Northeast Bancorp (NASDAQ:NBN) Upgraded by ValuEngine to “Hold”

ValuEngine upgraded shares of Northeast Bancorp (NASDAQ:NBN) from a sell rating to a hold rating in a research note released on Wednesday morning, ValuEngine reports.

Shares of NASDAQ NBN traded up $0.19 during midday trading on Wednesday, hitting $20.84. The company’s stock had a trading volume of 500 shares, compared to its average volume of 19,872. The business’s fifty day simple moving average is $21.85 and its two-hundred day simple moving average is $21.71. Northeast Bancorp has a 1 year low of $17.30 and a 1 year high of $27.58. The firm has a market capitalization of $187.85 million, a price-to-earnings ratio of 9.49 and a beta of 1.14.

Northeast Bancorp (NASDAQ:NBN) last announced its earnings results on Monday, October 28th. The financial services provider reported $0.52 earnings per share for the quarter. The firm had revenue of $16.91 million for the quarter. Northeast Bancorp had a net margin of 15.82% and a return on equity of 13.35%.

Several large investors have recently bought and sold shares of NBN. JPMorgan Chase & Co. grew its stake in Northeast Bancorp by 2.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 32,458 shares of the financial services provider’s stock worth $656,000 after purchasing an additional 712 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Northeast Bancorp by 17.3% during the 2nd quarter. Renaissance Technologies LLC now owns 284,745 shares of the financial services provider’s stock worth $7,853,000 after acquiring an additional 41,900 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Northeast Bancorp by 5.3% in the 2nd quarter. Northern Trust Corp now owns 90,654 shares of the financial services provider’s stock valued at $2,500,000 after acquiring an additional 4,603 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Northeast Bancorp by 8.7% in the 2nd quarter. BlackRock Inc. now owns 411,528 shares of the financial services provider’s stock valued at $11,351,000 after acquiring an additional 33,035 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of Northeast Bancorp by 149.4% during the 2nd quarter. Morgan Stanley now owns 26,752 shares of the financial services provider’s stock worth $738,000 after acquiring an additional 16,027 shares in the last quarter. Institutional investors and hedge funds own 64.04% of the company’s stock.

Northeast Bancorp Company Profile

Northeast Bancorp operates as the bank holding company for Northeast Bank that provides banking products and services to individual and corporate customers in the United States. The company's deposit products include noninterest-bearing demand deposit, savings, NOW, and money market accounts, as well as certificate of deposit accounts.

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