Northeast Bancorp (NASDAQ:NBN) Raised to "Buy" at Wall Street Zen

Key Points

• Northeast Bancorp was upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating positive expectations for the stock.
• The company reported $3.00 earnings per share (EPS) for the last quarter, significantly exceeding analysts' estimates of $2.54 and showing strong revenue performance.
• Several institutional investors, including Nuveen LLC and Royce & Associates LP, have recently increased their stakes in Northeast Bancorp, reflecting growing confidence in the company's potential.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

Northeast Bancorp Price Performance

NASDAQ:NBN traded up $2.24 during midday trading on Friday, hitting $110.96. 2,828 shares of the stock were exchanged, compared to its average volume of 66,985. Northeast Bancorp has a one year low of $70.00 and a one year high of $113.01. The company has a market capitalization of $910.98 million, a price-to-earnings ratio of 11.01 and a beta of 0.63. The business has a 50-day moving average price of $103.31 and a two-hundred day moving average price of $93.09. The company has a current ratio of 1.24, a quick ratio of 1.23 and a debt-to-equity ratio of 0.69.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.46. The company had revenue of $62.70 million for the quarter, compared to analysts' expectations of $56.50 million. Northeast Bancorp had a return on equity of 18.56% and a net margin of 23.77%.

Institutional Investors Weigh In On Northeast Bancorp

A number of large investors have recently bought and sold shares of the business. Ellsworth Advisors LLC boosted its holdings 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 worth $1,063,000 after purchasing an additional 144 shares in the last quarter. Jump Financial LLC boosted its holdings in Northeast Bancorp by 5.2% in the second quarter. Jump Financial LLC now owns 3,129 shares of the financial services provider's stock worth $278,000 after purchasing an additional 154 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Northeast Bancorp by 4.4% in 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. Nuveen Asset Management LLC boosted its holdings in Northeast Bancorp by 0.4% in the fourth quarter. Nuveen Asset Management LLC now owns 57,181 shares of the financial services provider's stock worth $5,245,000 after purchasing an additional 238 shares in the last quarter. Finally, CWM LLC boosted its holdings in Northeast Bancorp by 136.8% in the first quarter. CWM LLC now owns 438 shares of the financial services provider's stock worth $40,000 after purchasing an additional 253 shares in the last quarter.

About Northeast Bancorp

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.