Northeast Bancorp (NASDAQ:NBN) Stock Price Breaks Below 50 Day Moving Average – Time to Sell?

Northeast Bancorp (NASDAQ:NBN)’s share price crossed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $128.54 and traded as low as $127.62. Northeast Bancorp shares last traded at $128.04, with a volume of 88,495 shares changing hands.

Wall Street Analysts Forecast Growth

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

Northeast Bancorp Trading Down 1.7%

The company has a quick ratio of 1.32, a current ratio of 1.35 and a debt-to-equity ratio of 1.42. The stock’s 50 day moving average is $128.54 and its 200-day moving average is $123.84. The company has a market cap of $1.05 billion, a PE ratio of 9.51 and a beta of 0.64.

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

Northeast Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Monday, November 9th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Monday, November 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Northeast Bancorp’s dividend payout ratio (DPR) is presently 0.30%.

Institutional Investors Weigh In On Northeast Bancorp

Several large investors have recently added to or reduced their stakes in NBN. BlackRock Inc. bought a new stake in Northeast Bancorp in the second quarter worth $83,160,000. Dimensional Fund Advisors LP boosted its stake in Northeast Bancorp by 3.5% during the first quarter. Dimensional Fund Advisors LP now owns 333,281 shares of the financial services provider’s stock worth $37,449,000 after buying an additional 11,168 shares during the period. Bank of America Corp DE increased its position in Northeast Bancorp by 161.6% during the first quarter. Bank of America Corp DE now owns 39,929 shares of the financial services provider’s stock valued at $4,487,000 after acquiring an additional 24,668 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Northeast Bancorp during the second quarter valued at $4,747,000. Finally, Globeflex Capital L P bought a new position in Northeast Bancorp during the second quarter valued at $4,683,000.

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.