Northeast Bancorp (NASDAQ:NBN) Releases Quarterly Earnings Results, Beats Expectations By $0.53 EPS

Key Points

• Earnings beat: Northeast Bancorp reported Q EPS of $3.53, beating estimates by $0.53, with revenue of $66.62M (vs. $61.49M est.), a net margin of 24.16% and ROE of 17.34%.
• Shares jumped about 3.2% to open at $123.57; the stock has a one‑year range of $79.05–$127.00, a market cap near $1.01B and a trailing P/E of 11.92.
• Analyst and institutional interest is rising: Piper Sandler initiated coverage with an overweight and $133 price target, while several large funds (Hotchkis & Wiley, Ameriprise, BofA) materially increased positions.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) issued its earnings results on Monday. The financial services provider reported $3.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.00 by $0.53, Zacks reports. Northeast Bancorp had a net margin of 24.16% and a return on equity of 17.34%. The business had revenue of $66.62 million for the quarter, compared to analyst estimates of $61.49 million.

Northeast Bancorp Trading Up 3.2%

NASDAQ NBN opened at $123.57 on Tuesday. Northeast Bancorp has a one year low of $79.05 and a one year high of $127.00. The company has a 50-day simple moving average of $114.76 and a 200-day simple moving average of $105.86. 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 firm has a market capitalization of $1.01 billion, a PE ratio of 11.92 and a beta of 0.58.

Hedge Funds Weigh In On Northeast Bancorp

A number of large investors have recently bought and sold shares of NBN. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Northeast Bancorp by 237.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 125,851 shares of the financial services provider's stock valued at $12,605,000 after purchasing an additional 88,592 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Northeast Bancorp by 247.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 25,590 shares of the financial services provider's stock valued at $2,563,000 after purchasing an additional 18,235 shares during the period. Bank of America Corp DE grew its stake in Northeast Bancorp by 128.7% during the 3rd quarter. Bank of America Corp DE now owns 30,807 shares of the financial services provider's stock worth $3,086,000 after buying an additional 17,339 shares during the last quarter. Boothbay Fund Management LLC bought a new position in Northeast Bancorp during the 2nd quarter worth $1,411,000. Finally, Invesco Ltd. increased its position in Northeast Bancorp by 22.2% in the third quarter. Invesco Ltd. now owns 77,833 shares of the financial services provider's stock worth $7,796,000 after buying an additional 14,127 shares during the period.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Piper Sandler initiated coverage on Northeast Bancorp in a research note on Monday, March 16th. They issued an "overweight" rating and a $133.00 price target for the company. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Northeast Bancorp in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Northeast Bancorp has an average rating of "Moderate Buy" and an average price target of $117.50.

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.