Northeast Bancorp (NASDAQ:NBN) Sees Large Volume Increase – Time to Buy?

Northeast Bancorp (NASDAQ:NBN) shares saw an uptick in trading volume on Tuesday . 76,597 shares changed hands during trading, an increase of 10% from the previous session’s volume of 69,721 shares.The stock last traded at $103.4760 and had previously closed at $105.90.

Wall Street Analyst Weigh In

NBN has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Northeast Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Northeast Bancorp in a research report on Monday, December 22nd. Finally, Keefe, Bruyette & Woods decreased their price objective on Northeast Bancorp from $107.00 to $102.00 and set a “market perform” rating on the stock in a report on Thursday, October 30th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Northeast Bancorp has an average rating of “Moderate Buy” and an average target price of $102.00.

Northeast Bancorp Stock Down 2.0%

The business has a 50 day simple moving average of $92.82 and a 200 day simple moving average of $96.62. The company has a market capitalization of $852.28 million, a price-to-earnings ratio of 9.76 and a beta of 0.55. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.25 and a quick ratio of 1.25.

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

Northeast Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th were 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 was Monday, November 10th. Northeast Bancorp’s dividend payout ratio (DPR) is currently 0.38%.

Institutional Trading of Northeast Bancorp

A number of large investors have recently modified their holdings of NBN. State of Alaska Department of Revenue purchased a new position in Northeast Bancorp in the third quarter worth approximately $31,000. PNC Financial Services Group Inc. purchased a new position in shares of Northeast Bancorp in the 3rd quarter valued at $89,000. Police & Firemen s Retirement System of New Jersey raised its stake in Northeast Bancorp by 19.4% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 1,717 shares of the financial services provider’s stock worth $153,000 after acquiring an additional 279 shares in the last quarter. Integrated Investment Consultants LLC purchased a new stake in Northeast Bancorp in the third quarter valued at $211,000. Finally, Longboard Asset Management LP purchased a new stake in Northeast Bancorp in the third quarter valued at $217,000.

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.