Northeast Bancorp (NASDAQ:NBN) Now Covered by Piper Sandler

Piper Sandler began coverage on shares of Northeast Bancorp (NASDAQ:NBN) in a report issued on Monday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $133.00 target price on the financial services provider’s stock.

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Northeast Bancorp in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Northeast Bancorp presently has an average rating of “Moderate Buy” and an average price target of $117.50.

Northeast Bancorp Stock Up 0.5%

NBN stock opened at $109.69 on Monday. The stock has a 50-day simple moving average of $114.48 and a two-hundred day simple moving average of $103.51. Northeast Bancorp has a twelve month low of $78.17 and a twelve month high of $126.25. The firm has a market capitalization of $900.55 million, a PE ratio of 10.58 and a beta of 0.58. 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 Monday, January 26th. The financial services provider reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.09. The business had revenue of $51.77 million for the quarter, compared to analyst estimates of $54.83 million. Northeast Bancorp had a net margin of 24.16% and a return on equity of 17.73%.

Northeast Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Northeast Bancorp’s payout ratio is presently 0.39%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NBN. State of Alaska Department of Revenue bought a new stake in Northeast Bancorp during the third quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd grew its stake in Northeast Bancorp by 36,700.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 368 shares of the financial services provider’s stock worth $38,000 after buying an additional 367 shares in the last quarter. Clearstead Advisors LLC increased its holdings in shares of Northeast Bancorp by 194.0% in the 4th quarter. Clearstead Advisors LLC now owns 741 shares of the financial services provider’s stock worth $77,000 after buying an additional 489 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Northeast Bancorp by 1,071.4% in the 4th quarter. Quadrant Capital Group LLC now owns 820 shares of the financial services provider’s stock worth $85,000 after buying an additional 750 shares during the last quarter. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of Northeast Bancorp during the 3rd quarter valued at $89,000.

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.