Northeast Bancorp (NASDAQ:NBN) Given New $151.00 Price Target at Piper Sandler

Northeast Bancorp (NASDAQ:NBN) had its price objective raised by equities research analysts at Piper Sandler from $145.00 to $151.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price target would suggest a potential upside of 15.71% from the company’s previous close.

A number of other equities analysts have also weighed in on the company. Wall Street Zen lowered Northeast Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Northeast Bancorp in a research note on Friday. Finally, Keefe, Bruyette & Woods raised their price target on Northeast Bancorp from $128.00 to $136.00 and gave the company a “market perform” rating in a report on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $143.50.

Northeast Bancorp Stock Up 5.1%

Shares of Northeast Bancorp stock traded up $6.33 during trading on Monday, hitting $130.50. 51,355 shares of the stock were exchanged, compared to its average volume of 125,240. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.13 and a quick ratio of 1.10. Northeast Bancorp has a 12-month low of $80.75 and a 12-month high of $142.31. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 10.24 and a beta of 0.58. The firm’s 50-day moving average price is $128.08 and its 200 day moving average price is $120.89.

Northeast Bancorp (NASDAQ:NBN) last issued its quarterly earnings data on Monday, July 27th. The financial services provider reported $4.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.65. Northeast Bancorp had a return on equity of 19.94% and a net margin of 27.91%.The firm had revenue of $65.24 million during the quarter, compared to the consensus estimate of $67.21 million.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC lifted its position in shares of Northeast Bancorp by 61.3% during the 1st quarter. AQR Capital Management LLC now owns 9,324 shares of the financial services provider’s stock valued at $854,000 after acquiring an additional 3,542 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in 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 acquiring an additional 175 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its stake in shares of Northeast Bancorp by 15.7% during the first quarter. Dynamic Technology Lab Private Ltd now owns 2,765 shares of the financial services provider’s stock valued at $253,000 after buying an additional 375 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Northeast Bancorp by 12.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 68,362 shares of the financial services provider’s stock valued at $6,258,000 after purchasing an additional 7,579 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of Northeast Bancorp during the first quarter valued at approximately $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.