Northeast Bancorp (NASDAQ:NBN) Stock Price Breaks Above 200 Day Moving Average – Here’s Why

Northeast Bancorp (NASDAQ:NBN)’s stock price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $126.41 and traded as high as $126.90. Northeast Bancorp shares last traded at $125.99, with a volume of 59,849 shares.

Wall Street Analyst Weigh In

NBN has been the topic of a number of recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Northeast Bancorp in a research note on Friday, July 31st. Piper Sandler upped their target price on Northeast Bancorp from $145.00 to $151.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Finally, Keefe, Bruyette & Woods upped 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 research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $143.50.

Northeast Bancorp Price Performance

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 stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 9.90 and a beta of 0.60. The business’s 50 day simple moving average is $130.39 and its 200-day simple moving average is $126.41.

Northeast Bancorp (NASDAQ:NBN) last issued its earnings results on Monday, July 27th. The financial services provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.40 by $0.65. Northeast Bancorp had a net margin of 27.91% and a return on equity of 19.35%. The company had revenue of $65.24 million during the quarter, compared to analysts’ expectations of $67.21 million.

Northeast Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were given a dividend of $0.01 per share. The ex-dividend date was Monday, August 10th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Northeast Bancorp’s dividend payout ratio (DPR) is currently 0.31%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Northeast Bancorp by 105.6% during the second quarter. GAMMA Investing LLC now owns 185 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 95 shares during the last quarter. Arcus Capital Partners LLC boosted its holdings in shares of Northeast Bancorp by 2.1% in the 1st quarter. Arcus Capital Partners LLC now owns 4,868 shares of the financial services provider’s stock valued at $547,000 after purchasing an additional 99 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Northeast Bancorp by 8.0% in the 1st quarter. Cetera Investment Advisers now owns 2,475 shares of the financial services provider’s stock valued at $278,000 after purchasing an additional 184 shares during the last quarter. OP Asset Management Ltd bought a new position in shares of Northeast Bancorp in the 1st quarter valued at $33,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Northeast Bancorp by 36,700.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 368 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 367 shares during the last quarter.

Northeast Bancorp Company Profile

Northeast Bancorp is the bank holding company for Northeast Bank, a full-service financial institution headquartered in Lewiston, Maine. The bank provides deposit accounts, commercial and consumer loans, residential real estate lending, cash management, online banking and other financial services to individuals, families and businesses.

Northeast Bank operates through two primary business areas. Its Community Banking division serves customers in Maine through a network of branches and other delivery channels, while its national SBA Lending division provides financing to small businesses across the United States, including loans guaranteed through the U.S.