Northeast Bancorp (NASDAQ:NBN) Stock Crosses Below 50-Day Moving Average - Should You Sell?

Key Points

• Northeast Bancorp shares slipped below their 50-day moving average, trading as low as $127.17 versus the $128.74 average, and last changed hands at $128.32.
• Analysts maintain a Moderate Buy consensus with an average price target of $143.50; recent targets range from $136 to $151.
• The company narrowly beat quarterly EPS expectations ($3.42 versus $3.41), but revenue of $64.27 million fell short of the $66.77 million consensus.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) passed below its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $128.74 and traded as low as $127.17. Northeast Bancorp shares last traded at $128.32, with a volume of 116,182 shares.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Northeast Bancorp from $145.00 to $151.00 and gave the company an "overweight" rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods increased their price target on Northeast Bancorp from $128.00 to $136.00 and gave the company a "market perform" rating in a report on Tuesday, July 28th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Northeast Bancorp in a report on Thursday, October 29th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Northeast Bancorp presently has a consensus rating of "Moderate Buy" and an average target price of $143.50.

Northeast Bancorp Price Performance

The company has a market cap of $1.05 billion, a P/E ratio of 9.53 and a beta of 0.64. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.32 and a current ratio of 1.35. The firm's fifty day moving average is $128.74 and its two-hundred day moving average is $124.25.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) last posted its quarterly earnings results on Monday, October 26th. The financial services provider reported $3.42 EPS for the quarter, beating analysts' consensus estimates of $3.41 by $0.01. Northeast Bancorp had a return on equity of 20.02% and a net margin of 28.34%. The business had revenue of $64.27 million for the quarter, compared to analysts' expectations of $66.77 million.

Northeast Bancorp Dividend Announcement

The firm 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 dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, November 9th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Northeast Bancorp's dividend payout ratio is presently 0.30%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NBN. BlackRock Inc. bought a new stake in Northeast Bancorp during the 2nd quarter valued at $83,160,000. Boston Partners grew its holdings in shares of Northeast Bancorp by 19.7% during the third quarter. Boston Partners now owns 377,440 shares of the financial services provider's stock valued at $46,768,000 after buying an additional 62,184 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Northeast Bancorp by 3.5% in the first quarter. Dimensional Fund Advisors LP now owns 333,281 shares of the financial services provider's stock worth $37,449,000 after purchasing an additional 11,168 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of Northeast Bancorp by 20.2% in the 3rd quarter. Royce & Associates LP now owns 122,458 shares of the financial services provider's stock valued at $15,143,000 after acquiring an additional 20,554 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Northeast Bancorp by 161.6% in the first quarter. Bank of America Corp DE now owns 39,929 shares of the financial services provider's stock worth $4,487,000 after acquiring an additional 24,668 shares during the period.

About Northeast Bancorp

Northeast Bancorp is a bank holding company headquartered in Lewiston, Maine. Through its subsidiary, Northeast Bank, it provides banking services to businesses and individuals, including deposit accounts, commercial and consumer loans, residential mortgage lending, and cash management services. The bank serves customers through branches in Maine and also operates a commercial lending business that works with borrowers beyond the state. Its lending activities include financing for businesses and commercial real estate, while its banking services include digital and online banking options.

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