Keefe, Bruyette & Woods Issues Positive Forecast for Northeast Bank (NASDAQ:NBN) Stock Price

Northeast Bank (NASDAQ:NBN) had its price objective increased by stock analysts at Keefe, Bruyette & Woods from $102.00 to $115.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 4.97% from the company’s current price.

Northeast Bank Stock Up 3.0 %

NBN stock opened at $109.56 on Monday. The company’s fifty day simple moving average is $97.61 and its 200 day simple moving average is $85.53. Northeast Bank has a 12-month low of $49.07 and a 12-month high of $110.35. The firm has a market cap of $899.49 million, a price-to-earnings ratio of 12.75 and a beta of 1.08.

Northeast Bank (NASDAQ:NBN) last released its earnings results on Thursday, February 6th. The financial services provider reported $2.74 EPS for the quarter, topping the consensus estimate of $2.56 by $0.18.

Institutional Investors Weigh In On Northeast Bank

Hedge funds and other institutional investors have recently made changes to their positions in the business. R Squared Ltd purchased a new stake in Northeast Bank in the 4th quarter valued at $41,000. Quantbot Technologies LP purchased a new stake in shares of Northeast Bank in the third quarter valued at about $76,000. BNP Paribas Financial Markets raised its holdings in shares of Northeast Bank by 36.7% in the third quarter. BNP Paribas Financial Markets now owns 1,647 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 442 shares during the last quarter. AlphaQuest LLC lifted its position in shares of Northeast Bank by 12,410.5% during the fourth quarter. AlphaQuest LLC now owns 2,377 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 2,358 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Northeast Bank during the third quarter worth about $185,000.

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.