Northeast Bank (NASDAQ:NBN) Rating Reiterated by Piper Sandler

Northeast Bank (NASDAQ:NBN)‘s stock had its “overweight” rating reissued by research analysts at Piper Sandler in a note issued to investors on Wednesday, MarketBeat reports. They presently have a $80.00 price objective on the financial services provider’s stock. Piper Sandler’s price objective would suggest a potential upside of 18.47% from the company’s current price.

Northeast Bank Price Performance

Shares of NBN stock opened at $67.53 on Wednesday. Northeast Bank has a 12-month low of $42.48 and a 12-month high of $74.85. The firm has a 50-day moving average price of $67.23 and a 200 day moving average price of $59.17.

Northeast Bank (NASDAQ:NBN) last released its quarterly earnings results on Monday, July 29th. The financial services provider reported $1.91 EPS for the quarter. The business had revenue of $68.66 million for the quarter. During the same quarter in the previous year, the business posted $1.61 EPS.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NBN. Ellsworth Advisors LLC boosted its position in shares of Northeast Bank by 5.0% in the 2nd quarter. Ellsworth Advisors LLC now owns 12,613 shares of the financial services provider’s stock worth $768,000 after purchasing an additional 598 shares during the last quarter. Boston Partners lifted its stake in Northeast Bank by 5.2% in the first quarter. Boston Partners now owns 13,839 shares of the financial services provider’s stock valued at $766,000 after buying an additional 689 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Northeast Bank by 10.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 16,501 shares of the financial services provider’s stock worth $911,000 after buying an additional 1,619 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Northeast Bank by 82.2% during the 1st quarter. BNP Paribas Financial Markets now owns 3,640 shares of the financial services provider’s stock worth $201,000 after buying an additional 1,642 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Northeast Bank by 3,166.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,025 shares of the financial services provider’s stock valued at $112,000 after acquiring an additional 1,963 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.