Northeast Bancorp (NASDAQ:NBN) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Northeast Bancorp (NASDAQ:NBN) announced its quarterly earnings results on Monday. The financial services provider reported $3.42 earnings per share for the quarter, beating the consensus estimate of $3.41 by $0.01, Zacks reports. Northeast Bancorp had a return on equity of 19.35% and a net margin of 27.91%.

Northeast Bancorp Trading Up 2.0%

Northeast Bancorp stock traded up $2.58 during mid-day trading on Monday, reaching $131.32. 101,335 shares of the company traded hands, compared to its average volume of 119,305. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.35 and a quick ratio of 1.32. The firm’s 50 day moving average price is $128.82 and its 200 day moving average price is $127.52. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 10.32 and a beta of 0.60. Northeast Bancorp has a 52-week low of $80.75 and a 52-week high of $142.31.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Northeast Bancorp in a report on Friday, July 31st. Keefe, Bruyette & Woods raised their target price on shares of Northeast Bancorp from $128.00 to $136.00 and gave the company a “market perform” rating in a research note on Tuesday, July 28th. Finally, Piper Sandler lifted their target price on shares of Northeast Bancorp from $145.00 to $151.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.50.

Northeast Bancorp Company Profile

Northeast Bancorp is the bank holding company for Northeast Bank, a community-focused financial institution headquartered in Lewiston, Maine. Founded in 1872, Northeast Bank provides banking and lending services to individuals, families, businesses and nonprofit organizations.

The bank offers deposit products such as checking, savings and money market accounts, certificates of deposit and business deposit services. Its lending activities include commercial real estate, commercial and industrial, residential real estate, consumer and municipal loans, as well as construction and other business financing.