Northeast Bank (NASDAQ:NBN) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Northeast Bank (NASDAQ:NBN – Get Rating) in a research report report published on Thursday. The firm issued a hold rating on the financial services provider’s stock.

Separately, Piper Sandler upped their price target on Northeast Bank from $46.00 to $60.00 in a research note on Friday, December 9th.

Northeast Bank Stock Performance

NBN stock opened at $37.97 on Thursday. The stock’s 50 day simple moving average is $43.52 and its 200 day simple moving average is $41.95. Northeast Bank has a fifty-two week low of $33.09 and a fifty-two week high of $48.50. The company has a market cap of $316.67 million, a P/E ratio of 7.07 and a beta of 1.28.

Northeast Bank (NASDAQ:NBN – Get Rating) last posted its quarterly earnings results on Wednesday, January 25th. The financial services provider reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.27. The firm had revenue of $30.05 million for the quarter, compared to analyst estimates of $27.25 million.

Northeast Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 23rd. Stockholders of record on Thursday, February 9th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend was Wednesday, February 8th. Northeast Bank’s dividend payout ratio (DPR) is presently 0.74%.

Institutional Trading of Northeast Bank

Several institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its stake in shares of Northeast Bank by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 451,811 shares of the financial services provider’s stock worth $19,022,000 after purchasing an additional 9,973 shares during the last quarter. BlackRock Inc. raised its stake in shares of Northeast Bank by 1.4% in the third quarter. BlackRock Inc. now owns 404,680 shares of the financial services provider’s stock worth $14,839,000 after purchasing an additional 5,542 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Northeast Bank by 0.6% in the first quarter. Renaissance Technologies LLC now owns 242,245 shares of the financial services provider’s stock valued at $8,263,000 after acquiring an additional 1,400 shares in the last quarter. Pacific Ridge Capital Partners LLC grew its holdings in shares of Northeast Bank by 11.8% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 208,128 shares of the financial services provider’s stock valued at $8,762,000 after acquiring an additional 22,014 shares in the last quarter. Finally, Trevian Wealth Management LLC grew its holdings in shares of Northeast Bank by 44.8% in the fourth quarter. Trevian Wealth Management LLC now owns 130,344 shares of the financial services provider’s stock valued at $5,487,000 after acquiring an additional 40,308 shares in the last quarter. 54.68% of the stock is owned by hedge funds and other institutional investors.

About Northeast Bank

(Get Rating)

Northeast Bank (Maine) engages in offering personal and business banking services. The company provides commercial loans nationally secured by all types of real estate, equipment or other business assets, including government guaranteed loans. It also provides a full range of business banking services, from banking accounts to financing options to cash management.