Northeast Bancorp (NASDAQ:NBN) Sets New 1-Year High – Here’s Why

Shares of Northeast Bancorp (NASDAQ:NBN) reached a new 52-week high during trading on Monday . The stock traded as high as $142.31 and last traded at $132.2450, with a volume of 40326 shares traded. The stock had previously closed at $129.92.

Wall Street Analyst Weigh In

NBN has been the topic of several recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Northeast Bancorp in a research report on Monday, May 4th. Wall Street Zen downgraded Northeast Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, May 24th. Keefe, Bruyette & Woods upped their price target on shares of Northeast Bancorp from $120.00 to $128.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 29th. Finally, Piper Sandler initiated coverage on shares of Northeast Bancorp in a research report on Monday, March 16th. They set an “overweight” rating and a $133.00 price target for the company. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Northeast Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $130.50.

Northeast Bancorp Stock Down 0.8%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.10 and a current ratio of 1.13. The firm has a fifty day simple moving average of $122.52 and a 200-day simple moving average of $113.64. The company has a market capitalization of $1.06 billion, a PE ratio of 11.03 and a beta of 0.58.

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

Northeast Bancorp Announces Dividend

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

Institutional Trading of Northeast Bancorp

A number of hedge funds have recently modified their holdings of the company. Arcus Capital Partners LLC lifted its position in shares of Northeast Bancorp by 2.1% in the 1st quarter. Arcus Capital Partners LLC now owns 4,868 shares of the financial services provider’s stock worth $547,000 after acquiring an additional 99 shares during the period. Quantbot Technologies LP lifted its position in shares of Northeast Bancorp by 6.3% during the 3rd quarter. Quantbot Technologies LP now owns 2,397 shares of the financial services provider’s stock worth $240,000 after buying an additional 142 shares during the period. Jump Financial LLC raised its position in Northeast Bancorp by 5.2% in the 2nd quarter. Jump Financial LLC now owns 3,129 shares of the financial services provider’s stock valued at $278,000 after purchasing an additional 154 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Northeast Bancorp by 4.4% in 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 last quarter. Finally, Alps Advisors Inc. raised its position in Northeast Bancorp by 4.4% in the 3rd quarter. Alps Advisors Inc. now owns 4,134 shares of the financial services provider’s stock valued at $414,000 after purchasing an additional 176 shares during the last quarter.

Northeast Bancorp Company Profile

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.