Northeast Bancorp (NASDAQ:NBN) Research Coverage Started at Piper Sandler

Piper Sandler began coverage on shares of Northeast Bancorp (NASDAQ:NBN) in a research note released 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 reaffirmed a “buy (b-)” rating on shares of Northeast Bancorp in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $117.50.

Northeast Bancorp Stock Performance

Northeast Bancorp stock opened at $106.69 on Monday. Northeast Bancorp has a twelve month low of $78.17 and a twelve month high of $126.25. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $875.92 million, a P/E ratio of 10.29 and a beta of 0.58. The stock’s 50 day moving average is $114.50 and its 200 day moving average is $103.52.

Northeast Bancorp (NASDAQ:NBN) last announced its quarterly earnings data on Monday, January 26th. The financial services provider reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.09. Northeast Bancorp had a return on equity of 17.73% and a net margin of 24.16%.The business had revenue of $51.77 million during the quarter, compared to analysts’ expectations of $54.83 million.

Northeast Bancorp Dividend Announcement

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

Institutional Trading of Northeast Bancorp

Institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its holdings in shares of Northeast Bancorp by 61.3% in the 1st quarter. AQR Capital Management LLC now owns 9,324 shares of the financial services provider’s stock worth $854,000 after purchasing an additional 3,542 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Northeast Bancorp by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,157 shares of the financial services provider’s stock valued at $381,000 after buying an additional 175 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in Northeast Bancorp by 15.7% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 2,765 shares of the financial services provider’s stock worth $253,000 after buying an additional 375 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Northeast Bancorp by 12.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 68,362 shares of the financial services provider’s stock worth $6,258,000 after buying an additional 7,579 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in Northeast Bancorp in the 1st quarter worth about $411,000.

Northeast Bancorp Company Profile

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.