Northeast Bank (NASDAQ:NBN) Stock Price Crosses Above 200 Day Moving Average of $42.00

Northeast Bank (NASDAQ:NBN – Get Rating)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $42.00 and traded as high as $44.76. Northeast Bank shares last traded at $44.21, with a volume of 22,123 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NBN shares. Piper Sandler lifted their price objective on shares of Northeast Bank from $46.00 to $60.00 in a research note on Friday, December 9th. StockNews.com upgraded shares of Northeast Bank from a “hold” rating to a “buy” rating in a research note on Wednesday, December 7th.

Northeast Bank Stock Performance

The firm has a market cap of $368.71 million, a P/E ratio of 8.23 and a beta of 1.27. The stock’s 50 day simple moving average is $43.88 and its 200 day simple moving average is $42.00.

Northeast Bank (NASDAQ:NBN – Get Rating) last announced its quarterly earnings results on Wednesday, January 25th. The financial services provider reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.27. The business had revenue of $30.05 million for the quarter, compared to the consensus estimate of $27.25 million.

Northeast Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 23rd. Shareholders of record on Thursday, February 9th were paid a dividend of $0.01 per share. The ex-dividend date was Wednesday, February 8th. This represents a $0.04 dividend on an annualized basis and a yield of 0.09%. Northeast Bank’s dividend payout ratio (DPR) is presently 0.74%.

Hedge Funds Weigh In On Northeast Bank

A number of hedge funds have recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in Northeast Bank by 3.5% during the 3rd quarter. Royal Bank of Canada now owns 7,179 shares of the financial services provider’s stock worth $263,000 after acquiring an additional 241 shares during the last quarter. Boston Partners boosted its holdings in Northeast Bank by 1.1% during the 3rd quarter. Boston Partners now owns 24,576 shares of the financial services provider’s stock worth $901,000 after acquiring an additional 270 shares during the last quarter. BNP Paribas Arbitrage SNC boosted its holdings in Northeast Bank by 16.6% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 2,053 shares of the financial services provider’s stock worth $75,000 after acquiring an additional 292 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Northeast Bank by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 16,933 shares of the financial services provider’s stock worth $713,000 after acquiring an additional 386 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in Northeast Bank by 7.7% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 6,390 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 455 shares during the last quarter. 54.68% of the stock is owned by hedge funds and other institutional investors.

About Northeast Bank

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Northeast Bank (Maine) engages in offering personal and business banking services. The company provides commercial loans nationally secured by all types of real estate, equipment or other business assets, including government guaranteed loans. It also provides a full range of business banking services, from banking accounts to financing options to cash management.