Northeast Bank (NASDAQ:NBN) to Issue $0.01 Quarterly Dividend

Northeast Bank (NASDAQ:NBN) announced a quarterly dividend on Tuesday, October 29th,Zacks Dividends reports. Stockholders 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 dividend 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 Down 0.9 %

NASDAQ:NBN opened at $101.37 on Monday. The company has a fifty day moving average price of $79.05 and a 200 day moving average price of $67.36. Northeast Bank has a one year low of $49.07 and a one year high of $105.44.

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

Analyst Upgrades and Downgrades

Separately, Piper Sandler restated an “overweight” rating and issued a $80.00 price objective 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.