Northeast Bank Announces Quarterly Dividend of $0.01 (NASDAQ:NBN)

Northeast Bank (NASDAQ:NBN) announced a quarterly dividend on Tuesday, October 29th, Zacks reports. Shareholders of record on Tuesday, November 12th will be paid a dividend of 0.01 per share by the financial services provider on Tuesday, November 26th. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date of this dividend is Tuesday, November 12th.

Northeast Bank has a payout ratio of 0.6% indicating that its dividend is sufficiently covered by earnings.

Northeast Bank Stock Up 3.2 %

Shares of Northeast Bank stock opened at $90.81 on Thursday. Northeast Bank has a 1-year low of $47.22 and a 1-year high of $93.80. The firm’s 50-day moving average price is $75.53 and its two-hundred day moving average price is $65.25.

Northeast Bank (NASDAQ:NBN) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.34. The company had revenue of $73.97 million for the quarter, compared to analyst estimates of $38.20 million. During the same quarter in the previous year, the company posted $2.01 earnings per share.

Analyst Ratings Changes

Separately, Piper Sandler restated an “overweight” rating and issued a $80.00 price objective on shares of Northeast Bank in a report on Wednesday, September 11th.

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.