Northeast Bancorp (NASDAQ:NBN) Issues Quarterly Earnings Results

Key Points

• Northeast Bancorp reported quarterly EPS of $4.05, beating the consensus estimate of $3.40 by $0.65. The company posted a 25.96% net margin and an 18.63% return on equity.
• NBN shares opened at $129.24, with a market capitalization of approximately $1.06 billion and a price-to-earnings ratio of 11.07. The stock has traded between $80.75 and $142.31 over the past year.
• Analyst sentiment remains positive but measured: two analysts rate the stock a Buy and one rates it a Hold, resulting in a consensus “Moderate Buy” rating and an average price target of $130.50.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) announced its earnings results on Monday. The financial services provider reported $4.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.65, Zacks reports. Northeast Bancorp had a net margin of 25.96% and a return on equity of 18.63%.

Northeast Bancorp Stock Performance

Shares of Northeast Bancorp stock opened at $129.24 on Monday. Northeast Bancorp has a one year low of $80.75 and a one year high of $142.31. The company has a market cap of $1.06 billion, a PE ratio of 11.07 and a beta of 0.58. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.10 and a current ratio of 1.13. The business has a 50-day simple moving average of $127.63 and a 200-day simple moving average of $120.30.

Analyst Ratings Changes

Several equities research analysts have commented on NBN shares. Wall Street Zen lowered Northeast Bancorp from a "buy" rating to a "hold" rating in a research note on Sunday, May 24th. Weiss Ratings reiterated a "buy (b)" rating on shares of Northeast Bancorp in a research report on Monday, May 4th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Northeast Bancorp from $120.00 to $128.00 and gave the company a "market perform" rating in a report on Wednesday, April 29th. Two investment 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 company has a consensus rating of "Moderate Buy" and an average target price of $130.50.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NBN. Quadrant Capital Group LLC boosted its holdings in shares of Northeast Bancorp by 1,071.4% in the 4th quarter. Quadrant Capital Group LLC now owns 820 shares of the financial services provider's stock valued at $85,000 after buying an additional 750 shares in the last quarter. Quantbot Technologies LP increased its holdings in Northeast Bancorp by 110.9% during the 2nd quarter. Quantbot Technologies LP now owns 2,255 shares of the financial services provider's stock valued at $201,000 after acquiring an additional 1,186 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in Northeast Bancorp during the second quarter worth about $202,000. Integrated Investment Consultants LLC purchased a new stake in shares of Northeast Bancorp in the third quarter valued at about $211,000. Finally, Thrivent Financial for Lutherans purchased a new position in shares of Northeast Bancorp during the 2nd quarter worth approximately $227,000.

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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