Northeast Bancorp (NASDAQ:NBN) Issues Quarterly Earnings Results

Northeast Bancorp (NASDAQ:NBN) posted its earnings results on Monday. The financial services provider reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.09, Zacks reports. Northeast Bancorp had a return on equity of 18.52% and a net margin of 24.36%.

Northeast Bancorp Stock Performance

Shares of NBN stock traded up $0.12 during trading hours on Monday, hitting $114.25. The stock had a trading volume of 86,748 shares, compared to its average volume of 118,215. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $937.99 million, a PE ratio of 10.74 and a beta of 0.54. The stock’s 50 day moving average is $100.90 and its 200 day moving average is $99.53. Northeast Bancorp has a twelve month low of $78.17 and a twelve month high of $121.47.

Northeast Bancorp Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NBN. Integrated Investment Consultants LLC purchased a new position in shares of Northeast Bancorp during the 3rd quarter worth approximately $211,000. Quantbot Technologies LP grew its holdings in Northeast Bancorp by 110.9% during the second quarter. Quantbot Technologies LP now owns 2,255 shares of the financial services provider’s stock worth $201,000 after acquiring an additional 1,186 shares during the period. EP Wealth Advisors LLC acquired a new position in Northeast Bancorp during the second quarter worth $202,000. Creative Planning purchased a new position in Northeast Bancorp in the third quarter worth $240,000. Finally, Thrivent Financial for Lutherans acquired a new stake in Northeast Bancorp in the second quarter valued at $227,000.

Analyst Ratings Changes

NBN has been the topic of a number of research analyst reports. Wall Street Zen lowered Northeast Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Northeast Bancorp in a report on Monday, December 29th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Northeast Bancorp from $107.00 to $102.00 and set a “market perform” rating for the company 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $102.00.

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.