Northeast Bancorp (NASDAQ:NBN) Upgraded at Wall Street Zen

Northeast Bancorp (NASDAQ:NBN) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Northeast Bancorp Price Performance

NASDAQ NBN opened at $109.41 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.23 and a current ratio of 1.25. The firm’s 50 day moving average price is $103.11 and its 200-day moving average price is $92.98. Northeast Bancorp has a 52-week low of $68.89 and a 52-week high of $113.01. The company has a market cap of $898.26 million, a PE ratio of 10.85 and a beta of 0.63.

Northeast Bancorp (NASDAQ:NBN) last released its quarterly earnings data on Monday, July 28th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.46. Northeast Bancorp had a net margin of 23.77% and a return on equity of 19.19%. The firm had revenue of $62.70 million for the quarter, compared to the consensus estimate of $56.50 million.

Institutional Investors Weigh In On Northeast Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of NBN. Nuveen LLC purchased a new stake in Northeast Bancorp during the first quarter valued at approximately $8,089,000. CSM Advisors LLC purchased a new stake in Northeast Bancorp during the second quarter valued at approximately $6,344,000. Royce & Associates LP lifted its position in Northeast Bancorp by 87.3% during the first quarter. Royce & Associates LP now owns 98,438 shares of the financial services provider’s stock valued at $9,011,000 after acquiring an additional 45,893 shares during the last quarter. GW&K Investment Management LLC lifted its position in Northeast Bancorp by 31.7% during the first quarter. GW&K Investment Management LLC now owns 166,672 shares of the financial services provider’s stock valued at $15,257,000 after acquiring an additional 40,145 shares during the last quarter. Finally, Kennedy Capital Management LLC lifted its position in Northeast Bancorp by 17.6% during the second quarter. Kennedy Capital Management LLC now owns 179,785 shares of the financial services provider’s stock valued at $15,999,000 after acquiring an additional 26,862 shares during the last quarter.

Northeast Bancorp Company Profile

Northeast Bank provides banking services to individual and corporate customers in Maine. The company's deposit products include demand deposit, NOW, money market, savings, certificate of deposit, and individual retirement accounts, as well as checking accounts. Its loan portfolio comprises residential mortgage loans; multi-family and other commercial real estate loans; commercial and industrial loans, such as term loans, lines of credit and equipment, and receivables financing; consumer loans comprising mobile home and overdraft, and deposit-secured loans; and small business administration loans.