Piper Sandler reiterated their overweight rating on shares of Northeast Bank (NASDAQ:NBN – Free Report) in a research report sent to investors on Wednesday, Marketbeat.com reports. They currently have a $80.00 target price on the financial services provider’s stock.
Northeast Bank Stock Up 3.0 %
NASDAQ NBN opened at $69.53 on Wednesday. Northeast Bank has a one year low of $42.48 and a one year high of $74.85. The company has a 50-day simple moving average of $67.46 and a 200-day simple moving average of $59.33.
Northeast Bank (NASDAQ:NBN – Get Free Report) last issued its earnings results on Monday, July 29th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter. The business had revenue of $68.66 million during the quarter. During the same quarter in the prior year, the company earned $1.61 earnings per share.
Northeast Bank Dividend Announcement
Institutional Investors Weigh In On Northeast Bank
A number of hedge funds have recently added to or reduced their stakes in NBN. Assenagon Asset Management S.A. bought a new position in shares of Northeast Bank during the second quarter worth about $373,000. Janney Montgomery Scott LLC grew its position in Northeast Bank by 10.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 16,501 shares of the financial services provider’s stock worth $911,000 after purchasing an additional 1,619 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Northeast Bank by 1.7% in the first quarter. Vanguard Group Inc. now owns 350,434 shares of the financial services provider’s stock valued at $19,393,000 after purchasing an additional 5,801 shares during the period. Wellington Management Group LLP raised its holdings in shares of Northeast Bank by 52.0% during the fourth quarter. Wellington Management Group LLP now owns 209,649 shares of the financial services provider’s stock valued at $11,571,000 after buying an additional 71,724 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Northeast Bank by 5.8% during the first quarter. Russell Investments Group Ltd. now owns 63,165 shares of the financial services provider’s stock valued at $3,496,000 after buying an additional 3,459 shares during the last quarter.
About Northeast Bank
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.
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