Northeast Bancorp (NASDAQ:NBN) Shares Cross Above 200 Day Moving Average - What's Next?

Key Points

• Northeast Bancorp shares crossed above their 200-day moving average, reaching $135.60 and last trading at $134.01 versus the $122.46 average.
• Analyst sentiment remains positive overall, with a “Moderate Buy” consensus and an average price target of $143.50; Piper Sandler raised its target to $151, while another analyst downgraded the stock to “Hold.”
• The company reported quarterly EPS of $4.05, beating estimates by $0.65, although revenue fell short of forecasts. Northeast Bancorp also declared a $0.01 quarterly dividend, while major institutions including BlackRock and Ampfield Management recently established positions.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $122.46 and traded as high as $135.60. Northeast Bancorp shares last traded at $134.01, with a volume of 92,629 shares traded.

Analyst Ratings Changes

NBN has been the topic of several recent analyst reports. Piper Sandler raised their price objective on shares of Northeast Bancorp from $145.00 to $151.00 and gave the company an "overweight" rating in a research report on Monday, August 3rd. Wall Street Zen downgraded shares of Northeast Bancorp from a "buy" rating to a "hold" rating in a report on Sunday, May 24th. Keefe, Bruyette & Woods increased their price target on Northeast Bancorp from $128.00 to $136.00 and gave the stock a "market perform" rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Northeast Bancorp in a research note on Friday, July 31st. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $143.50.

Northeast Bancorp Trading Down 0.7%

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 company has a market capitalization of $1.10 billion, a PE ratio of 10.54 and a beta of 0.58. The stock has a fifty day moving average of $130.67 and a 200 day moving average of $122.46.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The financial services provider reported $4.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.40 by $0.65. The business had revenue of $65.24 million during the quarter, compared to analyst estimates of $67.21 million. Northeast Bancorp had a net margin of 27.91% and a return on equity of 19.94%.

Northeast Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 10th will be given a dividend of $0.01 per share. The ex-dividend date is Monday, August 10th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Northeast Bancorp's dividend payout ratio is currently 0.31%.

Hedge Funds Weigh In On Northeast Bancorp

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Northeast Bancorp in the 2nd quarter worth $83,160,000. Ampfield Management L.P. purchased a new position in shares of Northeast Bancorp during the first quarter valued at about $19,500,000. Hotchkis & Wiley Capital Management LLC grew its position 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 in the last quarter. Boothbay Fund Management LLC bought a new stake in shares of Northeast Bancorp in the fourth quarter worth about $8,373,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Northeast Bancorp in the second quarter worth about $4,747,000.

About Northeast Bancorp

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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