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

Northeast Bank (NASDAQ:NBN) declared a quarterly dividend on Tuesday, April 30th, Zacks reports. Investors of record on Monday, May 13th will be given 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 yield of 0.07%. The ex-dividend date of this dividend is Friday, May 10th.

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

Northeast Bank Stock Up 2.4 %

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 company has a 50-day moving average of $52.92 and a 200 day moving average of $52.51. Northeast Bank has a 1 year low of $34.20 and a 1 year high of $59.00.

Northeast Bank (NASDAQ:NBN) last issued its earnings results on Tuesday, April 30th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.11. The company had revenue of $66.03 million during the quarter, compared to analysts’ expectations of $36.34 million. During the same quarter in the previous year, the company earned $1.69 earnings per share.

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.