Piper Sandler Comments on Northeast Bancorp’s Q1 2021 Earnings (NASDAQ:NBN)

Northeast Bancorp (NASDAQ:NBN) – Equities researchers at Piper Sandler boosted their Q1 2021 EPS estimates for shares of Northeast Bancorp in a note issued to investors on Friday, June 26th. Piper Sandler analyst A. Twerdahl now forecasts that the financial services provider will post earnings of $0.61 per share for the quarter, up from their previous estimate of $0.57. Piper Sandler also issued estimates for Northeast Bancorp’s Q2 2021 earnings at $0.70 EPS, Q3 2021 earnings at $0.66 EPS, Q4 2021 earnings at $0.70 EPS, Q1 2022 earnings at $0.74 EPS and Q2 2022 earnings at $0.82 EPS.

Separately, ValuEngine cut Northeast Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, April 2nd.

Shares of NASDAQ:NBN opened at $16.68 on Monday. Northeast Bancorp has a 52-week low of $6.20 and a 52-week high of $23.98. The stock has a market cap of $142.92 million, a price-to-earnings ratio of 14.02 and a beta of 1.72. The business has a 50-day moving average price of $16.61 and a 200-day moving average price of $17.37.

Northeast Bancorp (NASDAQ:NBN) last released its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.18). Northeast Bancorp had a net margin of 12.27% and a return on equity of 12.98%. The business had revenue of $17.18 million during the quarter, compared to analysts’ expectations of $17.20 million.

Large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in Northeast Bancorp by 13.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,655 shares of the financial services provider’s stock worth $433,000 after acquiring an additional 2,330 shares during the period. Tower Research Capital LLC TRC grew its holdings in Northeast Bancorp by 2,045.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,545 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 1,473 shares during the period. Bank of Montreal Can grew its holdings in Northeast Bancorp by 1,475.3% during the fourth quarter. Bank of Montreal Can now owns 30,954 shares of the financial services provider’s stock worth $680,000 after acquiring an additional 28,989 shares during the period. Barclays PLC grew its holdings in Northeast Bancorp by 122.6% during the fourth quarter. Barclays PLC now owns 8,370 shares of the financial services provider’s stock worth $184,000 after acquiring an additional 4,610 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Northeast Bancorp by 7.5% during the fourth quarter. Renaissance Technologies LLC now owns 313,745 shares of the financial services provider’s stock worth $6,899,000 after acquiring an additional 21,901 shares during the period. Hedge funds and other institutional investors own 59.39% of the company’s stock.

Northeast Bancorp Company Profile

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.

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Earnings History and Estimates for Northeast Bancorp (NASDAQ:NBN)

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