Northeast Bancorp (NASDAQ:NBN) Sees Large Volume Increase - Still a Buy?

Northeast Bancorp (NASDAQ:NBN - Get Free Report) shares saw unusually-high trading volume on Friday . Approximately 115,574 shares changed hands during mid-day 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 Stock Performance

The company has a current ratio of 1.25, a quick ratio of 1.23 and a debt-to-equity ratio of 0.85. The company's 50-day simple moving average is $86.56 and its 200-day simple moving average is $91.64. The stock has a market capitalization of $811.15 million, a price-to-earnings ratio of 10.99 and a beta of 0.59.

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

Northeast Bancorp Announces Dividend

The company also recently disclosed 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. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date of this dividend was Tuesday, May 13th. Northeast Bancorp's dividend payout ratio (DPR) is presently 0.44%.

Institutional Investors Weigh In On Northeast Bancorp

Several large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its stake in Northeast Bancorp by 12.5% during the first quarter. Goldman Sachs Group Inc. now owns 68,362 shares of the financial services provider's stock worth $6,258,000 after acquiring an additional 7,579 shares in the last quarter. Ellsworth Advisors LLC boosted its stake in Northeast Bancorp by 1.3% during the first quarter. Ellsworth Advisors LLC now owns 11,608 shares of the financial services provider's stock worth $1,063,000 after acquiring an additional 144 shares in the last quarter. Jane Street Group LLC bought a new position in Northeast Bancorp during the first quarter worth $411,000. Voleon Capital Management LP bought a new position in Northeast Bancorp during the first quarter worth $244,000. Finally, Dynamic Technology Lab Private Ltd boosted its stake in Northeast Bancorp by 15.7% during the first quarter. Dynamic Technology Lab Private Ltd now owns 2,765 shares of the financial services provider's stock worth $253,000 after acquiring an additional 375 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.