Northeast Bancorp (NASDAQ:NBN) Price Target Raised to $151.00

Northeast Bancorp (NASDAQ:NBN) had its price objective increased by Piper Sandler from $145.00 to $151.00 in a report released on Monday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other analysts also recently issued reports about the stock. Keefe, Bruyette & Woods increased their price target on shares of Northeast Bancorp from $128.00 to $136.00 and gave the company a “market perform” rating in a research report on Tuesday, July 28th. Weiss Ratings restated a “buy (b)” rating on shares of Northeast Bancorp in a report on Friday, July 31st. Finally, Wall Street Zen downgraded shares of Northeast Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. Two investment analysts have rated the stock with a Buy rating and one has given 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 price target of $143.50.

Northeast Bancorp Trading Down 1.3%

NASDAQ NBN opened at $133.62 on Monday. Northeast Bancorp has a 12 month low of $80.75 and a 12 month high of $142.31. The stock has a 50-day simple moving average of $128.60 and a 200 day simple moving average of $121.35. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $1.10 billion, a PE ratio of 10.50 and a beta of 0.58.

Northeast Bancorp (NASDAQ:NBN) last issued its earnings results on Monday, July 27th. The financial services provider reported $4.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.40 by $0.65. The firm had revenue of $65.24 million for the quarter, compared to analysts’ expectations of $67.21 million. Northeast Bancorp had a return on equity of 19.94% and a net margin of 27.91%.

Northeast Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date is Monday, August 10th. Northeast Bancorp’s payout ratio is 0.31%.

Institutional Trading of Northeast Bancorp

Several hedge funds have recently bought and sold shares of NBN. GAMMA Investing LLC boosted its holdings in shares of Northeast Bancorp by 105.6% in the second quarter. GAMMA Investing LLC now owns 185 shares of the financial services provider’s stock valued at $25,000 after buying an additional 95 shares during the period. OP Asset Management Ltd acquired a new stake in shares of Northeast Bancorp during the first quarter worth $33,000. Caitong International Asset Management Co. Ltd lifted its position in Northeast Bancorp by 36,700.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 368 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 367 shares in the last quarter. Clearstead Advisors LLC lifted its position in Northeast Bancorp by 194.0% in the 4th quarter. Clearstead Advisors LLC now owns 741 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 489 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Northeast Bancorp by 1,071.4% in the 4th quarter. Quadrant Capital Group LLC now owns 820 shares of the financial services provider’s stock worth $85,000 after purchasing an additional 750 shares during the period.

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.