Northeast Bank
NBN
Market cap $707M

86.02 USD

-0.98

1.13%

At close Oct 18, 4:00 PM EDT

After hours

86.02

+0.00

0.00%

1 day

-1.13%

5 days

6.33%

1 month

23.08%

3 months

26.74%

6 months

69.26%

Year to date

57.23%

1 year

92.01%

5 years

291.18%

About: Northeast Bank provides banking and financial services to individual and corporate customers in the US. The firm conducts its loan-related activities through two primary channels: the Community Banking Division, and the Small Business Administration (SBA) National Division. Its loan portfolio comprises residential mortgage loans; multi-family and other commercial real estate loans; commercial and industrial loans, consumer loans, and small business administration loans. The firm also provides telephone banking, online banking, mobile banking, and remote deposit capture services. The revenue of the company is derived primarily from interest and dividends from the bank.

Employees: 212

0

Funds holding %

of 6,740 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

88% more first-time investments, than exits

New positions opened: 15 | Existing positions closed: 8

12% more capital invested

Capital invested by funds: $256M [Q1] → $287M (+$31M) [Q2]

7% more funds holding

Funds holding: 97 [Q1] → 104 (+7) [Q2]

1.12% more ownership

Funds ownership: 59.42% [Q1] → 60.54% (+1.12%) [Q2]

10% more repeat investments, than reductions

Existing positions increased: 34 | Existing positions reduced: 31

0% more funds holding in top 10

Funds holding in top 10: 2 [Q1] → 2 (+0) [Q2]

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Research analyst outlook

1 Wall Street Analyst provided 1 year price targets over the past 3 months

Low target

$80

7%

downside

Avg. target

$80

7%

downside

High target

$80

7%

downside

1 analyst rating

1 positive

100%

0 neutral

0%

0 negative

0%

Piper Sandler

Mark Fitzgibbon

89% 1-year accuracy

8 / 9 met price target

7%downside

$80

Overweight

Assumed

11 Sept 2024

See Analyst Rankings

Financial journalist opinion

Northeast Bank Announces Significant Loan Purchase Volume

PORTLAND, Maine, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN) announced today that since June 30, 2024, the Bank has purchased primarily commercial real estate loans in the amount of unpaid principal balance of $805 million. Because the purchases closed primarily late in the quarter, there will be minimal impact on earnings for the first fiscal quarter of 2025. The Bank has funded and intends to fund the purchase of these loans primarily relying on brokered deposits and Federal Home Loan Bank advances.

Northeast Bank Announces Significant Loan Purchase Volume

Northeast Bank: A Bit Pricey, But For A Reason

Northeast Bank is a small institution with high-quality assets and a focus on commercial loans, including smaller loans often overlooked by larger institutions. The bank has seen mixed performance in recent years, but net interest income has risen nicely due to a growth in loans on its books. Despite trading at a premium to book value, Northeast Bank's asset quality, balance sheet growth, and low uninsured deposit exposure makes it a decent prospect, warranting a soft 'buy' rating.

Northeast Bank: A Bit Pricey, But For A Reason

Northeast Bank (NBN) Q4 2024 Earnings Call Transcript

Northeast Bank (NASDAQ:NBN ) Q4 2024 Earnings Conference Call August 1, 2024 10:00 AM ET Company Participants Richard Wayne - President, CEO & Director Richard Cohen - CFO Patrick Dignan - COO & EVP Conference Call Participants David Minkoff - DCM Asset Management Operator Welcome to the Northeast Bank Fourth Quarter Fiscal Year 2024 Earnings Call. My name is Steven, and I will be your operator for today's call.

Northeast Bank (NBN) Q4 2024 Earnings Call Transcript

Northeast Bank Reports Fourth Quarter Results and Declares Dividend

PORTLAND, Maine, July 29, 2024 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, today reported net income of $15.1 million, or $1.91 per diluted common share, for the quarter ended June 30, 2024, compared to net income of $12.1 million, or $1.61 per diluted common share, for the quarter ended June 30, 2023. Net income for the year ended June 30, 2024 was $58.2 million, or $7.58 per diluted common share, compared to $44.2 million, or $5.96 per diluted common share, for the year ended June 30, 2023.

Northeast Bank Reports Fourth Quarter Results and Declares Dividend

Northeast Bank Announces Dates for Fiscal 2024 Fourth Quarter Earnings Results and Conference Call

PORTLAND, Maine, July 24, 2024 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today it will release its fiscal 2024 fourth quarter earnings results on Monday, July 29, 2024. Following the release, the Bank will host a conference call with a simultaneous webcast at 10:00 a.m. ET on Thursday, August 1, 2024. The conference call will be hosted by Rick Wayne, President and Chief Executive Officer, Richard Cohen, Chief Financial Officer, and Pat Dignan, Chief Operating Officer.

Northeast Bank Announces Dates for Fiscal 2024 Fourth Quarter Earnings Results and Conference Call

Northeast Bank: Good Growth Prospects

Northeast Bank offers potential for above-average returns with a unique business model combining organic growth and purchasing loans at discounts. Anticipation of interest rate cuts is high, which could benefit banks like NBN and Esquire Financial Holdings in the future. NBN's focus on purchasing loans at discounts, strong asset quality, and efficient value generation make it a solid opportunity for long-term returns, especially if interest rates decline.

Northeast Bank: Good Growth Prospects

Northeast Bank Reports Third Quarter Results and Declares Dividend

PORTLAND, Maine, April 30, 2024 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, today reported net income of $13.9 million, or $1.83 per diluted common share, for the quarter ended March 31, 2024, compared to net income of $12.5 million, or $1.69 per diluted common share, for the quarter ended March 31, 2023. Net income for the nine months ended March 31, 2024 was $43.1 million, or $5.67 per diluted common share, compared to $32.1 million, or $4.35 per diluted common share, for the nine months ended March 31, 2023.

Northeast Bank Reports Third Quarter Results and Declares Dividend

Northeast Bank Announces Dates for Fiscal 2024 Third Quarter Earnings Results and Conference Call

PORTLAND, Maine, April 25, 2024 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today it will release its fiscal 2024 third quarter earnings results on Tuesday, April 30, 2024. Following the release, the Bank will host a conference call with a simultaneous webcast at 10:00 a.m. ET on Wednesday, May 1, 2024. The conference call will be hosted by Rick Wayne, President and Chief Executive Officer, Richard Cohen, Chief Financial Officer, and Pat Dignan, Chief Operating Officer.

Northeast Bank Announces Dates for Fiscal 2024 Third Quarter Earnings Results and Conference Call

Northeast Bank (NBN) Q2 2024 Earnings Call Transcript

Northeast Bank (NBN) Q2 2024 Earnings Call Transcript

Northeast Bank (NBN) Q2 2024 Earnings Call Transcript

Northeast Bank Reports Second Quarter Results and Declares Dividend

PORTLAND, Maine, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, today reported net income of $14.1 million, or $1.85 per diluted common share, for the quarter ended December 31, 2023, compared to net income of $11.3 million, or $1.54 per diluted common share, for the quarter ended December 31, 2022. Net income for the six months ended December 31, 2023 was $29.2 million, or $3.86 per diluted common share, compared to $19.6 million, or $2.65 per diluted common share, for the six months ended December 31, 2022. Results for the quarter and six months ended December 31, 2023 were negatively impacted by a deferred tax asset write-down of $957 thousand ($0.13 per diluted common share impact) due to a change in Massachusetts tax law regarding income tax apportionment.

Northeast Bank Reports Second Quarter Results and Declares Dividend

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