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

Northeast Bancorp (NASDAQ:NBN) declared a quarterly dividend on Monday, October 26th. Shareholders of record on Monday, November 9th will be given a dividend of $0.01 per share by the financial services provider on Monday, November 23rd. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date is Monday, November 9th.

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

Northeast Bancorp Price Performance

Shares of NASDAQ NBN opened at $131.32 on Tuesday. The firm’s 50-day simple moving average is $128.86 and its 200 day simple moving average is $123.13. The company has a quick ratio of 1.32, a current ratio of 1.35 and a debt-to-equity ratio of 1.42. The stock has a market cap of $1.08 billion, a P/E ratio of 10.32 and a beta of 0.60. Northeast Bancorp has a fifty-two week low of $80.75 and a fifty-two week high of $142.31.

Northeast Bancorp (NASDAQ:NBN) last issued its quarterly earnings results on Monday, October 26th. The financial services provider reported $3.42 earnings per share for the quarter, beating analysts’ consensus estimates of $3.41 by $0.01. Northeast Bancorp had a net margin of 27.91% and a return on equity of 19.35%. The company had revenue of $64.27 million during the quarter, compared to the consensus estimate of $66.77 million.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NBN shares. Piper Sandler upped their target price on Northeast Bancorp from $145.00 to $151.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Keefe, Bruyette & Woods increased their target price on Northeast Bancorp from $128.00 to $136.00 and gave the company a “market perform” rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Northeast Bancorp in a report on Friday, July 31st. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $143.50.

Northeast Bancorp Company Profile

Northeast Bancorp is the bank holding company for Northeast Bank, a community-focused financial institution headquartered in Lewiston, Maine. Founded in 1872, Northeast Bank provides banking and lending services to individuals, families, businesses and nonprofit organizations.

The bank offers deposit products such as checking, savings and money market accounts, certificates of deposit and business deposit services. Its lending activities include commercial real estate, commercial and industrial, residential real estate, consumer and municipal loans, as well as construction and other business financing.