Northeast Bank (NASDAQ:NBN) Sets New 1-Year High on Better-Than-Expected Earnings

Northeast Bank (NASDAQ:NBN)’s share price hit a new 52-week high during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $107.15 and last traded at $107.20, with a volume of 15896 shares. The stock had previously closed at $103.13.

The financial services provider reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.18.

Northeast Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a $0.01 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. Northeast Bank’s dividend payout ratio (DPR) is 0.47%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods started coverage on shares of Northeast Bank in a report on Thursday, November 21st. They issued a “market perform” rating and a $102.00 target price on the stock.

Institutional Investors Weigh In On Northeast Bank

A number of institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC purchased a new stake in shares of Northeast Bank during the 2nd quarter valued at $229,000. AQR Capital Management LLC acquired a new stake in Northeast Bank during the second quarter worth about $212,000. SG Americas Securities LLC acquired a new stake in Northeast Bank during the 3rd quarter worth approximately $185,000. Assenagon Asset Management S.A. raised its stake in shares of Northeast Bank by 251.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 21,554 shares of the financial services provider’s stock valued at $1,662,000 after acquiring an additional 15,422 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Northeast Bank by 11.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,268 shares of the financial services provider’s stock valued at $406,000 after acquiring an additional 520 shares in the last quarter.

Northeast Bank Trading Up 3.0 %

The stock has a market capitalization of $899.49 million, a PE ratio of 12.75 and a beta of 1.08. The business’s 50-day moving average is $97.61 and its two-hundred day moving average is $85.43.

Northeast Bank Company Profile

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.