Northeast Bancorp (NASDAQ:NBN) Hits New 52-Week High – Still a Buy?

Shares of Northeast Bancorp (NASDAQ:NBN) hit a new 52-week high during trading on Wednesday . The stock traded as high as $119.95 and last traded at $118.1450, with a volume of 23081 shares trading hands. The stock had previously closed at $113.44.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NBN shares. Weiss Ratings restated a “buy (b-)” rating on shares of Northeast Bancorp in a research report on Monday, December 29th. Wall Street Zen cut Northeast Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Northeast Bancorp from $107.00 to $102.00 and set a “market perform” rating on the stock in a report on Thursday, October 30th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Northeast Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.00.

Northeast Bancorp Stock Performance

The stock has a market cap of $964.26 million, a price-to-earnings ratio of 11.08 and a beta of 0.54. The company’s fifty day simple moving average is $100.33 and its two-hundred day simple moving average is $99.34. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.25 and a quick ratio of 1.25.

Northeast Bancorp (NASDAQ:NBN) last posted its quarterly earnings results 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 the consensus estimate of $57.43 million. Northeast Bancorp had a net margin of 24.36% and a return on equity of 18.52%.

Northeast Bancorp Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new stake in Northeast Bancorp in the third quarter worth $31,000. PNC Financial Services Group Inc. bought a new position in shares of Northeast Bancorp during the 3rd quarter worth approximately $89,000. Police & Firemen s Retirement System of New Jersey grew its holdings in Northeast Bancorp by 19.4% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 1,717 shares of the financial services provider’s stock worth $153,000 after purchasing an additional 279 shares during the last quarter. Quantbot Technologies LP boosted its position in shares of Northeast Bancorp by 110.9% in the 2nd quarter. Quantbot Technologies LP now owns 2,255 shares of the financial services provider’s stock worth $201,000 after purchasing an additional 1,186 shares in the last quarter. Finally, Ritholtz Wealth Management purchased a new position in shares of Northeast Bancorp in the 4th quarter valued at approximately $202,000.

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.