Northeast Bancorp (NASDAQ:NBN) Reaches New 12-Month High – Here’s What Happened

Shares of Northeast Bancorp (NASDAQ:NBN) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $142.31 and last traded at $132.2450, with a volume of 40326 shares changing hands. The stock had previously closed at $129.92.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wall Street Zen cut Northeast Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Piper Sandler assumed coverage on Northeast Bancorp in a research report on Monday, March 16th. They set an “overweight” rating and a $133.00 price target on the stock. Keefe, Bruyette & Woods lifted their price target on Northeast Bancorp from $120.00 to $128.00 and gave the company a “market perform” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Northeast Bancorp in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Northeast Bancorp has an average rating of “Moderate Buy” and an average target price of $130.50.

Northeast Bancorp Trading Up 1.4%

The firm has a market capitalization of $1.05 billion, a P/E ratio of 10.96 and a beta of 0.58. 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 firm has a 50 day moving average price of $122.95 and a two-hundred day moving average price of $114.19.

Northeast Bancorp (NASDAQ:NBN) last released its quarterly earnings data on Monday, April 27th. The financial services provider reported $3.53 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.53. The business had revenue of $66.62 million during the quarter, compared to analyst estimates 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 disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Northeast Bancorp’s dividend payout ratio (DPR) is currently 0.34%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NBN. AQR Capital Management LLC raised its position in Northeast Bancorp by 61.3% during the first quarter. AQR Capital Management LLC now owns 9,324 shares of the financial services provider’s stock valued at $854,000 after buying an additional 3,542 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Northeast Bancorp by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,157 shares of the financial services provider’s stock valued at $381,000 after buying an additional 175 shares during the period. Dynamic Technology Lab Private Ltd raised its position in Northeast Bancorp by 15.7% during the first quarter. Dynamic Technology Lab Private Ltd now owns 2,765 shares of the financial services provider’s stock valued at $253,000 after buying an additional 375 shares during the period. Goldman Sachs Group Inc. raised its position in Northeast Bancorp by 12.5% during the first quarter. Goldman Sachs Group Inc. now owns 68,362 shares of the financial services provider’s stock valued at $6,258,000 after buying an additional 7,579 shares during the period. Finally, Jane Street Group LLC acquired a new position in Northeast Bancorp during the first quarter valued at $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.