Northeast Bancorp (NASDAQ:NBN) Sees Large Volume Increase – Time to Buy?

Northeast Bancorp (NASDAQ:NBN) shares saw unusually-strong trading volume on Thursday . 86,152 shares were traded during trading, a decline of 29% from the previous session’s volume of 121,106 shares.The stock last traded at $125.7330 and had previously closed at $124.66.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NBN. Weiss Ratings restated a “buy (b)” rating on shares of Northeast Bancorp in a report on Monday, May 4th. Piper Sandler assumed coverage on Northeast Bancorp in a report on Monday, March 16th. They issued an “overweight” rating and a $133.00 target price on the stock. Keefe, Bruyette & Woods upped their target price on Northeast Bancorp from $120.00 to $128.00 and gave the company a “market perform” rating in a report on Wednesday, April 29th. Finally, Wall Street Zen cut Northeast Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Northeast Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.50.

Northeast Bancorp Price Performance

The firm’s fifty day simple moving average is $123.40 and its 200-day simple moving average is $114.79. The company has a market cap of $1.04 billion, a PE ratio of 10.84 and a beta of 0.58. The company has a quick ratio of 1.10, a current ratio of 1.13 and a debt-to-equity ratio of 0.03.

Northeast Bancorp (NASDAQ:NBN) last issued its quarterly earnings data on Monday, April 27th. The financial services provider reported $3.53 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.53. The business had revenue of $66.62 million during the quarter, compared to analysts’ expectations of $61.49 million. Northeast Bancorp had a net margin of 25.96% and a return on equity of 18.63%.

Northeast Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date was Tuesday, May 12th. Northeast Bancorp’s dividend payout ratio is presently 0.34%.

Institutional Investors Weigh In On Northeast Bancorp

Hedge funds have recently modified their holdings of the stock. Earnest Partners LLC acquired a new position in Northeast Bancorp during the third quarter worth approximately $67,225,000. Vanguard Group Inc. boosted its holdings in shares of Northeast Bancorp by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 434,490 shares of the financial services provider’s stock valued at $45,157,000 after purchasing an additional 9,926 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Northeast Bancorp by 3.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 333,281 shares of the financial services provider’s stock valued at $37,449,000 after buying an additional 11,168 shares during the period. Boston Partners grew its stake in shares of Northeast Bancorp by 0.4% during the 3rd quarter. Boston Partners now owns 271,711 shares of the financial services provider’s stock valued at $27,018,000 after buying an additional 1,029 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Northeast Bancorp by 8.5% during the 3rd quarter. American Century Companies Inc. now owns 220,712 shares of the financial services provider’s stock worth $22,107,000 after buying an additional 17,344 shares during the last quarter.

About Northeast Bancorp

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.