Northeast Bancorp (NASDAQ:NBN) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Northeast Bancorp (NASDAQ:NBN) saw unusually-high trading volume on Wednesday . Approximately 57,393 shares changed hands during trading, a decline of 48% from the previous session’s volume of 111,382 shares.The stock last traded at $119.4170 and had previously closed at $117.57.

Analyst Ratings Changes

NBN has been the topic of a number of analyst reports. Keefe, Bruyette & Woods boosted their price objective on Northeast Bancorp from $120.00 to $128.00 and gave the company a “market perform” rating in a research note on Wednesday, April 29th. Wall Street Zen upgraded shares of Northeast Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reiterated a “buy (b)” rating on shares of Northeast Bancorp in a research note on Monday, May 4th. Finally, Piper Sandler initiated coverage on shares of Northeast Bancorp in a research note on Monday, March 16th. They issued an “overweight” rating and a $133.00 target price on the stock. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $130.50.

Northeast Bancorp Trading Up 2.7%

The stock has a market cap of $990.99 million, a P/E ratio of 10.34 and a beta of 0.59. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.10 and a current ratio of 1.13. The stock has a 50-day moving average price of $117.27 and a 200-day moving average price of $108.70.

Northeast Bancorp (NASDAQ:NBN) last issued its quarterly earnings results on Monday, April 27th. The financial services provider reported $3.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.53. The firm had revenue of $66.62 million during the quarter, compared to the consensus estimate of $61.49 million. Northeast Bancorp had a return on equity of 18.63% and a net margin of 25.96%.

Northeast Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th will be given a $0.01 dividend. The ex-dividend date is Tuesday, May 12th. This represents a $0.04 annualized dividend and a yield of 0.0%. Northeast Bancorp’s payout ratio is 0.34%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NBN. AQR Capital Management LLC grew its position in Northeast Bancorp by 61.3% in the first quarter. AQR Capital Management LLC now owns 9,324 shares of the financial services provider’s stock worth $854,000 after acquiring an additional 3,542 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Northeast Bancorp by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,157 shares of the financial services provider’s stock worth $381,000 after acquiring an additional 175 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its position in Northeast Bancorp by 15.7% in the first quarter. Dynamic Technology Lab Private Ltd now owns 2,765 shares of the financial services provider’s stock worth $253,000 after acquiring an additional 375 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Northeast Bancorp by 12.5% in the first quarter. Goldman Sachs Group Inc. now owns 68,362 shares of the financial services provider’s stock worth $6,258,000 after acquiring an additional 7,579 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in Northeast Bancorp during the first quarter valued at approximately $411,000.

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.