Northeast Bancorp (NASDAQ:NBN) Sees Large Volume Increase – Here’s Why

Northeast Bancorp (NASDAQ:NBN) saw unusually-strong trading volume on Tuesday . Approximately 76,597 shares changed hands during mid-day trading, an increase of 10% from the previous session’s volume of 69,721 shares.The stock last traded at $103.4760 and had previously closed at $105.90.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. 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 report on Thursday, October 30th. Wall Street Zen downgraded shares of Northeast Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Northeast Bancorp in a report on Monday. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $102.00.

Northeast Bancorp Trading Down 1.0%

The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.65. The company has a market cap of $853.27 million, a price-to-earnings ratio of 9.77 and a beta of 0.55. The firm has a 50-day moving average price of $93.22 and a 200 day moving average price of $96.82.

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

Northeast Bancorp Dividend Announcement

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

Institutional Investors Weigh In On Northeast Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of NBN. Quantbot Technologies LP boosted its stake in Northeast Bancorp by 6.3% in the third quarter. Quantbot Technologies LP now owns 2,397 shares of the financial services provider’s stock valued at $240,000 after acquiring an additional 142 shares during the period. Ellsworth Advisors LLC lifted its holdings in shares of Northeast Bancorp by 1.3% in the 1st quarter. Ellsworth Advisors LLC now owns 11,608 shares of the financial services provider’s stock worth $1,063,000 after purchasing an additional 144 shares during the last quarter. Jump Financial LLC lifted its holdings in shares of Northeast Bancorp by 5.2% in the 2nd quarter. Jump Financial LLC now owns 3,129 shares of the financial services provider’s stock worth $278,000 after purchasing an additional 154 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Northeast Bancorp by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,157 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 175 shares during the period. Finally, Alps Advisors Inc. grew its stake in Northeast Bancorp by 4.4% during the 3rd quarter. Alps Advisors Inc. now owns 4,134 shares of the financial services provider’s stock worth $414,000 after buying an additional 176 shares during 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.