Northeast Bancorp (NASDAQ:NBN) Trading 9.5% Higher – What’s Next?

Shares of Northeast Bancorp (NASDAQ:NBN) traded up 9.5% during trading on Thursday . The company traded as high as $109.34 and last traded at $110.3360. Approximately 87,297 shares were traded during mid-day trading, an increase of 27% from the average session volume of 68,928 shares. The stock had previously closed at $100.72.

Wall Street Analyst Weigh In

A number of research firms have commented on NBN. Wall Street Zen cut shares of Northeast Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Keefe, Bruyette & Woods reduced their price objective on shares of Northeast Bancorp from $107.00 to $102.00 and set a “market perform” rating on the stock in a research note on Thursday, October 30th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Northeast Bancorp in a research note on Monday. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Northeast Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $102.00.

Northeast Bancorp Price Performance

The firm has a 50 day moving average price of $90.52 and a two-hundred day moving average price of $95.18. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market cap of $898.26 million, a P/E ratio of 10.28 and a beta of 0.55.

Northeast Bancorp (NASDAQ:NBN) last announced its earnings results on Tuesday, October 28th. The financial services provider reported $2.67 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 18.52% and a net margin of 24.36%.

Northeast Bancorp Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Northeast Bancorp by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 397,769 shares of the financial services provider’s stock worth $36,412,000 after buying an additional 14,773 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Northeast Bancorp by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,188 shares of the financial services provider’s stock worth $1,848,000 after buying an additional 313 shares during the period. Deutsche Bank AG lifted its stake in Northeast Bancorp by 511.9% in the 1st quarter. Deutsche Bank AG now owns 27,988 shares of the financial services provider’s stock valued at $2,562,000 after buying an additional 23,414 shares in the last quarter. Nuveen LLC acquired a new stake in Northeast Bancorp during the 1st quarter worth $8,089,000. Finally, Russell Investments Group Ltd. grew its position in shares of Northeast Bancorp by 2.4% in the first quarter. Russell Investments Group Ltd. now owns 51,751 shares of the financial services provider’s stock valued at $4,737,000 after purchasing an additional 1,203 shares in the last quarter.

Northeast Bancorp Company Profile

Northeast Bank provides banking services to individual and corporate customers in Maine. The company's deposit products include demand deposit, NOW, money market, savings, certificate of deposit, and individual retirement accounts, as well as checking accounts. Its loan portfolio comprises residential mortgage loans; multi-family and other commercial real estate loans; commercial and industrial loans, such as term loans, lines of credit and equipment, and receivables financing; consumer loans comprising mobile home and overdraft, and deposit-secured loans; and small business administration loans.