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

Northeast Bank (NASDAQ:NBN) announced a quarterly dividend on Tuesday, April 29th, RTT News reports. Investors of record on Tuesday, May 13th will be paid a dividend of 0.01 per share by the financial services provider on Tuesday, May 27th. This represents a $0.04 annualized dividend and a yield of 0.05%. The ex-dividend date of this dividend is Tuesday, May 13th.

Northeast Bank has a dividend payout ratio of 0.3% indicating that its dividend is sufficiently covered by earnings.

Northeast Bank Stock Down 0.3 %

NBN stock opened at $84.87 on Friday. Northeast Bank has a 52 week low of $54.29 and a 52 week high of $110.35. The firm has a market capitalization of $696.44 million, a P/E ratio of 9.88 and a beta of 0.60. The company has a fifty day simple moving average of $88.68 and a two-hundred day simple moving average of $94.73.

Northeast Bank (NASDAQ:NBN) last released its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $2.23 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.60). The company had revenue of $52.57 million during the quarter, compared to the consensus estimate of $50.09 million.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods increased their price target on Northeast Bank from $102.00 to $115.00 and gave the company a “market perform” rating in a report on Monday, February 10th.

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.