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

Northeast Bank (NASDAQ:NBN) announced a quarterly dividend on Thursday, February 6th,RTT News reports. Stockholders of record on Tuesday, February 18th will be paid a dividend of 0.01 per share by the financial services provider on Tuesday, March 4th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%.

Northeast Bank has a payout ratio of 0.4% meaning its dividend is sufficiently covered by earnings.

Northeast Bank Price Performance

NASDAQ NBN traded up $3.21 on Thursday, hitting $106.34. 48,104 shares of the stock were exchanged, compared to its average volume of 44,512. The company’s 50-day moving average price is $97.23 and its two-hundred day moving average price is $85.01. The company has a market capitalization of $873.05 million, a price-to-earnings ratio of 13.81 and a beta of 1.08. Northeast Bank has a 52-week low of $49.07 and a 52-week high of $108.00.

Northeast Bank (NASDAQ:NBN) last issued its earnings results on Thursday, February 6th. The financial services provider reported $2.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.18.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods initiated coverage on shares of Northeast Bank in a research note on Thursday, November 21st. They issued a “market perform” rating and a $102.00 price objective for the company.

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.