Northeast Bank (NBN) to Issue Quarterly Dividend of $0.01 on May 27th

Northeast Bank (NASDAQ:NBN) declared a quarterly dividend on Tuesday, April 30th, Zacks reports. Investors of record on Monday, May 13th will be paid a dividend of 0.01 per share by the financial services provider on Monday, May 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.07%. The ex-dividend date is Friday, May 10th.

Northeast Bank has a dividend payout ratio of 0.6% meaning its dividend is sufficiently covered by earnings.

Northeast Bank Stock Performance

NASDAQ:NBN traded up $1.28 during trading hours on Thursday, hitting $54.30. The company had a trading volume of 12,751 shares, compared to its average volume of 25,424. The stock has a 50-day moving average price of $52.92 and a 200 day moving average price of $52.51. Northeast Bank has a 52 week low of $34.20 and a 52 week high of $59.00.

Northeast Bank (NASDAQ:NBN) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.11. The business had revenue of $66.03 million for the quarter, compared to the consensus estimate of $36.34 million. During the same quarter last year, the firm posted $1.69 EPS.

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.