Northeast Bancorp (NASDAQ:NBN) Stock Price Breaks Below 50 Day Moving Average – What’s Next?

Northeast Bancorp (NASDAQ:NBN) crossed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $128.74 and traded as low as $127.17. Northeast Bancorp shares last traded at $128.32, with a volume of 116,182 shares trading hands.

Analysts Set New Price Targets

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 Thursday, October 29th. Piper Sandler upped their price objective on Northeast Bancorp from $145.00 to $151.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Northeast Bancorp from $128.00 to $136.00 and gave the company a “market perform” rating in a report on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $143.50.

Northeast Bancorp Stock Down 3.6%

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 business has a 50-day simple moving average of $128.74 and a 200-day simple moving average of $124.25. The company has a market cap of $1.05 billion, a PE ratio of 9.53 and a beta of 0.64.

Northeast Bancorp (NASDAQ:NBN) last announced its earnings results on Monday, October 26th. The financial services provider reported $3.42 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.01. The business had revenue of $64.27 million during the quarter, compared to the consensus estimate of $66.77 million. Northeast Bancorp had a return on equity of 20.02% and a net margin of 28.34%.

Northeast Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Monday, November 9th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, November 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Northeast Bancorp’s payout ratio is currently 0.30%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in Northeast Bancorp by 105.6% during the 2nd quarter. GAMMA Investing LLC now owns 185 shares of the financial services provider’s stock worth $25,000 after buying an additional 95 shares in the last quarter. Fortitude Family Office LLC lifted its position in shares of Northeast Bancorp by 368.1% in the third quarter. Fortitude Family Office LLC now owns 323 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 254 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Northeast Bancorp in the second quarter valued at approximately $72,000. Nisa Investment Advisors LLC boosted its stake in shares of Northeast Bancorp by 160.7% in the third quarter. Nisa Investment Advisors LLC now owns 743 shares of the financial services provider’s stock worth $92,000 after acquiring an additional 458 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Northeast Bancorp by 303.5% in the first quarter. Royal Bank of Canada now owns 1,251 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 941 shares during the last quarter.

About Northeast Bancorp

Northeast Bancorp is a bank holding company headquartered in Lewiston, Maine. Through its subsidiary, Northeast Bank, it provides banking services to businesses and individuals, including deposit accounts, commercial and consumer loans, residential mortgage lending, and cash management services. The bank serves customers through branches in Maine and also operates a commercial lending business that works with borrowers beyond the state. Its lending activities include financing for businesses and commercial real estate, while its banking services include digital and online banking options.