Northeast Bancorp (NASDAQ:NBN) Upgraded to “Hold” at ValuEngine

ValuEngine upgraded shares of Northeast Bancorp (NASDAQ:NBN) from a sell rating to a hold rating in a research report released on Tuesday morning, ValuEngine reports.

Shares of NBN opened at $21.80 on Tuesday. Northeast Bancorp has a one year low of $15.54 and a one year high of $27.58. The company has a market cap of $189.12 million, a P/E ratio of 9.69 and a beta of 1.14. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a 50 day simple moving average of $21.65 and a two-hundred day simple moving average of $21.26.

Northeast Bancorp (NASDAQ:NBN) last announced its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.59 EPS for the quarter. Northeast Bancorp had a net margin of 15.79% and a return on equity of 13.41%. The business had revenue of $18.44 million during the quarter.

Large investors have recently made changes to their positions in the company. Meeder Asset Management Inc. increased its holdings in shares of Northeast Bancorp by 322.4% during the second quarter. Meeder Asset Management Inc. now owns 3,764 shares of the financial services provider’s stock worth $104,000 after buying an additional 2,873 shares in the last quarter. Castine Capital Management LLC acquired a new stake in Northeast Bancorp in the first quarter valued at $13,353,000. Russell Investments Group Ltd. increased its holdings in Northeast Bancorp by 5.4% in the second quarter. Russell Investments Group Ltd. now owns 233,043 shares of the financial services provider’s stock valued at $6,399,000 after purchasing an additional 12,017 shares during the period. Acadian Asset Management LLC increased its holdings in Northeast Bancorp by 63.8% in the second quarter. Acadian Asset Management LLC now owns 49,126 shares of the financial services provider’s stock valued at $1,355,000 after purchasing an additional 19,134 shares during the period. Finally, BNP Paribas Arbitrage SA increased its holdings in Northeast Bancorp by 734.9% in the first quarter. BNP Paribas Arbitrage SA now owns 1,603 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 1,411 shares during the period. Institutional investors own 63.73% of the company’s stock.

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.

Recommended Story: Consumer Price Index (CPI)

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Northeast Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northeast Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.