Northeast Bancorp (NASDAQ:NBN) Sees Large Volume Increase - Time to Buy?

Northeast Bancorp (NASDAQ:NBN - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 115,574 shares changed hands during trading, an increase of 119% from the previous session's volume of 52,676 shares.The stock last traded at $96.00 and had previously closed at $96.76.

Northeast Bancorp Trading Down 0.7%

The company's fifty day moving average price is $86.01 and its 200-day moving average price is $91.58. The stock has a market cap of $788.45 million, a price-to-earnings ratio of 10.68 and a beta of 0.59. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.25 and a quick ratio of 1.23.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $2.23 earnings per share for the quarter, missing analysts' consensus estimates of $2.83 by ($0.60). The company had revenue of $52.57 million for the quarter, compared to analysts' expectations of $50.09 million. Northeast Bancorp had a net margin of 22.84% and a return on equity of 17.46%.

Northeast Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. Northeast Bancorp's dividend payout ratio (DPR) is 0.44%.

Institutional Investors Weigh In On Northeast Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Picton Mahoney Asset Management increased its stake in Northeast Bancorp by 57.6% during the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the financial services provider's stock worth $30,000 after acquiring an additional 118 shares during the last quarter. Ellsworth Advisors LLC raised its position in Northeast Bancorp by 1.3% in the first quarter. Ellsworth Advisors LLC now owns 11,608 shares of the financial services provider's stock valued at $1,063,000 after purchasing an additional 144 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Northeast Bancorp by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,157 shares of the financial services provider's stock worth $381,000 after purchasing an additional 175 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of Northeast Bancorp by 5.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,433 shares of the financial services provider's stock worth $315,000 after buying an additional 186 shares during the period. Finally, Sterling Capital Management LLC grew its stake in shares of Northeast Bancorp by 2.9% in the fourth quarter. Sterling Capital Management LLC now owns 6,633 shares of the financial services provider's stock valued at $608,000 after buying an additional 187 shares in the last quarter.

Northeast Bancorp Company Profile

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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