Northeast Bancorp (NASDAQ:NBN) Share Price Crosses Below Fifty Day Moving Average – What’s Next?

Northeast Bancorp (NASDAQ:NBN) crossed below its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $128.74 and traded as low as $127.17. Northeast Bancorp shares last traded at $128.32, with a volume of 116,182 shares.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NBN. Keefe, Bruyette & Woods raised their price objective on Northeast Bancorp from $128.00 to $136.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Northeast Bancorp in a research note on Thursday, October 29th. Finally, Piper Sandler lifted their price target on shares of Northeast Bancorp from $145.00 to $151.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.50.

Northeast Bancorp Stock Performance

The firm’s 50-day moving average is $128.61 and its 200 day moving average is $124.40. The stock has a market cap of $1.04 billion, a PE ratio of 9.46 and a beta of 0.64. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.32 and a current ratio of 1.35.

Northeast Bancorp (NASDAQ:NBN) last issued its quarterly earnings results on Monday, October 26th. The financial services provider reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.01. The firm had revenue of $64.27 million during the quarter, compared to analysts’ expectations of $66.77 million. Northeast Bancorp had a net margin of 28.34% and a return on equity of 20.02%.

Northeast Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Monday, November 9th will be paid a dividend of $0.01 per share. The ex-dividend date is Monday, November 9th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Northeast Bancorp’s dividend payout ratio is 0.30%.

Hedge Funds Weigh In On Northeast Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its stake in Northeast Bancorp by 105.6% during the 2nd quarter. GAMMA Investing LLC now owns 185 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 95 shares during the last quarter. Fortitude Family Office LLC raised its stake in shares of Northeast Bancorp by 368.1% during the third quarter. Fortitude Family Office LLC now owns 323 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 254 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Northeast Bancorp during the second quarter worth $72,000. Nisa Investment Advisors LLC lifted its holdings in shares of Northeast Bancorp by 160.7% during the third quarter. Nisa Investment Advisors LLC now owns 743 shares of the financial services provider’s stock worth $92,000 after purchasing an additional 458 shares during the period. Finally, Royal Bank of Canada lifted its holdings in shares of Northeast Bancorp by 303.5% during the first quarter. Royal Bank of Canada now owns 1,251 shares of the financial services provider’s stock worth $141,000 after purchasing an additional 941 shares during the period.

About Northeast Bancorp

Northeast Bancorp is a bank holding company headquartered in Lewiston, Maine. Through its subsidiary, Northeast Bank, it provides banking services to businesses and individuals, including deposit accounts, commercial and consumer loans, residential mortgage lending, and cash management services. The bank serves customers through branches in Maine and also operates a commercial lending business that works with borrowers beyond the state. Its lending activities include financing for businesses and commercial real estate, while its banking services include digital and online banking options.