Northeast Bancorp (NASDAQ:NBN) Declares Quarterly Dividend of $0.01

Key Points

• Northeast Bancorp declared a quarterly dividend of $0.01 per share, payable November 23 to shareholders of record on November 9. The annualized dividend is $0.04, with a 0.3% payout ratio.
• The company reported quarterly earnings of $3.42 per share, slightly exceeding analyst estimates of $3.41, while revenue of $64.27 million fell short of the $66.77 million consensus estimate.
• Northeast Bancorp shares opened at $131.32, with a market capitalization of approximately $1.08 billion and a 52-week trading range of $80.75 to $142.31.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) declared a quarterly dividend on Monday, October 26th. Stockholders of record on Monday, November 9th will be paid a dividend of $0.01 per share by the financial services provider on Monday, November 23rd. This represents a $0.04 dividend on an annualized basis 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

Shares of NASDAQ:NBN opened at $131.32 on Tuesday. The firm has a fifty day simple moving average of $128.86 and a two-hundred day simple moving average of $123.13. The company has a quick ratio of 1.32, a current ratio of 1.35 and a debt-to-equity ratio of 1.42. Northeast Bancorp has a 52 week low of $80.75 and a 52 week high of $142.31. The stock has a market capitalization of $1.08 billion, a P/E ratio of 10.32 and a beta of 0.60.

Northeast Bancorp (NASDAQ:NBN - Get Free Report) last posted its quarterly earnings data on Monday, October 26th. The financial services provider reported $3.42 earnings per share for the quarter, topping analysts' consensus estimates of $3.41 by $0.01. The company had revenue of $64.27 million for the quarter, compared to analyst estimates of $66.77 million. Northeast Bancorp had a net margin of 27.91% and a return on equity of 19.35%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in shares of Northeast Bancorp by 105.6% during the second quarter. GAMMA Investing LLC now owns 185 shares of the financial services provider's stock worth $25,000 after buying an additional 95 shares in the last quarter. OP Asset Management Ltd acquired a new stake in shares of Northeast Bancorp in the first quarter worth $33,000. Fortitude Family Office LLC raised its position in Northeast Bancorp by 368.1% in the third quarter. Fortitude Family Office LLC now owns 323 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 254 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Northeast Bancorp during the 2nd quarter worth approximately $72,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of Northeast Bancorp by 160.7% during the third quarter. Nisa Investment Advisors LLC now owns 743 shares of the financial services provider's stock worth $92,000 after purchasing an additional 458 shares in the last quarter.

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.

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