Northeast Bank (NASDAQ:NBN) Plans $0.01 Quarterly Dividend

Northeast Bank (NASDAQ:NBN) declared a quarterly dividend on Tuesday, October 29th, Zacks reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date of this dividend is Tuesday, November 12th.

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

Northeast Bank Trading Up 0.6 %

Shares of NBN traded up $0.59 during mid-day trading on Thursday, reaching $91.40. The company had a trading volume of 2,652 shares, compared to its average volume of 29,458. Northeast Bank has a twelve month low of $47.22 and a twelve month high of $93.80. The company’s 50-day moving average is $75.53 and its 200-day moving average is $65.25.

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

Analysts Set New Price Targets

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

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.