Northeast Bancorp (NASDAQ:NBN) Stock Crosses Above 200 Day Moving Average – Here’s Why

Northeast Bancorp (NASDAQ:NBN) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $122.46 and traded as high as $135.60. Northeast Bancorp shares last traded at $134.01, with a volume of 92,629 shares.

Analysts Set New Price Targets

NBN has been the subject of several analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northeast Bancorp in a research note on Friday, July 31st. Keefe, Bruyette & Woods increased their target price on shares of Northeast Bancorp from $128.00 to $136.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 28th. Wall Street Zen lowered Northeast Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, May 24th. Finally, Piper Sandler boosted their price target on Northeast Bancorp from $145.00 to $151.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $143.50.

Northeast Bancorp Stock Down 3.3%

The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 10.26 and a beta of 0.58. The firm has a 50-day moving average of $130.89 and a two-hundred day moving average of $122.60.

Northeast Bancorp (NASDAQ:NBN) last released its earnings results on Monday, July 27th. The financial services provider reported $4.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.40 by $0.65. The firm had revenue of $65.24 million for the quarter, compared to analyst estimates of $67.21 million. Northeast Bancorp had a return on equity of 19.94% and a net margin of 27.91%.

Northeast Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 10th will be paid a $0.01 dividend. The ex-dividend date is Monday, August 10th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Northeast Bancorp’s dividend payout ratio (DPR) is presently 0.31%.

Hedge Funds Weigh In On Northeast Bancorp

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake 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 purchasing an additional 95 shares during the period. Arcus Capital Partners LLC grew its stake in shares of Northeast Bancorp by 2.1% in the 1st quarter. Arcus Capital Partners LLC now owns 4,868 shares of the financial services provider’s stock valued at $547,000 after purchasing an additional 99 shares during the period. Jump Financial LLC grew its stake in shares of Northeast Bancorp by 5.2% in the 2nd quarter. Jump Financial LLC now owns 3,129 shares of the financial services provider’s stock valued at $278,000 after purchasing an additional 154 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Northeast Bancorp by 4.4% in 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. Finally, Cetera Investment Advisers raised its holdings in shares of Northeast Bancorp by 8.0% in the 1st quarter. Cetera Investment Advisers now owns 2,475 shares of the financial services provider’s stock worth $278,000 after buying an additional 184 shares in the last quarter.

Northeast Bancorp Company Profile

Northeast Bancorp is a Maine-based bank holding company and the parent of Northeast Bank, a state‐chartered commercial bank headquartered in Lewiston, Maine. Through its subsidiary, the company provides a variety of financial services, including personal checking and savings accounts, residential mortgage lending, small business and commercial loans, treasury management and private banking services. The bank operates a branch network spanning central and southern Maine, serving individuals, families and local businesses across the region.

Founded in 1872 as Androscoggin County Savings Bank, the institution has evolved through mutual and stock conversions, adopting the Northeast Bank name in 2001 and forming Northeast Bancorp as its mutual holding company in 2013.