Northeast Bancorp (NBN) To Go Ex-Dividend on November 9th

Northeast Bancorp (NASDAQ:NBN) declared a quarterly dividend on Monday, October 26th. Stockholders of record on Monday, November 9th will be given a dividend of $0.01 per share by the financial services provider on Monday, November 23rd. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date is Monday, November 9th.

Northeast Bancorp has a dividend payout ratio of 0.3% indicating that its dividend is sufficiently covered by earnings.

Northeast Bancorp Stock Performance

NASDAQ NBN opened at $126.29 on Friday. Northeast Bancorp has a 12-month low of $80.75 and a 12-month high of $142.31. The company has a quick ratio of 1.32, a current ratio of 1.35 and a debt-to-equity ratio of 1.42. The firm has a market cap of $1.04 billion, a P/E ratio of 9.67 and a beta of 0.64. The company’s 50 day moving average is $128.43 and its 200-day moving average is $124.03.

Northeast Bancorp (NASDAQ:NBN) last posted its quarterly earnings results on Monday, October 26th. The financial services provider reported $3.42 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.01. Northeast Bancorp had a return on equity of 20.02% and a net margin of 28.34%. The company had revenue of $64.27 million for the quarter, compared to the consensus estimate of $66.77 million.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NBN. Keefe, Bruyette & Woods lifted their target price on Northeast Bancorp from $128.00 to $136.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 28th. Weiss Ratings reissued a “buy (b)” rating on shares of Northeast Bancorp in a research report on Thursday, October 29th. Finally, Piper Sandler raised their price target on Northeast Bancorp from $145.00 to $151.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $143.50.

Northeast Bancorp Company Profile

Northeast Bancorp is the bank holding company for Northeast Bank, a community-focused financial institution headquartered in Lewiston, Maine. Founded in 1872, Northeast Bank provides banking and lending services to individuals, families, businesses and nonprofit organizations.

The bank offers deposit products such as checking, savings and money market accounts, certificates of deposit and business deposit services. Its lending activities include commercial real estate, commercial and industrial, residential real estate, consumer and municipal loans, as well as construction and other business financing.