Northeast Bancorp's (NBN) "Buy (B)" Rating Reiterated at Weiss Ratings

Key Points

• Northeast Bancorp's stock receives a "Buy (B)" rating reaffirmation from Weiss Ratings, indicating positive analyst sentiment.
• Shares of Northeast Bancorp rose 3.5% during trading, reaching $95.82, with a market capitalization of $786.64 million.
• The company reported earnings of $3.00 per share, exceeding analysts' expectations, and had a net margin of 23.77%.

Northeast Bancorp (NASDAQ:NBN - Get Free Report)'s stock had its "buy (b)" rating reaffirmed by analysts at Weiss Ratings in a report issued on Tuesday,Weiss Ratings reports.

Separately, Wall Street Zen raised shares of Northeast Bancorp from a "hold" rating to a "buy" rating in a research report on Saturday, September 20th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $115.00.

Northeast Bancorp Trading Up 3.5%

Shares of NASDAQ NBN traded up $3.25 during midday trading on Tuesday, reaching $95.82. 44,502 shares of the stock were exchanged, compared to its average volume of 68,254. The business has a 50-day simple moving average of $103.85 and a two-hundred day simple moving average of $93.74. The company has a market capitalization of $786.64 million, a price-to-earnings ratio of 9.50 and a beta of 0.60. Northeast Bancorp has a 12 month low of $78.17 and a 12 month high of $113.01. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.24 and a quick ratio of 1.23.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The financial services provider reported $3.00 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 23.77% and a return on equity of 18.56%.

Institutional Investors Weigh In On Northeast Bancorp

Several institutional investors have recently added to or reduced their stakes in the stock. Ellsworth Advisors LLC lifted its position in Northeast Bancorp by 1.3% in the 1st quarter. Ellsworth Advisors LLC now owns 11,608 shares of the financial services provider's stock valued at $1,063,000 after acquiring an additional 144 shares in the last quarter. Jump Financial LLC lifted its position in Northeast Bancorp by 5.2% during the 2nd quarter. Jump Financial LLC now owns 3,129 shares of the financial services provider's stock worth $278,000 after buying an additional 154 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Northeast Bancorp by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,157 shares of the financial services provider's stock worth $381,000 after buying an additional 175 shares in the last quarter. CWM LLC lifted its position in Northeast Bancorp by 136.8% during the 1st quarter. CWM LLC now owns 438 shares of the financial services provider's stock worth $40,000 after buying an additional 253 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its position in Northeast Bancorp by 19.4% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 1,717 shares of the financial services provider's stock worth $153,000 after buying an additional 279 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.

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