Northeast Bancorp (NASDAQ:NBN) Short Interest Update

Northeast Bancorp (NASDAQ:NBN) was the target of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 433,815 shares, a growth of 25.0% from the February 26th total of 346,952 shares. Currently, 6.2% of the company’s shares are sold short. Based on an average trading volume of 114,049 shares, the short-interest ratio is currently 3.8 days.

Analyst Upgrades and Downgrades

NBN has been the subject of a number of analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Northeast Bancorp in a report on Monday, December 29th. Piper Sandler assumed coverage on shares of Northeast Bancorp in a report on Monday, March 16th. They issued an “overweight” rating and a $133.00 target price on the stock. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.50.

Institutional Investors Weigh In On Northeast Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue bought a new position in Northeast Bancorp during the 3rd quarter worth about $31,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Northeast Bancorp by 36,700.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 368 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 367 shares in the last quarter. Clearstead Advisors LLC boosted its position in shares of Northeast Bancorp by 194.0% during the fourth 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 period. Quadrant Capital Group LLC grew its holdings in shares of Northeast Bancorp by 1,071.4% during the fourth 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 in the last quarter. Finally, PNC Financial Services Group Inc. bought a new position in shares of Northeast Bancorp during the third quarter worth about $89,000.

Northeast Bancorp Stock Up 1.1%

Shares of NBN traded up $1.19 on Monday, hitting $109.99. The company’s stock had a trading volume of 132,803 shares, compared to its average volume of 116,262. The firm’s fifty day moving average price is $114.11 and its 200-day moving average price is $103.40. Northeast Bancorp has a fifty-two week low of $78.17 and a fifty-two week high of $126.25. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $902.58 million, a price-to-earnings ratio of 10.61 and a beta of 0.58.

Northeast Bancorp (NASDAQ:NBN) last announced its earnings results on Monday, January 26th. The financial services provider reported $2.47 EPS for the quarter, topping the consensus estimate of $2.38 by $0.09. Northeast Bancorp had a net margin of 24.16% and a return on equity of 17.34%. The firm had revenue of $51.77 million for the quarter, compared to the consensus estimate of $54.83 million.

Northeast Bancorp Announces Dividend

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

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.