Northeast Bancorp (NASDAQ:NBN) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• Northeast Bancorp reported quarterly EPS of $3.42, exceeding analyst expectations of $3.41 by $0.01. The company posted a 27.91% net margin and 19.35% return on equity.
• NBN shares rose $2.58 to $131.32 during Monday trading, giving the company a market capitalization of approximately $1.08 billion.
• Analyst sentiment remains favorable, with an average rating of “Moderate Buy” and an average price target of $143.50; Piper Sandler raised its target to $151.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) released its quarterly earnings results on Monday. The financial services provider reported $3.42 EPS for the quarter, beating the consensus estimate of $3.41 by $0.01, Zacks reports. Northeast Bancorp had a net margin of 27.91% and a return on equity of 19.35%.

Northeast Bancorp Price Performance

NASDAQ:NBN traded up $2.58 during trading hours on Monday, hitting $131.32. 101,054 shares of the stock traded hands, compared to its average volume of 119,221. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 10.32 and a beta of 0.60. Northeast Bancorp has a 1 year low of $80.75 and a 1 year high of $142.31. The stock has a 50 day moving average price of $128.82 and a 200 day moving average price of $127.52. The company has a quick ratio of 1.32, a current ratio of 1.35 and a debt-to-equity ratio of 1.42.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NBN shares. Piper Sandler raised their price objective on shares of Northeast Bancorp from $145.00 to $151.00 and gave the stock an "overweight" rating in a report on Monday, August 3rd. Weiss Ratings restated a "buy (b)" rating on shares of Northeast Bancorp in a research report on Friday, July 31st. Finally, Keefe, Bruyette & Woods upped their target price on shares of Northeast Bancorp from $128.00 to $136.00 and gave the company a "market perform" rating in a report on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Northeast Bancorp has an average rating of "Moderate Buy" and an average target price of $143.50.

About Northeast Bancorp

Northeast Bancorp is the bank holding company for Northeast Bank, a community-focused financial institution headquartered in Lewiston, Maine. Founded in 1872, Northeast Bank provides banking and lending services to individuals, families, businesses and nonprofit organizations.

The bank offers deposit products such as checking, savings and money market accounts, certificates of deposit and business deposit services. Its lending activities include commercial real estate, commercial and industrial, residential real estate, consumer and municipal loans, as well as construction and other business financing.

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