Northeast Bank (NASDAQ:NBN) Sees Large Volume Increase - Should You Buy?

Shares of Northeast Bank (NASDAQ:NBN - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 52,580 shares were traded during mid-day trading, an increase of 21% from the previous session's volume of 43,581 shares.The stock last traded at $83.33 and had previously closed at $85.70.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised their price target on Northeast Bank from $102.00 to $115.00 and gave the company a "market perform" rating in a report on Monday, February 10th.

Northeast Bank Trading Down 2.2%

The company's 50 day simple moving average is $86.38 and its 200-day simple moving average is $93.73. The firm has a market cap of $672.46 million, a P/E ratio of 9.54 and a beta of 0.60.

Northeast Bank (NASDAQ:NBN - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $2.23 earnings per share for the quarter, missing analysts' consensus estimates of $2.83 by ($0.60). The company had revenue of $52.57 million for the quarter, compared to the consensus estimate of $50.09 million.

Northeast Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were given a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.04 annualized dividend and a yield of 0.05%. Northeast Bank's payout ratio is 0.44%.

Institutional Investors Weigh In On Northeast Bank

Hedge funds and other institutional investors have recently made changes to their positions in the business. R Squared Ltd purchased a new stake in Northeast Bank during the fourth quarter valued at approximately $41,000. Polaris Capital Management LLC increased its stake in shares of Northeast Bank by 3.5% in the 4th quarter. Polaris Capital Management LLC now owns 49,600 shares of the financial services provider's stock worth $4,550,000 after purchasing an additional 1,700 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Northeast Bank by 3.2% in the 4th quarter. Bank of New York Mellon Corp now owns 47,873 shares of the financial services provider's stock worth $4,391,000 after purchasing an additional 1,498 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Northeast Bank by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,875 shares of the financial services provider's stock worth $1,823,000 after purchasing an additional 892 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Northeast Bank during the fourth quarter valued at $294,000.

About Northeast Bank

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.