Northeast Bancorp (NASDAQ:NBN) Short Interest Update

Northeast Bancorp (NASDAQ:NBN) saw a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 433,815 shares, an increase of 25.0% from the February 26th total of 346,952 shares. Approximately 6.2% of the shares of the company are sold short. Based on an average daily volume of 114,049 shares, the days-to-cover ratio is presently 3.8 days.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northeast Bancorp in a report on Monday, December 29th. Piper Sandler started coverage on Northeast Bancorp in a research report on Monday, March 16th. They issued an “overweight” rating and a $133.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $117.50.

Northeast Bancorp Stock Performance

Shares of NBN traded up $2.38 during trading hours on Tuesday, hitting $112.37. The company had a trading volume of 165,183 shares, compared to its average volume of 126,499. The business has a fifty day moving average of $114.00 and a 200-day moving average of $103.40. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.97. The firm has a market cap of $922.56 million, a price-to-earnings ratio of 10.84 and a beta of 0.58. Northeast Bancorp has a 12 month low of $78.17 and a 12 month high of $126.25.

Northeast Bancorp (NASDAQ:NBN) last announced its quarterly earnings results on Monday, January 26th. The financial services provider reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.09. The business had revenue of $51.77 million for the quarter, compared to analyst estimates of $54.83 million. Northeast Bancorp had a net margin of 24.16% and a return on equity of 17.34%.

Northeast Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were paid a dividend of $0.01 per share. The ex-dividend date was Wednesday, February 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Northeast Bancorp’s dividend payout ratio (DPR) is 0.39%.

Institutional Trading of Northeast Bancorp

Institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. bought a new position in Northeast Bancorp during the 3rd quarter worth $4,077,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Northeast Bancorp in the third quarter valued at about $1,131,000. SG Americas Securities LLC grew its stake in shares of Northeast Bancorp by 1,189.2% in the third quarter. SG Americas Securities LLC now owns 17,481 shares of the financial services provider’s stock valued at $1,751,000 after acquiring an additional 16,125 shares in the last quarter. Kennedy Capital Management LLC grew its stake in shares of Northeast Bancorp by 13.5% in the third quarter. Kennedy Capital Management LLC now owns 204,112 shares of the financial services provider’s stock valued at $20,444,000 after acquiring an additional 24,327 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Northeast Bancorp by 8.6% during the second quarter. Geode Capital Management LLC now owns 179,131 shares of the financial services provider’s stock worth $15,942,000 after acquiring an additional 14,118 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.