Northeast Bancorp (NASDAQ:NBN) Sees Unusually-High Trading Volume – What’s Next?
by Scott Moore · The Cerbat GemShares of Northeast Bancorp (NASDAQ:NBN – Get Free Report) saw an uptick in trading volume on Wednesday . 139,485 shares changed hands during trading, an increase of 21% from the previous session’s volume of 114,855 shares.The stock last traded at $127.0610 and had previously closed at $126.64.
Wall Street Analysts Forecast Growth
Several brokerages have commented on NBN. Weiss Ratings restated a “buy (b)” rating on shares of Northeast Bancorp in a report on Monday, May 4th. Keefe, Bruyette & Woods increased their price objective on shares of Northeast Bancorp from $120.00 to $128.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 29th. Wall Street Zen lowered shares of Northeast Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, May 24th. Finally, Piper Sandler began coverage on shares of Northeast Bancorp in a research note on Monday, March 16th. They issued an “overweight” rating and a $133.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Northeast Bancorp has an average rating of “Moderate Buy” and an average target price of $130.50.
Check Out Our Latest Stock Analysis on NBN
Northeast Bancorp Stock Up 1.4%
The company has a market capitalization of $1.03 billion, a P/E ratio of 10.77 and a beta of 0.59. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average price is $119.45 and its two-hundred day moving average price is $110.58.
Northeast Bancorp (NASDAQ:NBN – Get Free Report) last released its earnings results on Monday, April 27th. The financial services provider reported $3.53 earnings per share 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 analysts’ expectations of $61.49 million. Northeast Bancorp had a net margin of 25.96% and a return on equity of 18.63%.
Northeast Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date of this dividend was Tuesday, May 12th. Northeast Bancorp’s payout ratio is 0.34%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. OP Asset Management Ltd acquired a new stake in shares of Northeast Bancorp in the 1st quarter worth about $33,000. Caitong International Asset Management Co. Ltd raised its holdings in Northeast Bancorp by 36,700.0% during 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 acquiring an additional 367 shares during the period. Clearstead Advisors LLC boosted its stake in Northeast Bancorp by 194.0% in the 4th quarter. Clearstead Advisors LLC now owns 741 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 489 shares during the period. Quadrant Capital Group LLC boosted 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 acquiring an additional 750 shares during the period. Finally, PNC Financial Services Group Inc. bought a new stake in Northeast Bancorp during the third quarter valued at $89,000.
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.