Northeast Bank (NASDAQ:NBN) Research Coverage Started at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods began coverage on shares of Northeast Bank (NASDAQ:NBN) in a research note issued to investors on Thursday, MarketBeat reports. The firm issued a market perform rating and a $102.00 price objective on the financial services provider’s stock.

Separately, Piper Sandler reissued an “overweight” rating and issued a $80.00 target price on shares of Northeast Bank in a report on Wednesday, September 11th.

Northeast Bank Trading Up 3.8 %

Shares of NASDAQ:NBN opened at $101.40 on Thursday. The business’s fifty day moving average price is $85.43 and its two-hundred day moving average price is $70.53. Northeast Bank has a fifty-two week low of $49.07 and a fifty-two week high of $105.44.

Northeast Bank (NASDAQ:NBN) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.34. The firm had revenue of $73.97 million for the quarter, compared to analyst estimates of $38.20 million. During the same quarter last year, the business earned $2.01 EPS.

Northeast Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be given a dividend of $0.01 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.04 annualized dividend and a yield of 0.04%. Northeast Bank’s dividend payout ratio (DPR) is 0.52%.

Institutional Investors Weigh In On Northeast Bank

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in shares of Northeast Bank by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 422,573 shares of the financial services provider’s stock valued at $25,716,000 after buying an additional 2,093 shares during the period. Vanguard Group Inc. increased its position in Northeast Bank by 1.7% in the first quarter. Vanguard Group Inc. now owns 350,434 shares of the financial services provider’s stock worth $19,393,000 after purchasing an additional 5,801 shares during the period. Geode Capital Management LLC increased its position in Northeast Bank by 0.5% in the third quarter. Geode Capital Management LLC now owns 153,470 shares of the financial services provider’s stock worth $11,840,000 after purchasing an additional 801 shares during the period. State Street Corp raised its holdings in Northeast Bank by 6.3% during the 3rd quarter. State Street Corp now owns 144,591 shares of the financial services provider’s stock worth $11,152,000 after purchasing an additional 8,518 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Northeast Bank by 18.7% during the 2nd quarter. American Century Companies Inc. now owns 126,748 shares of the financial services provider’s stock valued at $7,714,000 after purchasing an additional 19,947 shares during the period.

Northeast Bank Company Profile

Northeast Bank provides banking services to individual and corporate customers in Maine. The company's deposit products include demand deposit, NOW, money market, savings, certificate of deposit, and individual retirement accounts, as well as checking accounts. Its loan portfolio comprises residential mortgage loans; multi-family and other commercial real estate loans; commercial and industrial loans, such as term loans, lines of credit and equipment, and receivables financing; consumer loans comprising mobile home and overdraft, and deposit-secured loans; and small business administration loans.