Northeast Bancorp (NASDAQ:NBN) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Northeast Bancorp (NASDAQ:NBN) from a buy rating to a hold rating in a research note released on Saturday.

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Northeast Bancorp in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Northeast Bancorp has a consensus rating of “Moderate Buy” and an average price target of $115.00.

Northeast Bancorp Price Performance

Shares of Northeast Bancorp stock opened at $95.86 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 0.69. Northeast Bancorp has a twelve month low of $78.17 and a twelve month high of $113.01. The business has a 50-day moving average price of $102.86 and a 200 day moving average price of $94.25. The firm has a market cap of $787.01 million, a PE ratio of 9.51 and a beta of 0.60.

Northeast Bancorp (NASDAQ:NBN) last announced its quarterly earnings results on Monday, July 28th. The financial services provider reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.46. Northeast Bancorp had a return on equity of 18.56% and a net margin of 23.77%.The firm had revenue of $62.70 million during the quarter, compared to analyst estimates of $56.50 million.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NBN. Allspring Global Investments Holdings LLC acquired a new position in Northeast Bancorp in the first quarter valued at approximately $220,000. Alps Advisors Inc. acquired a new position in Northeast Bancorp in the first quarter valued at approximately $358,000. CWM LLC lifted its holdings in Northeast Bancorp by 136.8% in the first quarter. CWM LLC now owns 438 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 253 shares during the last quarter. GW&K Investment Management LLC lifted its holdings in Northeast Bancorp by 31.7% in the first quarter. GW&K Investment Management LLC now owns 166,672 shares of the financial services provider’s stock valued at $15,257,000 after acquiring an additional 40,145 shares during the last quarter. Finally, KLP Kapitalforvaltning AS lifted its holdings in Northeast Bancorp by 178.6% in the first quarter. KLP Kapitalforvaltning AS now owns 3,900 shares of the financial services provider’s stock valued at $357,000 after acquiring an additional 2,500 shares during the last quarter.

About Northeast Bancorp

Northeast Bank provides banking services to individual and corporate customers in Maine. The company's deposit products include demand deposit, NOW, money market, savings, certificate of deposit, and individual retirement accounts, as well as checking accounts. Its loan portfolio comprises residential mortgage loans; multi-family and other commercial real estate loans; commercial and industrial loans, such as term loans, lines of credit and equipment, and receivables financing; consumer loans comprising mobile home and overdraft, and deposit-secured loans; and small business administration loans.