Northeast Bancorp (NASDAQ:NBN) Sees Unusually-High Trading Volume – What’s Next?

by · The Cerbat Gem

Northeast Bancorp (NASDAQ:NBN – Get Free Report) shares saw unusually-strong trading volume on Friday . Approximately 91,079 shares were traded during mid-day trading, an increase of 34% from the previous session’s volume of 67,795 shares.The stock last traded at $99.8350 and had previously closed at $99.32.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NBN shares. Wall Street Zen downgraded Northeast Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northeast Bancorp in a research note on Monday. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Northeast Bancorp from $107.00 to $102.00 and set a “market perform” rating on the stock in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $102.00.

View Our Latest Research Report on NBN

Northeast Bancorp Stock Up 0.1%

The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market capitalization of $815.91 million, a P/E ratio of 9.32 and a beta of 0.55. The firm’s fifty day moving average is $90.14 and its 200-day moving average is $94.65.

Northeast Bancorp (NASDAQ:NBN – Get Free Report) last announced its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $2.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.01). Northeast Bancorp had a return on equity of 18.52% and a net margin of 24.36%.The firm had revenue of $52.88 million during the quarter, compared to the consensus estimate of $57.43 million.

Northeast Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th were paid a $0.01 dividend. The ex-dividend date was Monday, November 10th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Northeast Bancorp’s payout ratio is currently 0.38%.

Institutional Investors Weigh In On Northeast Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NBN. Quantbot Technologies LP raised its holdings in shares of Northeast Bancorp by 6.3% in the 3rd quarter. Quantbot Technologies LP now owns 2,397 shares of the financial services provider’s stock valued at $240,000 after purchasing an additional 142 shares in the last quarter. Ellsworth Advisors LLC increased its position in shares of Northeast Bancorp by 1.3% during the first quarter. Ellsworth Advisors LLC now owns 11,608 shares of the financial services provider’s stock worth $1,063,000 after purchasing an additional 144 shares in the last quarter. Jump Financial LLC grew its stake in shares of Northeast Bancorp by 5.2% in the 2nd quarter. Jump Financial LLC now owns 3,129 shares of the financial services provider’s stock valued at $278,000 after buying an additional 154 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Northeast Bancorp by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,157 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 175 shares during the last quarter. Finally, Alps Advisors Inc. lifted its holdings in Northeast Bancorp by 4.4% during the 3rd quarter. Alps Advisors Inc. now owns 4,134 shares of the financial services provider’s stock worth $414,000 after buying an additional 176 shares in the last quarter.

Northeast Bancorp Company Profile

(Get Free Report)

Northeast Bank provides banking services to individual and corporate customers in Maine. The company's deposit products include demand deposit, NOW, money market, savings, certificate of deposit, and individual retirement accounts, as well as checking accounts. Its loan portfolio comprises residential mortgage loans; multi-family and other commercial real estate loans; commercial and industrial loans, such as term loans, lines of credit and equipment, and receivables financing; consumer loans comprising mobile home and overdraft, and deposit-secured loans; and small business administration loans.

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