Northeast Bancorp (NASDAQ:NBN) Hits New 1-Year High – Time to Buy?

Northeast Bancorp (NASDAQ:NBN) reached a new 52-week high on Tuesday . The stock traded as high as $122.79 and last traded at $120.91, with a volume of 22554 shares changing hands. The stock had previously closed at $119.14.

Analyst Ratings Changes

NBN has been the subject of several research reports. Wall Street Zen cut Northeast Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Keefe, Bruyette & Woods reduced their target price on shares of Northeast Bancorp from $107.00 to $102.00 and set a “market perform” rating for the company in a research report on Thursday, October 30th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Northeast Bancorp in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.00.

Northeast Bancorp Stock Performance

The firm has a fifty day moving average price of $106.81 and a 200 day moving average price of $100.81. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.65. The firm has a market cap of $999.49 million, a PE ratio of 11.75 and a beta of 0.57.

Northeast Bancorp (NASDAQ:NBN) last released its quarterly earnings data on Monday, January 26th. The financial services provider reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.09. Northeast Bancorp had a net margin of 24.16% and a return on equity of 17.73%. The firm had revenue of $51.77 million during the quarter, compared to analysts’ expectations of $54.83 million.

Northeast Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th will be given 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 of this dividend is Wednesday, February 11th. Northeast Bancorp’s payout ratio is presently 0.39%.

Institutional Investors Weigh In On Northeast Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NBN. State of Alaska Department of Revenue acquired a new position in shares of Northeast Bancorp in the 3rd quarter valued at $31,000. PNC Financial Services Group Inc. purchased a new stake in Northeast Bancorp in the 3rd quarter valued at about $89,000. Police & Firemen s Retirement System of New Jersey lifted its position in Northeast Bancorp by 19.4% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 1,717 shares of the financial services provider’s stock valued at $153,000 after buying an additional 279 shares during the last quarter. Quantbot Technologies LP lifted its position in Northeast Bancorp by 110.9% in the second quarter. Quantbot Technologies LP now owns 2,255 shares of the financial services provider’s stock valued at $201,000 after buying an additional 1,186 shares during the last quarter. Finally, Ritholtz Wealth Management purchased a new position in Northeast Bancorp during the fourth quarter worth about $202,000.

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.