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

Northeast Bank (NASDAQ:NBN) announced a quarterly dividend on Tuesday, October 29th,Zacks Dividends 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 dividend on an annualized basis and a 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 NASDAQ:NBN opened at $101.37 on Friday. Northeast Bank has a 52-week low of $49.07 and a 52-week high of $105.44. The business has a 50-day moving average price of $79.05 and a 200-day moving average price of $67.27.

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

Wall Street Analysts Forecast Growth

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