Northeast Bancorp (NASDAQ:NBN) Trading Up 9.5% – Still a Buy?

Northeast Bancorp (NASDAQ:NBN) shares were up 9.5% during trading on Thursday . The company traded as high as $109.34 and last traded at $110.3360. Approximately 87,297 shares changed hands during mid-day trading, an increase of 27% from the average daily volume of 68,928 shares. The stock had previously closed at $100.72.

Wall Street Analysts Forecast Growth

NBN has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods cut their target price on Northeast Bancorp from $107.00 to $102.00 and set a “market perform” rating on the stock in a research report on Thursday, October 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of Northeast Bancorp in a research report on Monday. Finally, Wall Street Zen lowered Northeast Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Northeast Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $102.00.

Northeast Bancorp Trading Up 8.6%

The business’s 50 day moving average price is $90.52 and its 200-day moving average price is $95.18. The firm has a market cap of $898.26 million, a price-to-earnings ratio of 10.28 and a beta of 0.55. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.25 and a current ratio of 1.25.

Northeast Bancorp (NASDAQ:NBN) last posted its earnings results on Tuesday, October 28th. The financial services provider reported $2.67 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.01). The company had revenue of $52.88 million for the quarter, compared to the consensus estimate of $57.43 million. Northeast Bancorp had a net margin of 24.36% and a return on equity of 18.52%.

Northeast Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Northeast Bancorp’s dividend payout ratio is 0.38%.

Institutional Trading of Northeast Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of NBN. State of Alaska Department of Revenue acquired a new stake in Northeast Bancorp during the third quarter valued at approximately $31,000. PNC Financial Services Group Inc. acquired a new stake in shares of Northeast Bancorp during the third quarter worth $89,000. Police & Firemen s Retirement System of New Jersey increased its stake in Northeast Bancorp by 19.4% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 1,717 shares of the financial services provider’s stock valued at $153,000 after purchasing an additional 279 shares in the last quarter. Quantbot Technologies LP raised its stake in Northeast Bancorp by 110.9% during the 2nd quarter. Quantbot Technologies LP now owns 2,255 shares of the financial services provider’s stock worth $201,000 after buying an additional 1,186 shares during the period. Finally, EP Wealth Advisors LLC acquired a new position in shares of Northeast Bancorp in the second quarter valued at approximately $202,000.

Northeast Bancorp Company Profile

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.