Northeast Bancorp (NASDAQ:NBN) Price Target Raised to $136.00

Northeast Bancorp (NASDAQ:NBN) had its price target lifted by Keefe, Bruyette & Woods from $128.00 to $136.00 in a research note released on Tuesday,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

NBN has been the topic of several other reports. Wall Street Zen cut Northeast Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Northeast Bancorp in a research report on Monday, May 4th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.50.

Northeast Bancorp Price Performance

NBN stock opened at $122.90 on Tuesday. Northeast Bancorp has a 52 week low of $80.75 and a 52 week high of $142.31. The company has a quick ratio of 1.10, a current ratio of 1.13 and a debt-to-equity ratio of 0.03. The company has a fifty day simple moving average of $128.07 and a two-hundred day simple moving average of $120.78. The firm has a market capitalization of $1.01 billion, a P/E ratio of 9.66 and a beta of 0.58.

Northeast Bancorp (NASDAQ:NBN) last issued its quarterly earnings data on Monday, July 27th. The financial services provider reported $4.05 EPS for the quarter, topping analysts’ consensus estimates of $3.40 by $0.65. The business had revenue of $65.24 million during the quarter, compared to analysts’ expectations of $67.21 million. Northeast Bancorp had a net margin of 27.91% and a return on equity of 19.94%.

Northeast Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 10th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend is Monday, August 10th. Northeast Bancorp’s dividend payout ratio is 0.34%.

Institutional Trading of Northeast Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in shares of Northeast Bancorp by 105.6% in the 2nd quarter. GAMMA Investing LLC now owns 185 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 95 shares during the period. OP Asset Management Ltd purchased a new position in Northeast Bancorp during the first quarter valued at approximately $33,000. Caitong International Asset Management Co. Ltd raised its stake in Northeast Bancorp by 36,700.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 368 shares of the financial services provider’s stock worth $38,000 after buying an additional 367 shares in the last quarter. Clearstead Advisors LLC raised its stake in Northeast Bancorp by 194.0% in the fourth quarter. Clearstead Advisors LLC now owns 741 shares of the financial services provider’s stock worth $77,000 after buying an additional 489 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in Northeast Bancorp by 1,071.4% during the fourth quarter. Quadrant Capital Group LLC now owns 820 shares of the financial services provider’s stock worth $85,000 after buying 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.