Northeast Bancorp (NASDAQ:NBN) Reaches New 1-Year High – Here’s Why

Northeast Bancorp (NASDAQ:NBN) shares reached a new 52-week high on Thursday . The stock traded as high as $114.00 and last traded at $113.4740, with a volume of 17094 shares changing hands. The stock had previously closed at $112.02.

Analyst Upgrades and Downgrades

NBN has been the subject of a number of research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Northeast Bancorp in a research report on Monday, December 29th. Keefe, Bruyette & Woods dropped their price objective on Northeast Bancorp from $107.00 to $102.00 and set a “market perform” rating on the stock in a research note on Thursday, October 30th. Finally, Wall Street Zen lowered Northeast Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Northeast Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $102.00.

Northeast Bancorp Trading Up 3.1%

The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market cap of $948.01 million, a P/E ratio of 10.88 and a beta of 0.54. The firm has a 50 day simple moving average of $96.61 and a 200 day simple moving average of $98.44.

Northeast Bancorp (NASDAQ:NBN) last announced its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $2.67 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.01). Northeast Bancorp had a net margin of 24.36% and a return on equity of 18.52%. The firm had revenue of $52.88 million during the quarter, compared to the consensus estimate of $57.43 million.

Northeast Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th were given a dividend of $0.01 per share. The ex-dividend date was Monday, November 10th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Northeast Bancorp’s dividend payout ratio (DPR) is presently 0.38%.

Hedge Funds Weigh In On Northeast Bancorp

Several institutional investors have recently modified their holdings of NBN. State of Alaska Department of Revenue purchased a new position in shares of Northeast Bancorp during the 3rd quarter valued at about $31,000. PNC Financial Services Group Inc. bought a new position in Northeast Bancorp during the third quarter valued at approximately $89,000. Police & Firemen s Retirement System of New Jersey raised its stake in shares of Northeast Bancorp by 19.4% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 1,717 shares of the financial services provider’s stock worth $153,000 after acquiring an additional 279 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Northeast Bancorp by 110.9% during the second quarter. Quantbot Technologies LP now owns 2,255 shares of the financial services provider’s stock worth $201,000 after acquiring an additional 1,186 shares in the last quarter. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Northeast Bancorp in the 2nd quarter valued at $202,000.

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.