Northeast Bancorp (NBN) Releases Earnings Results, Beats Estimates By $0.05 EPS
Northeast Bancorp (NASDAQ:NBN) issued its quarterly earnings data on Tuesday. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05, reports. Northeast Bancorp had a net margin of 18.25% and a return on equity of 10.55%.
Shares of Northeast Bancorp (NBN) traded up 0.75% on Tuesday, hitting $26.95. 66,735 shares of the stock were exchanged. Northeast Bancorp has a 52-week low of $10.85 and a 52-week high of $29.95. The company’s 50 day moving average is $25.32 and its 200-day moving average is $21.07. The stock has a market cap of $238.35 million, a PE ratio of 19.53 and a beta of 0.33.
Hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company purchased a new stake in shares of Northeast Bancorp during the second quarter worth approximately $149,000. California State Teachers Retirement System purchased a new stake in shares of Northeast Bancorp during the second quarter worth approximately $263,000. Finally, State Street Corp increased its stake in shares of Northeast Bancorp by 742.2% during the second quarter. State Street Corp now owns 84,843 shares of the financial services provider’s stock worth $1,727,000 after buying an additional 74,769 shares during the period. Hedge funds and other institutional investors own 54.95% of the company’s stock.
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About Northeast Bancorp
Northeast Bancorp is a bank holding company. The Company’s banking subsidiary is Northeast Bank (the Bank). The Company provides a range of banking services to individual and corporate customers throughout south-central and western Maine and conducts loan purchasing and origination activities nationwide through its subsidiary.
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