Northeast Bancorp (NASDAQ:NBN) Receives Average Recommendation of “Strong Buy” from Brokerages

Northeast Bancorp (NASDAQ:NBN) has received an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.

Brokers have set a one year consensus price target of $27.00 for the company and are anticipating that the company will post $0.57 EPS for the current quarter, according to Zacks. Zacks has also given Northeast Bancorp an industry rank of 165 out of 255 based on the ratings given to its competitors.

Separately, ValuEngine downgraded Northeast Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th.

Hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its holdings in shares of Northeast Bancorp by 2,045.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,545 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 1,473 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Northeast Bancorp in the 3rd quarter valued at approximately $121,000. Barclays PLC increased its holdings in shares of Northeast Bancorp by 122.6% in the 4th quarter. Barclays PLC now owns 8,370 shares of the financial services provider’s stock valued at $184,000 after acquiring an additional 4,610 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Northeast Bancorp by 8.6% in the 3rd quarter. Rhumbline Advisers now owns 11,036 shares of the financial services provider’s stock valued at $245,000 after acquiring an additional 878 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in shares of Northeast Bancorp in the 3rd quarter valued at approximately $246,000. Institutional investors own 63.23% of the company’s stock.

Northeast Bancorp stock traded down $0.29 during midday trading on Friday, hitting $20.17. 4,300 shares of the company were exchanged, compared to its average volume of 11,694. The company’s fifty day moving average price is $20.86 and its 200-day moving average price is $21.55. The company has a market cap of $183.96 million, a PE ratio of 13.45 and a beta of 1.13. Northeast Bancorp has a fifty-two week low of $18.75 and a fifty-two week high of $27.58.

Northeast Bancorp (NASDAQ:NBN) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.53 EPS for the quarter. The firm had revenue of $16.88 million for the quarter. Northeast Bancorp had a return on equity of 12.98% and a net margin of 15.58%.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, February 10th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.04 annualized dividend and a yield of 0.20%. Northeast Bancorp’s dividend payout ratio is presently 1.82%.

About Northeast Bancorp

Northeast Bancorp operates as the bank holding company for Northeast Bank that provides banking products and services to individual and corporate customers in the United States. The company's deposit products include noninterest-bearing demand deposit, savings, NOW, and money market accounts, as well as certificate of deposit accounts.

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