Northeast Bank (NASDAQ:NBN) Releases Earnings Results, Beats Expectations By $0.34 EPS

Posted by Ed Jones on Nov 1st, 2024

Northeast Bank (NASDAQ:NBN – Get Free Report) issued its quarterly earnings data on Tuesday. The financial services provider reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.34, Yahoo Finance reports. The company had revenue of $73.97 million for the quarter, compared to the consensus estimate of $38.20 million. During the same quarter in the prior year, the firm earned $2.01 earnings per share.

Northeast Bank Trading Up 1.0 %

NASDAQ NBN traded up $0.92 during trading on Friday, reaching $89.78. 27,895 shares of the company’s stock were exchanged, compared to its average volume of 29,746. Northeast Bank has a fifty-two week low of $47.48 and a fifty-two week high of $93.80. The company’s fifty day simple moving average is $75.98 and its 200-day simple moving average is $65.42.

Northeast Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. Northeast Bank’s payout ratio is presently 0.52%.

Wall Street Analyst Weigh In

Separately, Piper Sandler reaffirmed an “overweight” rating and set a $80.00 target price on shares of Northeast Bank in a report on Wednesday, September 11th.

Check Out Our Latest Stock Report on Northeast Bank

Northeast Bank Company Profile

(Get Free Report)

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.