Northeast Bank (NASDAQ:NBN – Get Free Report) had its price target boosted by equities research analysts at Piper Sandler from $52.00 to $54.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective indicates a potential upside of 11.13% from the stock’s current price.
Separately, StockNews.com started coverage on shares of Northeast Bank in a research note on Thursday, October 5th. They issued a “hold” rating for the company.
Read Our Latest Stock Analysis on Northeast Bank
Northeast Bank Trading Up 3.3 %
Northeast Bank (NASDAQ:NBN – Get Free Report) last posted its earnings results on Monday, July 24th. The financial services provider reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.06. The business had revenue of $35.27 million for the quarter, compared to analysts’ expectations of $34.48 million.
Institutional Investors Weigh In On Northeast Bank
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its stake in Northeast Bank by 45.6% during the second quarter. Tower Research Capital LLC TRC now owns 763 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 239 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Northeast Bank in the first quarter worth about $27,000. UBS Group AG boosted its position in shares of Northeast Bank by 141.5% in the first quarter. UBS Group AG now owns 1,099 shares of the financial services provider’s stock worth $37,000 after buying an additional 644 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Northeast Bank by 368.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,490 shares of the financial services provider’s stock worth $50,000 after buying an additional 1,172 shares during the period. Finally, Strs Ohio purchased a new stake in shares of Northeast Bank in the first quarter worth about $53,000.
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.
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