Northeast Bancorp (NASDAQ:NBN) Reaches New 1-Year High – Time to Buy?

Shares of Northeast Bancorp (NASDAQ:NBN) reached a new 52-week high during trading on Thursday . The stock traded as high as $114.00 and last traded at $113.4740, with a volume of 17094 shares changing hands. The stock had previously closed at $112.02.

Wall Street Analysts Forecast Growth

NBN has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Northeast Bancorp in a research report on Monday, December 29th. Keefe, Bruyette & Woods lowered their price target on shares of Northeast Bancorp from $107.00 to $102.00 and set a “market perform” rating for the company in a report on Thursday, October 30th. Finally, Wall Street Zen cut shares of Northeast Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $102.00.

Northeast Bancorp Price Performance

The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.65. The company’s fifty day moving average is $97.82 and its 200 day moving average is $98.74. The stock has a market cap of $937.50 million, a PE ratio of 10.73 and a beta of 0.54.

Northeast Bancorp (NASDAQ:NBN) last released 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). The business had revenue of $52.88 million during the quarter, compared to analyst estimates of $57.43 million. Northeast Bancorp had a return on equity of 18.52% and a net margin of 24.36%.

Northeast Bancorp Dividend Announcement

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

Institutional Investors Weigh In On Northeast Bancorp

A number of large investors have recently modified their holdings of NBN. Earnest Partners LLC acquired a new position in Northeast Bancorp during the 3rd quarter worth approximately $67,225,000. Boston Partners raised its stake in shares of Northeast Bancorp by 0.4% during the third quarter. Boston Partners now owns 271,711 shares of the financial services provider’s stock valued at $27,018,000 after purchasing an additional 1,029 shares during the period. American Century Companies Inc. raised its stake in shares of Northeast Bancorp by 8.5% during the third quarter. American Century Companies Inc. now owns 220,712 shares of the financial services provider’s stock valued at $22,107,000 after purchasing an additional 17,344 shares during the period. Kennedy Capital Management LLC lifted its position in shares of Northeast Bancorp by 13.5% during the third quarter. Kennedy Capital Management LLC now owns 204,112 shares of the financial services provider’s stock worth $20,444,000 after purchasing an additional 24,327 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Northeast Bancorp by 8.6% in the second quarter. Geode Capital Management LLC now owns 179,131 shares of the financial services provider’s stock valued at $15,942,000 after purchasing an additional 14,118 shares during the period.

Northeast Bancorp Company Profile

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.