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

Northeast Bank (NASDAQ:NBN) declared 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 is Tuesday, November 12th.

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

Northeast Bank Trading Up 0.6 %

Shares of NASDAQ NBN opened at $91.40 on Thursday. Northeast Bank has a 1 year low of $47.22 and a 1 year 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 announced its earnings results on Tuesday, October 29th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.34. The firm had revenue of $73.97 million during the quarter, compared to the consensus estimate of $38.20 million. During the same period in the prior year, the company posted $2.01 EPS.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler restated an “overweight” rating and issued a $80.00 price target on shares of Northeast Bank in a research note 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.