Northeast Bancorp (NASDAQ:NBN) Given Average Rating of “Strong Buy” by Brokerages

Northeast Bancorp (NASDAQ:NBN) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Brokers have set a 1 year consensus price objective of $27.00 for the company and are anticipating that the company will post $0.57 EPS for the current quarter, according to Zacks. Zacks has also given Northeast Bancorp an industry rank of 158 out of 255 based on the ratings given to related companies.

Separately, ValuEngine lowered Northeast Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, February 21st.

A number of hedge funds and other institutional investors have recently made changes to their positions in NBN. Tower Research Capital LLC TRC boosted its holdings in shares of Northeast Bancorp by 2,045.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,545 shares of the financial services provider’s stock valued at $34,000 after buying an additional 1,473 shares in the last quarter. SG Americas Securities LLC purchased a new position in Northeast Bancorp during the 3rd quarter valued at about $121,000. Barclays PLC increased its holdings in Northeast Bancorp by 122.6% during the 4th quarter. Barclays PLC now owns 8,370 shares of the financial services provider’s stock valued at $184,000 after acquiring an additional 4,610 shares in the last quarter. Rhumbline Advisers increased its holdings in Northeast Bancorp by 8.6% during the 3rd quarter. Rhumbline Advisers now owns 11,036 shares of the financial services provider’s stock valued at $245,000 after acquiring an additional 878 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in Northeast Bancorp during the 3rd quarter valued at about $246,000. 64.13% of the stock is owned by hedge funds and other institutional investors.

Northeast Bancorp stock traded down $1.22 during mid-day trading on Friday, hitting $17.80. The stock had a trading volume of 54,052 shares, compared to its average volume of 14,029. The stock has a 50-day simple moving average of $20.40 and a two-hundred day simple moving average of $21.48. The stock has a market capitalization of $177.46 million, a PE ratio of 11.87 and a beta of 1.13. Northeast Bancorp has a 12 month low of $17.65 and a 12 month high of $27.58.

Northeast Bancorp (NASDAQ:NBN) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter. The business had revenue of $16.88 million for the quarter. Northeast Bancorp had a return on equity of 12.98% and a net margin of 15.58%.

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, February 10th were issued a $0.01 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.04 annualized dividend and a yield of 0.22%. Northeast Bancorp’s dividend payout ratio is presently 1.82%.

About Northeast Bancorp

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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