Northeast Bank (NASDAQ:NBN) Announces Quarterly Earnings Results

Northeast Bank (NASDAQ:NBN) released its quarterly earnings data on Thursday. The financial services provider reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.18, Zacks reports.

Northeast Bank Stock Up 3.1 %

Shares of NASDAQ:NBN opened at $106.34 on Friday. The company has a 50 day moving average of $97.23 and a two-hundred day moving average of $85.01. Northeast Bank has a 52-week low of $49.07 and a 52-week high of $108.00. The company has a market capitalization of $873.05 million, a price-to-earnings ratio of 13.81 and a beta of 1.08.

Northeast Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. Northeast Bank’s dividend payout ratio is presently 0.52%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods initiated coverage on shares of Northeast Bank in a research report on Thursday, November 21st. They set a “market perform” rating and a $102.00 price target for the company.

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.