Northeast Bancorp (NASDAQ:NBN) Announces Earnings Results, Beats Expectations By $0.50 EPS

Key Points

• Northeast Bancorp reported Q earnings of $3.53 EPS, beating estimates by $0.50, with a return on equity of 17.34% and a net margin of 24.16%.
• Shares traded up about 3.2% to $123.57 after the report; the stock has a market cap of roughly $1.01 billion and a P/E of 11.92, trading above its 50‑ and 200‑day averages.
• Institutional buying increased (notably Balyasny, Millennium, Susquehanna and new stakes by EP Wealth and Verition), and analysts maintain a consensus "Moderate Buy" with Piper Sandler at an overweight rating and a $133 price target (average target $117.50).

Northeast Bancorp (NASDAQ:NBN - Get Free Report) posted its quarterly earnings data on Monday. The financial services provider reported $3.53 earnings per share for the quarter, beating analysts' consensus estimates of $3.03 by $0.50, Zacks reports. Northeast Bancorp had a return on equity of 17.34% and a net margin of 24.16%.

Northeast Bancorp Trading Up 3.2%

Shares of NBN stock traded up $3.80 during mid-day trading on Monday, hitting $123.57. The company's stock had a trading volume of 133,718 shares, compared to its average volume of 113,160. The company's fifty day simple moving average is $114.70 and its 200-day simple moving average is $105.65. Northeast Bancorp has a 52 week low of $79.05 and a 52 week high of $127.00. 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 has a market cap of $1.01 billion, a PE ratio of 11.92 and a beta of 0.58.

Institutional Investors Weigh In On Northeast Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. EP Wealth Advisors LLC bought a new stake in Northeast Bancorp in the fourth quarter worth approximately $215,000. Susquehanna Fundamental Investments LLC boosted its holdings in shares of Northeast Bancorp by 29.0% during the 4th quarter. Susquehanna Fundamental Investments LLC now owns 5,336 shares of the financial services provider's stock worth $555,000 after buying an additional 1,200 shares in the last quarter. Millennium Management LLC grew its position in shares of Northeast Bancorp by 35.9% during the 4th quarter. Millennium Management LLC now owns 3,174 shares of the financial services provider's stock worth $330,000 after buying an additional 838 shares during the period. Balyasny Asset Management L.P. grew its position in shares of Northeast Bancorp by 258.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 10,673 shares of the financial services provider's stock worth $1,109,000 after buying an additional 7,699 shares during the period. Finally, Verition Fund Management LLC bought a new stake in shares of Northeast Bancorp in the 4th quarter valued at $757,000.

Wall Street Analyst Weigh In

NBN has been the topic of a number of analyst reports. Piper Sandler began coverage on Northeast Bancorp in a research report 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, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.

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