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

Northeast Bank (NASDAQ:NBN)’s share price hit 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. The stock had previously closed at $103.13.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods started 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 objective on the stock.

Northeast Bank Stock Up 3.0 %

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

Hedge Funds Weigh In On Northeast Bank

Several large investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Northeast Bank by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,875 shares of the financial services provider’s stock worth $1,823,000 after purchasing an additional 892 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Northeast Bank by 3.2% during the fourth quarter. Bank of New York Mellon Corp now owns 47,873 shares of the financial services provider’s stock valued at $4,391,000 after buying an additional 1,498 shares during the last quarter. Polaris Capital Management LLC raised its holdings in shares of Northeast Bank by 3.5% in the fourth quarter. Polaris Capital Management LLC now owns 49,600 shares of the financial services provider’s stock worth $4,550,000 after buying an additional 1,700 shares during the period. R Squared Ltd bought a new stake in shares of Northeast Bank during the 4th quarter worth approximately $41,000. Finally, SG Americas Securities LLC grew its stake in Northeast Bank by 151.9% in the 4th quarter. SG Americas Securities LLC now owns 6,031 shares of the financial services provider’s stock worth $553,000 after acquiring an additional 3,637 shares in the last quarter.

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.