Keefe, Bruyette & Woods Begins Coverage on Northeast Bank (NASDAQ:NBN)

Research analysts at Keefe, Bruyette & Woods initiated coverage on shares of Northeast Bank (NASDAQ:NBN) in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage set a “market perform” rating and a $102.00 price target on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 0.59% from the stock’s previous close.

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

Northeast Bank Stock Performance

NASDAQ:NBN opened at $101.40 on Thursday. The company’s 50-day simple moving average is $84.79 and its 200-day simple moving average is $70.21. 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 for the quarter, beating the consensus estimate of $1.77 by $0.34. The firm had revenue of $73.97 million during the quarter, compared to analyst estimates of $38.20 million. During the same quarter last year, the business earned $2.01 earnings per share.

Institutional Investors Weigh In On Northeast Bank

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP purchased a new position in shares of Northeast Bank in the third quarter worth about $76,000. BNP Paribas Financial Markets raised its position in Northeast Bank by 36.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,647 shares of the financial services provider’s stock worth $127,000 after buying an additional 442 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Northeast Bank during the 3rd quarter valued at approximately $185,000. Enterprise Bank & Trust Co purchased a new stake in shares of Northeast Bank in the 2nd quarter valued at $201,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Northeast Bank in the second quarter worth $212,000.

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.