Northeast Bancorp (NASDAQ:NBN) Shares Gap Up – Time to Buy?

Northeast Bancorp (NASDAQ:NBN) gapped up prior to trading on Friday . The stock had previously closed at $100.72, but opened at $108.99. Northeast Bancorp shares last traded at $109.45, with a volume of 21,502 shares traded.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Northeast Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northeast Bancorp in a report on Monday, December 15th. Finally, Keefe, Bruyette & Woods lowered their price objective on Northeast Bancorp from $107.00 to $102.00 and set a “market perform” rating for the company in a research report on Thursday, October 30th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $102.00.

Northeast Bancorp Price Performance

The company has a market cap of $879.62 million, a PE ratio of 10.07 and a beta of 0.55. The firm’s 50-day moving average is $91.14 and its 200-day moving average is $95.56. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.65.

Northeast Bancorp (NASDAQ:NBN) last posted its earnings results on Tuesday, October 28th. The financial services provider reported $2.67 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.01). The firm had revenue of $52.88 million for the quarter, compared to analysts’ expectations of $57.43 million. Northeast Bancorp had a return on equity of 18.52% and a net margin of 24.36%.

Northeast Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th were issued a $0.01 dividend. The ex-dividend date was Monday, November 10th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Northeast Bancorp’s dividend payout ratio is 0.38%.

Institutional Trading of Northeast Bancorp

Hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue bought a new position in shares of Northeast Bancorp in the 3rd quarter worth about $31,000. PNC Financial Services Group Inc. purchased a new stake in Northeast Bancorp in the third quarter worth about $89,000. Police & Firemen s Retirement System of New Jersey increased its stake in shares of Northeast Bancorp by 19.4% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 1,717 shares of the financial services provider’s stock valued at $153,000 after purchasing an additional 279 shares in the last quarter. Quantbot Technologies LP lifted its holdings in shares of Northeast Bancorp by 110.9% during the second quarter. Quantbot Technologies LP now owns 2,255 shares of the financial services provider’s stock valued at $201,000 after purchasing an additional 1,186 shares during the last quarter. Finally, EP Wealth Advisors LLC bought a new stake in shares of Northeast Bancorp in the 2nd quarter worth approximately $202,000.

About Northeast Bancorp

Northeast Bancorp is a Maine-based bank holding company and the parent of Northeast Bank, a state‐chartered commercial bank headquartered in Lewiston, Maine. Through its subsidiary, the company provides a variety of financial services, including personal checking and savings accounts, residential mortgage lending, small business and commercial loans, treasury management and private banking services. The bank operates a branch network spanning central and southern Maine, serving individuals, families and local businesses across the region.

Founded in 1872 as Androscoggin County Savings Bank, the institution has evolved through mutual and stock conversions, adopting the Northeast Bank name in 2001 and forming Northeast Bancorp as its mutual holding company in 2013.