Northeast Bancorp (NASDAQ:NBN) Downgraded to “Hold” Rating by Wall Street Zen

Northeast Bancorp (NASDAQ:NBN) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Northeast Bancorp in a report on Tuesday, October 14th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $115.00.

Northeast Bancorp Stock Performance

NASDAQ NBN opened at $97.31 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.23 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $798.92 million, a price-to-earnings ratio of 9.65 and a beta of 0.60. The firm’s 50 day simple moving average is $102.98 and its 200 day simple moving average is $94.07. Northeast Bancorp has a 1 year low of $78.17 and a 1 year high of $113.01.

Northeast Bancorp (NASDAQ:NBN) last posted its quarterly earnings results on Monday, July 28th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.46. Northeast Bancorp had a net margin of 23.77% and a return on equity of 18.56%. The business had revenue of $62.70 million for the quarter, compared to analyst estimates of $56.50 million.

Hedge Funds Weigh In On Northeast Bancorp

Several large investors have recently modified their holdings of the business. Ellsworth Advisors LLC raised its stake in shares of Northeast Bancorp by 1.3% during the first quarter. Ellsworth Advisors LLC now owns 11,608 shares of the financial services provider’s stock valued at $1,063,000 after acquiring an additional 144 shares during the last quarter. Jump Financial LLC raised its position in Northeast Bancorp by 5.2% during the 2nd quarter. Jump Financial LLC now owns 3,129 shares of the financial services provider’s stock worth $278,000 after purchasing an additional 154 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Northeast Bancorp by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,157 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 175 shares during the last quarter. CWM LLC raised its position in Northeast Bancorp by 136.8% during the 1st quarter. CWM LLC now owns 438 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 253 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its position in Northeast Bancorp by 19.4% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 1,717 shares of the financial services provider’s stock worth $153,000 after purchasing an additional 279 shares during the last quarter.

About Northeast Bancorp

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.