Piper Sandler Comments on Northeast Bancorp’s Q1 2021 Earnings (NASDAQ:NBN)

Northeast Bancorp (NASDAQ:NBN) – Equities researchers at Piper Sandler boosted their Q1 2021 EPS estimates for shares of Northeast Bancorp in a report released on Friday, June 26th. Piper Sandler analyst A. Twerdahl now forecasts that the financial services provider will post earnings per share of $0.61 for the quarter, up from their previous estimate of $0.57. Piper Sandler also issued estimates for Northeast Bancorp’s Q2 2021 earnings at $0.70 EPS, Q3 2021 earnings at $0.66 EPS, Q4 2021 earnings at $0.70 EPS, Q1 2022 earnings at $0.74 EPS and Q2 2022 earnings at $0.82 EPS.

Separately, ValuEngine cut Northeast Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd.

Shares of Northeast Bancorp stock opened at $16.68 on Monday. The company has a market capitalization of $142.92 million, a P/E ratio of 14.02 and a beta of 1.72. The stock has a fifty day simple moving average of $16.62 and a 200 day simple moving average of $17.35. Northeast Bancorp has a 12-month low of $6.20 and a 12-month high of $23.98.

Northeast Bancorp (NASDAQ:NBN) last issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.18). Northeast Bancorp had a net margin of 12.27% and a return on equity of 12.98%. The business had revenue of $17.18 million during the quarter, compared to analyst estimates of $17.20 million.

Large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its stake in shares of Northeast Bancorp by 13.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,655 shares of the financial services provider’s stock valued at $433,000 after buying an additional 2,330 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Northeast Bancorp by 2,045.8% during 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 buying an additional 1,473 shares during the period. Bank of Montreal Can raised its position in Northeast Bancorp by 1,475.3% in the fourth quarter. Bank of Montreal Can now owns 30,954 shares of the financial services provider’s stock valued at $680,000 after purchasing an additional 28,989 shares during the period. Barclays PLC raised its position in Northeast Bancorp by 122.6% in the fourth quarter. Barclays PLC now owns 8,370 shares of the financial services provider’s stock valued at $184,000 after purchasing an additional 4,610 shares during the period. Finally, Renaissance Technologies LLC raised its position in Northeast Bancorp by 7.5% in the fourth quarter. Renaissance Technologies LLC now owns 313,745 shares of the financial services provider’s stock valued at $6,899,000 after purchasing an additional 21,901 shares during the period. 59.39% of the stock is owned by institutional investors and hedge funds.

Northeast Bancorp Company Profile

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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Earnings History and Estimates for Northeast Bancorp (NASDAQ:NBN)

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