Keefe, Bruyette & Woods Cuts Northeast Bancorp (NASDAQ:NBN) Price Target to $102.00

Northeast Bancorp (NASDAQ:NBN) had its price objective trimmed by Keefe, Bruyette & Woods from $107.00 to $102.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a market perform rating on the financial services provider’s stock.

A number of other analysts also recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northeast Bancorp in a research report on Tuesday, October 14th. Wall Street Zen downgraded shares of Northeast Bancorp from a “buy” rating to a “hold” rating in a research 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $102.00.

Northeast Bancorp Stock Up 0.3%

NASDAQ:NBN opened at $86.28 on Thursday. The firm’s 50-day moving average price is $101.78 and its 200-day moving average price is $94.41. The company has a market capitalization of $708.01 million, a PE ratio of 8.11 and a beta of 0.60. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.24 and a quick ratio of 1.23. Northeast Bancorp has a 1-year low of $78.17 and a 1-year high of $113.01.

Northeast Bancorp (NASDAQ:NBN) last released its earnings results on Tuesday, October 28th. The financial services provider reported $2.67 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.01). The business had revenue of $52.88 million during the quarter, compared to analysts’ expectations of $57.43 million. Northeast Bancorp had a return on equity of 18.97% and a net margin of 24.36%.

Northeast Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, November 11th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend is Monday, November 10th. Northeast Bancorp’s dividend payout ratio is 0.38%.

Institutional Trading of Northeast Bancorp

Institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue purchased a new stake in Northeast Bancorp during the 3rd quarter valued at about $31,000. CWM LLC lifted its stake in Northeast Bancorp by 136.8% during the 1st 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 period. Police & Firemen s Retirement System of New Jersey lifted 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 valued at $153,000 after acquiring an additional 279 shares during the period. Quantbot Technologies LP lifted 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 valued at $201,000 after acquiring an additional 1,186 shares during the period. Finally, EP Wealth Advisors LLC bought a new position in Northeast Bancorp during the 2nd quarter valued at about $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.