Northeast Bancorp (NASDAQ:NBN) Reaches New 12-Month High – Still a Buy?

Northeast Bancorp (NASDAQ:NBN)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $114.00 and last traded at $113.4740, with a volume of 17094 shares traded. The stock had previously closed at $112.02.

Wall Street Analysts Forecast Growth

NBN has been the topic of several analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northeast Bancorp in a report on Monday, December 29th. Keefe, Bruyette & Woods reduced their price target on Northeast Bancorp from $107.00 to $102.00 and set a “market perform” rating on the stock in a research report on Thursday, October 30th. Finally, Wall Street Zen cut Northeast Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.00.

Northeast Bancorp Trading Up 3.1%

The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $948.01 million, a PE ratio of 10.88 and a beta of 0.54. The stock’s fifty day moving average price is $96.61 and its two-hundred day moving average price is $98.44.

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

Northeast Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, November 11th were issued a dividend of $0.01 per share. 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 is currently 0.38%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Earnest Partners LLC bought a new position in Northeast Bancorp in the 3rd quarter worth $67,225,000. Hotchkis & Wiley Capital Management LLC boosted its stake 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 valued at $12,605,000 after purchasing an additional 88,592 shares in the last quarter. CSM Advisors LLC purchased a new position in shares of Northeast Bancorp during the second quarter valued at about $6,344,000. Envestnet Asset Management Inc. bought a new position in Northeast Bancorp in the third quarter worth about $4,077,000. Finally, Kennedy Capital Management LLC lifted its holdings in Northeast Bancorp by 17.6% in the second quarter. Kennedy Capital Management LLC now owns 179,785 shares of the financial services provider’s stock worth $15,999,000 after buying an additional 26,862 shares during the period.

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.