Northeast Bank (NASDAQ:NBN) Posts Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Northeast Bank (NASDAQ:NBN) announced its quarterly earnings results on Tuesday. The financial services provider reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.11, Yahoo Finance reports. The business had revenue of $66.03 million for the quarter, compared to analysts’ expectations of $36.34 million. During the same period last year, the company posted $1.69 earnings per share.

Northeast Bank Price Performance

NASDAQ NBN traded up $0.46 on Wednesday, hitting $52.18. The stock had a trading volume of 7,984 shares, compared to its average volume of 25,450. Northeast Bank has a one year low of $34.20 and a one year high of $59.00. The company’s 50-day moving average is $52.91 and its two-hundred day moving average is $52.50.

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.