Northeast Bancorp (NASDAQ:NBN) Share Price Breaks Above Fifty Day Moving Average - Here's What Happened

Key Points

• Northeast Bancorp shares rose 2.0%, reaching $131.99 and closing at $131.32 after moving above the 50-day moving average of $128.86.
• Analyst sentiment remains positive, with two Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $143.50.
• The bank narrowly beat quarterly earnings expectations with EPS of $3.42 versus $3.41 estimated, while revenue came in below forecasts at $64.27 million; it also declared a quarterly dividend of $0.01 per share.

Northeast Bancorp (NASDAQ:NBN - Get Free Report)'s share price crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $128.86 and traded as high as $131.99. Northeast Bancorp shares last traded at $131.32, with a volume of 101,377 shares changing hands.

Analyst Ratings Changes

NBN has been the topic of several research reports. Keefe, Bruyette & Woods upped their price objective on shares of Northeast Bancorp from $128.00 to $136.00 and gave the company a "market perform" rating in a report on Tuesday, July 28th. Weiss Ratings restated a "buy (b)" rating on shares of Northeast Bancorp in a research note on Friday, July 31st. Finally, Piper Sandler raised their target price on shares of Northeast Bancorp from $145.00 to $151.00 and gave the stock an "overweight" rating in a research note on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $143.50.

Northeast Bancorp Trading Up 2.0%

The company has a market cap of $1.08 billion, a P/E ratio of 10.32 and a beta of 0.60. The business has a fifty day moving average price of $128.86 and a 200-day moving average price of $123.13. The company has a quick ratio of 1.32, a current ratio of 1.35 and a debt-to-equity ratio of 1.42.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) last posted its earnings results on Monday, October 26th. The financial services provider reported $3.42 EPS for the quarter, beating the consensus estimate of $3.41 by $0.01. The company had revenue of $64.27 million for the quarter, compared to the consensus estimate of $66.77 million. Northeast Bancorp had a return on equity of 19.35% and a net margin of 27.91%.

Northeast Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Monday, November 9th will be paid a $0.01 dividend. The ex-dividend date is Monday, November 9th. This represents a $0.04 annualized dividend and a yield of 0.0%. Northeast Bancorp's payout ratio is 0.31%.

Institutional Investors Weigh In On Northeast Bancorp

A number of institutional investors have recently modified their holdings of the business. GAMMA Investing LLC increased its position in Northeast Bancorp by 105.6% during the second quarter. GAMMA Investing LLC now owns 185 shares of the financial services provider's stock worth $25,000 after acquiring an additional 95 shares during the period. OP Asset Management Ltd bought a new stake in Northeast Bancorp in the 1st quarter valued at about $33,000. Fortitude Family Office LLC boosted its holdings in Northeast Bancorp by 368.1% in the 3rd quarter. Fortitude Family Office LLC now owns 323 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 254 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of Northeast Bancorp during the 2nd quarter worth approximately $72,000. Finally, Nisa Investment Advisors LLC grew its position in shares of Northeast Bancorp by 160.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 743 shares of the financial services provider's stock worth $92,000 after purchasing an additional 458 shares in the last quarter.

Northeast Bancorp Company Profile

Northeast Bancorp is the bank holding company for Northeast Bank, a community-focused financial institution headquartered in Lewiston, Maine. Founded in 1872, Northeast Bank provides banking and lending services to individuals, families, businesses and nonprofit organizations.

The bank offers deposit products such as checking, savings and money market accounts, certificates of deposit and business deposit services. Its lending activities include commercial real estate, commercial and industrial, residential real estate, consumer and municipal loans, as well as construction and other business financing.

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