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

Northeast Bank (NASDAQ:NBNGet Rating) declared a quarterly dividend on Monday, April 25th, Fidelity reports. Shareholders of record on Wednesday, May 4th will be given a dividend of 0.01 per share by the financial services provider on Wednesday, May 18th. This represents a $0.04 annualized dividend and a yield of 0.11%. The ex-dividend date is Tuesday, May 3rd.

Northeast Bank has a payout ratio of 0.9% meaning its dividend is sufficiently covered by earnings.

Northeast Bank stock opened at $36.32 on Wednesday. The business’s fifty day moving average is $35.40. Northeast Bank has a 52-week low of $27.26 and a 52-week high of $41.05. The firm has a market capitalization of $302.91 million, a price-to-earnings ratio of 3.94 and a beta of 1.54.

Northeast Bank (NASDAQ:NBNGet Rating) last released its quarterly earnings data on Monday, April 25th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.19. During the same period last year, the business earned $4.06 EPS.

Separately, StockNews.com initiated coverage on Northeast Bank in a research note on Thursday, March 31st. They set a “buy” rating for the company.

Several hedge funds have recently made changes to their positions in NBN. Morgan Stanley grew its holdings in shares of Northeast Bank by 85.9% during the second quarter. Morgan Stanley now owns 66,982 shares of the financial services provider’s stock worth $2,002,000 after purchasing an additional 30,960 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in Northeast Bank in the fourth quarter valued at about $1,006,000. BlackRock Inc. boosted its holdings in Northeast Bank by 58.2% in the fourth quarter. BlackRock Inc. now owns 74,388 shares of the financial services provider’s stock valued at $2,658,000 after acquiring an additional 27,368 shares during the last quarter. Susquehanna International Group LLP boosted its holdings in Northeast Bank by 71.2% in the fourth quarter. Susquehanna International Group LLP now owns 30,155 shares of the financial services provider’s stock valued at $1,077,000 after acquiring an additional 12,542 shares during the last quarter. Finally, Citadel Advisors LLC boosted its holdings in Northeast Bank by 49.5% in the second quarter. Citadel Advisors LLC now owns 26,378 shares of the financial services provider’s stock valued at $788,000 after acquiring an additional 8,730 shares during the last quarter. Institutional investors own 53.88% of the company’s stock.

About Northeast Bank (Get Rating)

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.

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Dividend History for Northeast Bank (NASDAQ:NBN)

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