Northeast Bank Inc (NASDAQ:NBN – Get Rating) released its quarterly earnings data on Monday. The financial services provider reported earnings per share of $1.35 for the quarter, beating the consensus estimate of $1.15 by $0.20, Fidelity Earnings reports. In the same quarter last year, the company posted EPS of $2.54.
Northeast Shore Price Performance
NBN opened at $39.68 on Tuesday. Northeast Bank has a one-year low of $29.08 and a one-year high of $41.05. The company’s 50-day simple moving average is $37.19 and its 200-day simple moving average is $36.49. The stock has a market capitalization of $330.93 million, a P/E ratio of 6.09 and a beta of 1.32.
Analyst upgrades and downgrades
Separately, StockNews.com downgraded shares of Northeast Bank from a “buy” rating to a “hold” rating in a Monday, May 23 report.
Northeast Bank Institutional Trading
Hedge funds have recently changed their stock holdings. UBS Group AG increased its stake in Northeast Bank by 141.5% in the first quarter. UBS Group AG now owns 1,099 shares of the financial services provider valued at $37,000 after acquiring an additional 644 shares in the last quarter. Lazard Asset Management LLC bought a new position in Northeast Bank in the first quarter worth about $27,000. Bank of New York Mellon Corp increased its stake in Northeast Bank by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 37,073 shares of the financial services provider valued at $1,265,000 after acquiring 1,295 additional shares in the last quarter. State Street Corp increased its stake in Northeast Bank by 5.0% in the first quarter. State Street Corp now owns 27,481 shares of the financial services provider valued at $937,000 after acquiring 1,315 additional shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Northeast Bank by 0.6% in the first quarter. Renaissance Technologies LLC now owns 242,245 shares of the financial services provider valued at $8,263,000 after acquiring an additional 1,400 shares in the last quarter. 50.04% of the shares are held by institutional investors.
About the Northeast Rim
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Northeast Bank provides banking services to individuals and businesses in Maine. The Company’s deposit products include demand deposits, NOW, money market, savings, certificates of deposit and individual retirement accounts, as well as checking accounts. Its loan portfolio includes residential mortgages; multi-family real estate loans and other commercial real estate loans; commercial and industrial loans, such as term loans, lines of credit and equipment, and receivables financing; consumer loans made up of mobile homes and overdrafts, and loans guaranteed by deposit; and small business administration loans.
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