Northeast Bancorp (NASDAQ:NBN) Upgraded 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 research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

Northeast Bancorp Stock Down 3.1%

Shares of NBN stock traded down $3.45 during midday trading on Friday, reaching $109.41. 301,468 shares of the stock were exchanged, compared to its average volume of 68,201. Northeast Bancorp has a 1 year low of $68.89 and a 1 year high of $113.01. The company's 50 day moving average is $103.11 and its two-hundred day moving average is $92.97. 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 firm has a market cap of $898.26 million, a PE ratio of 10.85 and a beta of 0.63.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The financial services provider reported $3.00 earnings per share for the quarter, beating analysts' consensus estimates of $2.54 by $0.46. Northeast Bancorp had a return on equity of 19.19% and a net margin of 23.77%.The company had revenue of $62.70 million during the quarter, compared to analyst estimates of $56.50 million.

Institutional Investors Weigh In On Northeast Bancorp

Several large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its position in shares of Northeast Bancorp by 302.6% during the fourth quarter. BNP Paribas Financial Markets now owns 6,630 shares of the financial services provider's stock valued at $608,000 after buying an additional 4,983 shares during the period. Janus Henderson Group PLC bought a new position in Northeast Bancorp in the fourth quarter worth approximately $357,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Northeast Bancorp by 10.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,982 shares of the financial services provider's stock worth $365,000 after buying an additional 388 shares in the last quarter. Millennium Management LLC increased its position in shares of Northeast Bancorp by 38.3% during the fourth quarter. Millennium Management LLC now owns 17,893 shares of the financial services provider's stock worth $1,641,000 after purchasing an additional 4,956 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of Northeast Bancorp by 0.4% during 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.

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.