Northeast Bancorp (NASDAQ:NBN) Shares Cross Above 200-Day Moving Average – What’s Next?

Shares of Northeast Bancorp (NASDAQ:NBN) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $107.05 and traded as high as $130.00. Northeast Bancorp shares last traded at $127.99, with a volume of 93,319 shares.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Piper Sandler assumed coverage on shares of Northeast Bancorp in a research note on Monday, March 16th. They issued an “overweight” rating and a $133.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northeast Bancorp in a research note on Monday. Finally, Keefe, Bruyette & Woods raised their price target on shares of Northeast Bancorp from $120.00 to $128.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 29th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $130.50.

Northeast Bancorp Trading Up 1.1%

The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.24 and a current ratio of 1.27. The company’s fifty day simple moving average is $115.72 and its 200-day simple moving average is $107.05. The company has a market capitalization of $1.05 billion, a P/E ratio of 10.97 and a beta of 0.59.

Northeast Bancorp (NASDAQ:NBN) last released its quarterly earnings results on Monday, April 27th. The financial services provider reported $3.53 EPS for the quarter, beating the consensus estimate of $3.00 by $0.53. The business had revenue of $66.62 million during the quarter, compared to analyst estimates of $61.49 million. Northeast Bancorp had a net margin of 25.96% and a return on equity of 19.11%.

Northeast Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th 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 Tuesday, May 12th. Northeast Bancorp’s dividend payout ratio is presently 0.34%.

Institutional Trading of Northeast Bancorp

Hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue purchased a new stake in shares of Northeast Bancorp during the third quarter valued at about $31,000. OP Asset Management Ltd purchased a new position in shares of Northeast Bancorp in the 1st quarter valued at approximately $33,000. Caitong International Asset Management Co. Ltd raised its position in shares of Northeast Bancorp by 36,700.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 368 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 367 shares during the last quarter. Clearstead Advisors LLC increased its position in shares of Northeast Bancorp by 194.0% in the 4th quarter. Clearstead Advisors LLC now owns 741 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 489 shares during the period. Finally, Quadrant Capital Group LLC increased its position in shares of Northeast Bancorp by 1,071.4% in the 4th quarter. Quadrant Capital Group LLC now owns 820 shares of the financial services provider’s stock valued at $85,000 after acquiring an additional 750 shares during the period.

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.