Northeast Bank (NASDAQ:NBN) Sets New 1-Year High – Should You Buy?

Shares of Northeast Bank (NASDAQ:NBN) reached a new 52-week high on Thursday . The stock traded as high as $107.15 and last traded at $107.20, with a volume of 15896 shares traded. The stock had previously closed at $103.13.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods initiated coverage on shares of Northeast Bank in a research note on Thursday, November 21st. They issued a “market perform” rating and a $102.00 price target on the stock.

Northeast Bank Price Performance

The firm’s 50 day simple moving average is $97.23 and its 200-day simple moving average is $85.01. The company has a market cap of $871.94 million, a price-to-earnings ratio of 13.79 and a beta of 1.08.

Institutional Investors Weigh In On Northeast Bank

A number of large investors have recently added to or reduced their stakes in NBN. R Squared Ltd bought a new stake in shares of Northeast Bank in the 4th quarter worth about $41,000. Quantbot Technologies LP acquired a new position in Northeast Bank in the third quarter worth approximately $76,000. BNP Paribas Financial Markets increased its position in Northeast Bank by 36.7% during the third 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 bought a new stake in Northeast Bank during the 3rd quarter valued at approximately $185,000. Finally, AQR Capital Management LLC bought a new position in shares of Northeast Bank in the second quarter valued at approximately $212,000.

Northeast Bank Company Profile

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.