Northeast Bancorp (NASDAQ:NBN) Releases Earnings Results, Beats Expectations By $0.65 EPS

Northeast Bancorp (NASDAQ:NBN) released its quarterly earnings results on Monday. The financial services provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.40 by $0.65, Zacks reports. Northeast Bancorp had a net margin of 25.96% and a return on equity of 18.63%.

Northeast Bancorp Stock Performance

NASDAQ:NBN opened at $137.82 on Monday. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 11.81 and a beta of 0.58. Northeast Bancorp has a fifty-two week low of $80.75 and a fifty-two week high of $142.31. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.10 and a current ratio of 1.13. The stock has a fifty day moving average price of $127.63 and a 200-day moving average price of $120.30.

Analysts Set New Price Targets

Several analysts have weighed in on NBN shares. Wall Street Zen cut shares of Northeast Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. Keefe, Bruyette & Woods raised their target price on shares of Northeast Bancorp from $120.00 to $128.00 and gave the stock a “market perform” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northeast Bancorp in a report on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $130.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NBN. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Northeast Bancorp by 237.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 125,851 shares of the financial services provider’s stock worth $12,605,000 after buying an additional 88,592 shares during the last quarter. Ameriprise Financial Inc. grew its position in Northeast Bancorp by 247.9% in the third quarter. Ameriprise Financial Inc. now owns 25,590 shares of the financial services provider’s stock valued at $2,563,000 after acquiring an additional 18,235 shares during the last quarter. Bank of America Corp DE grew its position in Northeast Bancorp by 128.7% in the third quarter. Bank of America Corp DE now owns 30,807 shares of the financial services provider’s stock valued at $3,086,000 after acquiring an additional 17,339 shares during the last quarter. Boothbay Fund Management LLC acquired a new position in Northeast Bancorp during the second quarter worth about $1,411,000. Finally, Invesco Ltd. raised its stake in Northeast Bancorp by 22.2% during the third quarter. Invesco Ltd. now owns 77,833 shares of the financial services provider’s stock worth $7,796,000 after acquiring an additional 14,127 shares in the last quarter.

About Northeast Bancorp

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.