Northeast Bank (NASDAQ:NBN) Announces Earnings Results

Northeast Bank (NASDAQ:NBN) posted its quarterly earnings results on Thursday. The financial services provider reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.18, Zacks reports.

Northeast Bank Price Performance

Shares of NASDAQ NBN traded up $3.21 on Thursday, hitting $106.34. The company’s stock had a trading volume of 48,082 shares, compared to its average volume of 44,108. The stock has a 50 day moving average of $97.23 and a 200-day moving average of $85.01. The company has a market capitalization of $873.05 million, a price-to-earnings ratio of 13.81 and a beta of 1.08. Northeast Bank has a 12-month low of $49.07 and a 12-month high of $108.00.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods initiated coverage on shares of Northeast Bank in a research report on Thursday, November 21st. They set a “market perform” rating and a $102.00 target price on the stock.

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.