Northeast Bancorp (NASDAQ:NBN) Issues Earnings Results, Beats Estimates By $0.09 EPS

Northeast Bancorp (NASDAQ:NBN) posted its earnings results on Monday. The financial services provider reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.09, Zacks reports. The firm had revenue of $51.77 million during the quarter, compared to analysts’ expectations of $54.83 million. Northeast Bancorp had a net margin of 24.16% and a return on equity of 17.73%.

Northeast Bancorp Trading Down 3.7%

Shares of NBN stock opened at $110.04 on Wednesday. The firm has a market capitalization of $903.43 million, a P/E ratio of 10.61 and a beta of 0.54. Northeast Bancorp has a 1 year low of $78.17 and a 1 year high of $121.47. The firm’s fifty day simple moving average is $102.10 and its 200 day simple moving average is $99.76. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.65.

Northeast Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th will be paid a $0.01 dividend. The ex-dividend date is Wednesday, February 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Northeast Bancorp’s dividend payout ratio (DPR) is presently 0.39%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NBN shares. Weiss Ratings restated a “buy (b-)” rating on shares of Northeast Bancorp in a report on Monday, December 29th. Wall Street Zen lowered Northeast Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Keefe, Bruyette & Woods decreased their price target on Northeast Bancorp from $107.00 to $102.00 and set a “market perform” rating for the company in a research note on Thursday, October 30th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NBN. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Northeast Bancorp by 237.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 125,851 shares of the financial services provider’s stock valued at $12,605,000 after buying an additional 88,592 shares during the period. Ameriprise Financial Inc. raised its holdings in Northeast Bancorp by 247.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 25,590 shares of the financial services provider’s stock valued at $2,563,000 after acquiring an additional 18,235 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Northeast Bancorp by 128.7% in the 3rd quarter. Bank of America Corp DE now owns 30,807 shares of the financial services provider’s stock worth $3,086,000 after acquiring an additional 17,339 shares during the period. Boothbay Fund Management LLC acquired a new stake in shares of Northeast Bancorp during the 2nd quarter worth approximately $1,411,000. Finally, Invesco Ltd. grew its holdings in shares of Northeast Bancorp by 22.2% during the 3rd quarter. Invesco Ltd. now owns 77,833 shares of the financial services provider’s stock worth $7,796,000 after purchasing an additional 14,127 shares in the last quarter.

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.