Northeast Indiana Bancorp (OTCMKTS:NIDB) Shares Up 6.6% – Here’s Why

Northeast Indiana Bancorp, Inc. (OTCMKTS:NIDB) shares shot up 6.6% during trading on Thursday . The stock traded as high as $18.49 and last traded at $18.49. 756 shares changed hands during mid-day trading, an increase of 1% from the average session volume of 752 shares. The stock had previously closed at $17.35.

Northeast Indiana Bancorp Stock Performance

The stock’s 50-day simple moving average is $17.92 and its two-hundred day simple moving average is $16.98. The stock has a market cap of $44.38 million, a price-to-earnings ratio of 10.88 and a beta of 0.39.

Northeast Indiana Bancorp (OTCMKTS:NIDB) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.43 earnings per share for the quarter. The business had revenue of $4.81 million for the quarter.

Northeast Indiana Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.72 dividend on an annualized basis and a yield of 3.89%. This is a positive change from Northeast Indiana Bancorp’s previous quarterly dividend of $0.17. Northeast Indiana Bancorp’s payout ratio is 42.35%.

About Northeast Indiana Bancorp

Northeast Indiana Bancorp, Inc operates as the bank holding company for First Federal Savings Bank that provides various banking and financial advisory services. The company offers checking accounts, savings accounts, retirement accounts, health savings accounts, and direct deposits, as well as certificates of deposit.