Northeast Bank (NASDAQ:NBN) Releases Quarterly Earnings Results, Misses Expectations By $0.60 EPS

Northeast Bank (NASDAQ:NBN - Get Free Report) released its quarterly earnings results on Tuesday. The financial services provider reported $2.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.83 by ($0.60), Zacks reports. The company had revenue of $52.57 million during the quarter, compared to analysts' expectations of $50.09 million.

Northeast Bank Stock Performance

NASDAQ:NBN traded up $1.54 during mid-day trading on Friday, reaching $83.57. The stock had a trading volume of 38,139 shares, compared to its average volume of 43,457. Northeast Bank has a twelve month low of $53.69 and a twelve month high of $110.35. The business has a 50 day simple moving average of $90.15 and a 200 day simple moving average of $94.79. The firm has a market capitalization of $685.78 million, a price-to-earnings ratio of 9.73 and a beta of 0.60.

Northeast Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.04 annualized dividend and a yield of 0.05%. Northeast Bank's dividend payout ratio is currently 0.44%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods boosted their target price on Northeast Bank from $102.00 to $115.00 and gave the company a "market perform" rating in a report on Monday, February 10th.

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.