raised their price objective on shares of Northeast Bancorp from $145.00 to $151.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Finally, Keefe, Bruyette & Woods boosted their target price on Northeast Bancorp from $128.00 to $136.00 and gave the company a “market perform” rating in a research report on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $143.50.
Check Out Our Latest Stock Analysis on Northeast Bancorp
Northeast Bancorp Stock Down 1.7%
The company has a 50-day simple moving average of $128.54 and a 200 day simple moving average of $123.84. The company has a market cap of $1.05 billion, a P/E ratio of 9.51 and a beta of 0.64. The company has a current ratio of 1.35, a quick ratio of 1.32 and a debt-to-equity ratio of 1.42.
Northeast Bancorp (NASDAQ:NBN – Get Free Report) last released its earnings results on Monday, October 26th. The financial services provider reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.01. Northeast Bancorp had a return on equity of 20.02% and a net margin of 28.34%. The business had revenue of $64.27 million for the quarter, compared to analyst estimates of $66.77 million.
Northeast Bancorp Dividend Announcement
The business 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 $0.01 dividend. The ex-dividend date is Monday, November 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Northeast Bancorp’s dividend payout ratio is presently 0.30%.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in NBN. Sterling Capital Management LLC lifted its holdings in Northeast Bancorp by 6.4% during the 3rd quarter. Sterling Capital Management LLC now owns 2,346 shares of the financial services provider’s stock valued at $290,000 after buying an additional 142 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in 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 buying an additional 458 shares during the period. Hingham Institution for Savings boosted its position in Northeast Bancorp by 75.0% in the 3rd quarter. Hingham Institution for Savings now owns 21,000 shares of the financial services provider’s stock valued at $2,597,000 after buying an additional 9,000 shares during the period. Fortitude Family Office LLC grew its stake in Northeast Bancorp by 368.1% in the 3rd quarter. Fortitude Family Office LLC now owns 323 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 254 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new position in Northeast Bancorp in the 2nd quarter worth about $1,109,000.
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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