The stock of Northeast Bancorp (NASDAQ:NBN) hit a new 52-week high and has $12.59 target or 9.00% above today’s $11.55 share price. The 9 months bullish chart indicates low risk for the $104.71 million company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $12.59 price target is reached, the company will be worth $9.42M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 45,517 shares traded hands or 114.51% up from the average. Northeast Bancorp (NASDAQ:NBN) has risen 1.84% since April 25, 2016 and is uptrending. It has underperformed by 4.17% the S&P500.
Analysts await Northeast Bancorp (NASDAQ:NBN) to report earnings on February, 6.
According to Zacks Investment Research, “NORTHEAST BANCORP (ME)is a savings and loan holding company whose primary assets is its subsidiary, Northeast Bank, F.S.B., the bank. The Bank’s primary business consists of attracting savings deposits from the general public and applying those funds primarily to the origination and retention of first mortgage loans on residential real estate. Of the Bank’s loan portfolio at June 30, 1996, 83% was invested in real estate loans(including residential, construction and commercial mortgage loans), 8% incommercial loans and 9% in consumer loans.”
Insitutional Activity: The institutional sentiment increased to 1.6 in Q2 2016. Its up 0.77, from 0.83 in 2016Q1. The ratio increased, as 2 funds sold all Northeast Bancorp shares owned while 4 reduced positions. 1 funds bought stakes while 4 increased positions. They now own 2.57 million shares or 10.60% less from 2.88 million shares in 2016Q1.
Welch And Forbes Ltd Liability Corporation owns 14,000 shares or 0% of their US portfolio. Alliancebernstein Lp has 0% invested in the company for 82,556 shares. Moreover, Brandywine Glob Investment Llc has 0% invested in Northeast Bancorp (NASDAQ:NBN) for 30,664 shares. First Manhattan reported 2,300 shares or 0% of all its holdings. Geode Cap Management Ltd Co, a Massachusetts-based fund reported 21,294 shares. Moreover, California Public Employees Retirement Sys has 0% invested in Northeast Bancorp (NASDAQ:NBN) for 26,758 shares. Morgan Stanley has invested 0% of its portfolio in Northeast Bancorp (NASDAQ:NBN). Mufg Americas Hldg has 0% invested in the company for 350 shares. Axa accumulated 1,700 shares or 0% of the stock. Wells Fargo And Mn holds 0% or 1 shares in its portfolio. Lsv Asset Management last reported 0% of its portfolio in the stock. Wellington Management Gp Ltd Liability Partnership last reported 0% of its portfolio in the stock. Deutsche Bank & Trust Ag last reported 0% of its portfolio in the stock. Commonwealth Equity Ser has 12,650 shares for 0% of their US portfolio. Boston owns 217,260 shares or 0% of their US portfolio.
Insider Transactions: Since August 1, 2016, the stock had 1 buy, and 0 sales for $10,005 net activity. McClean Peter Walter had bought 867 shares worth $10,005 on Monday, August 1.
More recent Northeast Bancorp (NASDAQ:NBN) news were published by: Seekingalpha.com which released: “Northeast Bancorp’s (NBN) CEO Rick Wayne on Q1 2017 Results – Earnings Call …” on October 30, 2016. Also Globenewswire.com published the news titled: “Northeast Bancorp Closed Private Placement of $15.05 million of Subordinated …” on June 29, 2016. Equitiesfocus.com‘s news article titled: “Northeast Bancorp (NASDAQ:NBN) Quarterly EPS From Continuing Operations Stands …” with publication date: November 28, 2016 was also an interesting one.
NBN Company Profile
Northeast Bancorp, incorporated on March 20, 1987, is a bank holding company. The Company’s banking subsidiary is Northeast Bank (the Bank). The Firm provides a range of banking services to individual and corporate clients throughout south-central and western Maine and conducts loan purchasing and origination activities nationwide through its subsidiary.
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