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

Northeast Bancorp (NASDAQ:NBN) announced a quarterly dividend on Monday, January 26th. Stockholders of record on Wednesday, February 11th will be given a dividend of 0.01 per share by the financial services provider on Wednesday, February 25th. This represents a c) dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date is Wednesday, February 11th.

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

Northeast Bancorp Stock Performance

Shares of NASDAQ NBN opened at $114.25 on Tuesday. The firm has a market capitalization of $937.99 million, a price-to-earnings ratio of 10.74 and a beta of 0.54. Northeast Bancorp has a one year low of $78.17 and a one year high of $121.47. The business has a fifty day simple moving average of $101.56 and a 200 day simple moving average of $99.66. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.65.

Northeast Bancorp (NASDAQ:NBN) last announced its quarterly earnings results on Monday, January 26th. The financial services provider reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.09. Northeast Bancorp had a net margin of 24.36% and a return on equity of 18.52%. The firm had revenue of $51.77 million for the quarter, compared to analyst estimates of $54.83 million.

Analyst Ratings Changes

Several research firms recently issued reports on NBN. Wall Street Zen lowered shares of Northeast Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Keefe, Bruyette & Woods lowered their price objective on Northeast Bancorp from $107.00 to $102.00 and set a “market perform” rating on the stock in a research note on Thursday, October 30th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Northeast Bancorp in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Northeast Bancorp has an average rating of “Moderate Buy” and an average target price of $102.00.

Northeast Bancorp Company Profile

Northeast Bancorp is a Maine-based bank holding company and the parent of Northeast Bank, a state‐chartered commercial bank headquartered in Lewiston, Maine. Through its subsidiary, the company provides a variety of financial services, including personal checking and savings accounts, residential mortgage lending, small business and commercial loans, treasury management and private banking services. The bank operates a branch network spanning central and southern Maine, serving individuals, families and local businesses across the region.

Founded in 1872 as Androscoggin County Savings Bank, the institution has evolved through mutual and stock conversions, adopting the Northeast Bank name in 2001 and forming Northeast Bancorp as its mutual holding company in 2013.