Northeast Bancorp (NASDAQ:NBN) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Thursday.

NASDAQ:NBN traded up $0.05 during trading hours on Thursday, hitting $21.85. 8,000 shares of the company traded hands, compared to its average volume of 22,307. The stock has a market cap of $200.91 million, a P/E ratio of 12.76 and a beta of 0.37. Northeast Bancorp has a twelve month low of $18.85 and a twelve month high of $29.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.08 and a quick ratio of 1.07.

Northeast Bancorp (NASDAQ:NBN) last released its earnings results on Monday, July 30th. The financial services provider reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.11). The company had revenue of $16.37 million for the quarter. Northeast Bancorp had a net margin of 22.17% and a return on equity of 12.02%.

In related news, CEO Richard Wayne bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 7th. The stock was purchased at an average cost of $22.20 per share, for a total transaction of $222,000.00. Following the purchase, the chief executive officer now directly owns 41,667 shares in the company, valued at $925,007.40. The purchase was disclosed in a filing with the SEC, which is available through this link. Over the last quarter, insiders have purchased 10,200 shares of company stock valued at $226,375. Corporate insiders own 13.38% of the company’s stock.

A number of institutional investors have recently made changes to their positions in NBN. Western Standard LLC bought a new stake in Northeast Bancorp in the 2nd quarter valued at $292,000. Measured Wealth Private Client Group LLC bought a new stake in Northeast Bancorp in the 2nd quarter valued at $353,000. New York State Common Retirement Fund increased its holdings in Northeast Bancorp by 231.0% in the 1st quarter. New York State Common Retirement Fund now owns 25,820 shares of the financial services provider’s stock valued at $529,000 after buying an additional 18,020 shares during the period. Victory Capital Management Inc. bought a new stake in Northeast Bancorp in the 2nd quarter valued at $859,000. Finally, Northern Trust Corp increased its holdings in Northeast Bancorp by 3.0% in the 1st quarter. Northern Trust Corp now owns 82,221 shares of the financial services provider’s stock valued at $1,686,000 after buying an additional 2,396 shares during the period. 49.89% of the stock is currently owned by hedge funds and other institutional investors.

Northeast Bancorp Company Profile

Northeast Bancorp operates as the bank holding company for Northeast Bank that provides banking products and services to individual and corporate customers in the United States. The company's deposit products include noninterest-bearing demand deposit, NOW, money market, and savings accounts, as well as certificate of deposit accounts.

Read More: What is the Ex-Dividend Date in Investing?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Northeast Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northeast Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.