Northeast Bank (NBN) to Issue Quarterly Dividend of $0.01 on November 26th

Northeast Bank (NASDAQ:NBN) announced a quarterly dividend on Tuesday, October 29th, Zacks reports. Stockholders of record on Tuesday, November 12th will be given 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 dividend yield of 0.04%. The ex-dividend date 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 Performance

Shares of NBN traded up $0.59 during trading hours on Thursday, hitting $91.40. 2,652 shares of the company were exchanged, compared to its average volume of 29,458. The firm’s 50 day moving average is $75.53 and its 200-day moving average is $65.25. Northeast Bank has a 52 week low of $47.22 and a 52 week high of $93.80.

Northeast Bank (NASDAQ:NBN) last released its quarterly 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 company 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 posted $2.01 EPS.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reiterated an “overweight” rating and set 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.