Northeast Bancorp (NASDAQ:NBN) Share Price Breaks Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Northeast Bancorp shares moved above their 200-day moving average, reaching $126.90 before closing at $125.99, although the stock remained below its 50-day average of $130.39.
• Analysts maintain a “Moderate Buy” consensus, with two Buy ratings and one Hold rating; the average price target is $143.50, including recent increases from Piper Sandler and Keefe, Bruyette & Woods.
• The bank exceeded quarterly earnings expectations, reporting $4.05 in EPS versus a $3.40 estimate, while revenue came in below forecasts at $65.24 million. It also paid a $0.01 quarterly dividend and attracted substantial new institutional investments.

Northeast Bancorp (NASDAQ:NBN - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $126.41 and traded as high as $126.90. Northeast Bancorp shares last traded at $125.99, with a volume of 59,849 shares.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of Northeast Bancorp in a report on Friday, July 31st. Piper Sandler lifted their price objective 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. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Northeast Bancorp from $128.00 to $136.00 and gave the stock a "market perform" rating in a report on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $143.50.

Northeast Bancorp Stock Down 0.5%

The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 9.90 and a beta of 0.60. The company has a quick ratio of 1.32, a current ratio of 1.35 and a debt-to-equity ratio of 1.42. The business has a 50-day moving average price of $130.39 and a 200-day moving average price of $126.41.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The financial services provider reported $4.05 earnings per share for the quarter, beating analysts' consensus estimates of $3.40 by $0.65. The business had revenue of $65.24 million during the quarter, compared to analyst estimates of $67.21 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 disclosed a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 10th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Northeast Bancorp's dividend payout ratio is currently 0.31%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Northeast Bancorp during the 2nd quarter worth approximately $83,160,000. Ampfield Management L.P. acquired a new stake in Northeast Bancorp during the 1st quarter valued at $19,500,000. Boothbay Fund Management LLC purchased a new stake in shares of Northeast Bancorp in the fourth quarter valued at $8,373,000. Bank of New York Mellon Corp purchased a new stake in shares of Northeast Bancorp in the second quarter valued at $4,747,000. Finally, Globeflex Capital L P acquired a new stake in shares of Northeast Bancorp in the second quarter worth $4,683,000.

About Northeast Bancorp

Northeast Bancorp is the bank holding company for Northeast Bank, a full-service financial institution headquartered in Lewiston, Maine. The bank provides deposit accounts, commercial and consumer loans, residential real estate lending, cash management, online banking and other financial services to individuals, families and businesses.

Northeast Bank operates through two primary business areas. Its Community Banking division serves customers in Maine through a network of branches and other delivery channels, while its national SBA Lending division provides financing to small businesses across the United States, including loans guaranteed through the U.S.

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