Northeast Bancorp (NASDAQ:NBN) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Northeast Bancorp (NASDAQ:NBN) released its quarterly earnings data on Monday. The financial services provider reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.01, Zacks reports. Northeast Bancorp had a return on equity of 19.35% and a net margin of 27.91%.

Northeast Bancorp Price Performance

NBN traded up $2.58 during trading hours on Monday, hitting $131.32. The company’s stock had a trading volume of 101,054 shares, compared to its average volume of 119,221. The business’s 50-day moving average price is $128.82 and its 200-day moving average price is $127.52. 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 $1.08 billion, a price-to-earnings ratio of 10.32 and a beta of 0.60. The company has a current ratio of 1.35, a quick ratio of 1.32 and a debt-to-equity ratio of 1.42.

Analyst Upgrades and Downgrades

NBN has been the subject of several research analyst reports. Piper Sandler increased their target price on Northeast Bancorp from $145.00 to $151.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Northeast Bancorp in a report on Friday, July 31st. Finally, Keefe, Bruyette & Woods upped their price target on Northeast Bancorp from $128.00 to $136.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $143.50.

Northeast Bancorp Company Profile

Northeast Bancorp is the bank holding company for Northeast Bank, a community-focused financial institution headquartered in Lewiston, Maine. Founded in 1872, Northeast Bank provides banking and lending services to individuals, families, businesses and nonprofit organizations.

The bank offers deposit products such as checking, savings and money market accounts, certificates of deposit and business deposit services. Its lending activities include commercial real estate, commercial and industrial, residential real estate, consumer and municipal loans, as well as construction and other business financing.