Northeast Bancorp (NASDAQ:NBN) Sees Unusually-High Trading Volume – Should You Buy?

Northeast Bancorp (NASDAQ:NBN) shares saw unusually-high trading volume on Wednesday . Approximately 57,393 shares changed hands during trading, a decline of 48% from the previous session’s volume of 111,382 shares.The stock last traded at $119.4170 and had previously closed at $117.57.

Analyst Upgrades and Downgrades

NBN has been the topic of a number of research reports. Wall Street Zen raised Northeast Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday. Keefe, Bruyette & Woods raised their price target on shares of Northeast Bancorp from $120.00 to $128.00 and gave the company a “market perform” rating in a research report on Wednesday, April 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northeast Bancorp in a research report on Monday, May 4th. Finally, Piper Sandler assumed coverage on shares of Northeast Bancorp in a research report on Monday, March 16th. They issued an “overweight” rating and a $133.00 price target on the stock. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.50.

Northeast Bancorp Stock Performance

The company’s 50-day simple moving average is $117.27 and its 200 day simple moving average is $108.70. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.03. The stock has a market cap of $990.99 million, a P/E ratio of 10.34 and a beta of 0.59.

Northeast Bancorp (NASDAQ:NBN) last posted its earnings results on Monday, April 27th. The financial services provider reported $3.53 EPS for the quarter, topping the consensus estimate of $3.00 by $0.53. The firm had revenue of $66.62 million for the quarter, compared to analysts’ expectations of $61.49 million. Northeast Bancorp had a net margin of 25.96% and a return on equity of 18.63%.

Northeast Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, May 12th. This represents a $0.04 annualized dividend and a yield of 0.0%. Northeast Bancorp’s dividend payout ratio is 0.34%.

Hedge Funds Weigh In On Northeast Bancorp

Large investors have recently modified their holdings of the business. State of Alaska Department of Revenue purchased a new position in shares of Northeast Bancorp in the third quarter worth about $31,000. OP Asset Management Ltd purchased a new position in shares of Northeast Bancorp in the first quarter worth about $33,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Northeast Bancorp by 36,700.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 368 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 367 shares during the period. Clearstead Advisors LLC raised its stake in shares of Northeast Bancorp by 194.0% during the 4th quarter. Clearstead Advisors LLC now owns 741 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 489 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in shares of Northeast Bancorp by 1,071.4% during the 4th quarter. Quadrant Capital Group LLC now owns 820 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 750 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.