Northeast Bancorp (NASDAQ:NBN) Posts Earnings Results, Beats Estimates By $0.09 EPS

Northeast Bancorp (NASDAQ:NBN) announced its quarterly earnings data on Monday. The financial services provider reported $2.47 EPS for the quarter, beating the consensus estimate of $2.38 by $0.09, Zacks reports. Northeast Bancorp had a net margin of 24.36% and a return on equity of 18.52%.

Northeast Bancorp Price Performance

Northeast Bancorp stock traded up $0.12 during mid-day trading on Monday, hitting $114.25. 86,748 shares of the company were exchanged, compared to its average volume of 118,215. Northeast Bancorp has a 12-month low of $78.17 and a 12-month high of $121.47. The company has a market capitalization of $937.99 million, a P/E ratio of 10.74 and a beta of 0.54. The business’s 50 day simple moving average is $100.90 and its two-hundred day simple moving average is $99.53. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.25 and a quick ratio of 1.25.

Northeast Bancorp Announces Dividend

The business 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 of this dividend was Monday, November 10th. This represents a $0.04 annualized dividend and a yield of 0.0%. Northeast Bancorp’s dividend payout ratio (DPR) is presently 0.38%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NBN. Quantbot Technologies LP lifted its holdings in Northeast Bancorp by 110.9% in the 2nd quarter. Quantbot Technologies LP now owns 2,255 shares of the financial services provider’s stock valued at $201,000 after purchasing an additional 1,186 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Northeast Bancorp during the second quarter worth about $202,000. Integrated Investment Consultants LLC acquired a new position in shares of Northeast Bancorp in the third quarter valued at approximately $211,000. Thrivent Financial for Lutherans purchased a new position in shares of Northeast Bancorp during the second quarter valued at approximately $227,000. Finally, The Manufacturers Life Insurance Company boosted its position in Northeast Bancorp by 12.8% during the second quarter. The Manufacturers Life Insurance Company now owns 2,680 shares of the financial services provider’s stock worth $238,000 after acquiring an additional 304 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

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.