Northeast Bancorp (NASDAQ:NBN) Issues Earnings Results

Northeast Bancorp (NASDAQ:NBN) posted its quarterly earnings data on Monday. The financial services provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.40 by $0.65, Zacks reports. Northeast Bancorp had a net margin of 25.96% and a return on equity of 18.63%.

Northeast Bancorp Stock Performance

NASDAQ:NBN opened at $129.24 on Monday. Northeast Bancorp has a fifty-two week low of $80.75 and a fifty-two week high of $142.31. The stock’s 50-day moving average is $127.63 and its two-hundred day moving average is $120.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.13 and a quick ratio of 1.10. The stock has a market cap of $1.06 billion, a PE ratio of 11.07 and a beta of 0.58.

Analysts Set New Price Targets

Several research firms recently issued reports on NBN. Wall Street Zen downgraded shares of Northeast Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. Keefe, Bruyette & Woods upped their price objective on shares of 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 restated a “buy (b)” rating on shares of Northeast Bancorp in a research note on Monday, May 4th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $130.50.

Institutional Trading of Northeast Bancorp

Several large investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC raised its position in shares of Northeast Bancorp by 1,071.4% in the fourth quarter. Quadrant Capital Group LLC now owns 820 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 750 shares during the period. Quantbot Technologies LP boosted 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 valued at $201,000 after acquiring an additional 1,186 shares during the period. EP Wealth Advisors LLC acquired a new stake in shares of Northeast Bancorp in the second quarter valued at about $202,000. Integrated Investment Consultants LLC acquired a new position in Northeast Bancorp during the 3rd quarter valued at $211,000. Finally, Thrivent Financial for Lutherans acquired a new position in Northeast Bancorp in the 2nd quarter valued at approximately $227,000.

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.