Northeast Bancorp (NASDAQ:NBN) Shares Gap Up – Still a Buy?

Shares of Northeast Bancorp (NASDAQ:NBN) gapped up before the market opened on Friday . The stock had previously closed at $100.72, but opened at $108.99. Northeast Bancorp shares last traded at $109.45, with a volume of 21,502 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NBN shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Northeast Bancorp in a research report on Monday. Wall Street Zen downgraded Northeast Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Keefe, Bruyette & Woods lowered their price objective on Northeast Bancorp from $107.00 to $102.00 and set a “market perform” rating on the stock in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.00.

Northeast Bancorp Price Performance

The company has a fifty day simple moving average of $90.82 and a two-hundred day simple moving average of $95.28. The stock has a market capitalization of $896.14 million, a price-to-earnings ratio of 10.26 and a beta of 0.55. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.25 and a current ratio of 1.25.

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

Northeast Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th were given a $0.01 dividend. The ex-dividend date was Monday, November 10th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Northeast Bancorp’s payout ratio is presently 0.38%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NBN. American Century Companies Inc. boosted its stake in shares of Northeast Bancorp by 11.4% in the 1st quarter. American Century Companies Inc. now owns 192,279 shares of the financial services provider’s stock valued at $17,601,000 after purchasing an additional 19,741 shares in the last quarter. Vanguard Group Inc. lifted its stake in Northeast Bancorp by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 397,769 shares of the financial services provider’s stock valued at $36,412,000 after purchasing an additional 14,773 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in Northeast Bancorp by 23.4% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 33,249 shares of the financial services provider’s stock valued at $3,044,000 after buying an additional 6,313 shares in the last quarter. Geode Capital Management LLC boosted its position in 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 buying an additional 14,118 shares in the last quarter. Finally, Rafferty Asset Management LLC bought a new stake in shares of Northeast Bancorp during the first quarter worth $676,000.

About Northeast Bancorp

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.