Northeast Bancorp/ME is an AMEX listed security that has been trading in a range between $16.55 and $21.80 over the past year. With 2,452,630 shares outstanding, a recent price of $18.65 gives a total market capitalization of $45,741,549. While there are certainly larger companies, Northeast Bancorp/ME has definitely earned its place in the pack. Last year, Northeast Bancorp/ME created $0.97 in earnings for every share outstanding.
Northeast Bancorp/ME is currently priced by the market at 19.20 times last year’s earnings. Many trading multiples around the world are quite attractive these days, but don’t be fooled. A Price to Earnings ratio of 0 simply means that the security didn’t make any money last year.
With a share price under $50 a share and earnings per share below $1 a share, Northeast Bancorp/ME could be an interesting value proposition.
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