Northeast Bancorp (NASDAQ:NBN) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Northeast Bancorp (NASDAQ:NBN) announced its earnings results on Monday. The financial services provider reported $3.42 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.01, Zacks reports. The firm had revenue of $64.27 million for the quarter, compared to the consensus estimate of $66.77 million. Northeast Bancorp had a net margin of 27.91% and a return on equity of 19.35%.

Northeast Bancorp Stock Performance

NASDAQ:NBN opened at $131.32 on Tuesday. Northeast Bancorp has a 12 month low of $80.75 and a 12 month high of $142.31. The firm has a market capitalization of $1.08 billion, a PE ratio of 10.32 and a beta of 0.60. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.35 and a quick ratio of 1.32. The business’s fifty day moving average price is $128.86 and its 200 day moving average price is $123.13.

Northeast Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Monday, November 9th will be paid a dividend of $0.01 per share. The ex-dividend date is Monday, November 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Northeast Bancorp’s payout ratio is presently 0.31%.

Wall Street Analysts Forecast Growth

Several research firms have commented on NBN. Piper Sandler boosted their price target on shares of Northeast Bancorp from $145.00 to $151.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Northeast Bancorp in a research note on Friday, July 31st. Finally, Keefe, Bruyette & Woods lifted their target price on Northeast Bancorp from $128.00 to $136.00 and gave the company a “market perform” rating in a report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.50.

Key Stories Impacting Northeast Bancorp

Here are the key news stories impacting Northeast Bancorp this week:

• Positive Sentiment: Northeast Bancorp reported fiscal first-quarter net income of $29.0 million, or $3.42 per diluted share, compared with $22.5 million, or $2.67 per share, in the prior-year quarter. EPS narrowly exceeded the $3.41 analyst consensus, while the 19.35% return on equity and 27.91% net margin indicate strong profitability. Northeast Bank Reports First Quarter Results and Declares Dividend
• Positive Sentiment: The earnings beat and year-over-year profit growth provide a favorable near-term catalyst for NBN, particularly as the stock trades at a relatively modest price-to-earnings ratio of about 10.3. Northeast Bank Fiscal Q1 Earnings Flash
• Neutral Sentiment: The bank declared a quarterly dividend of $0.01 per share, payable November 23 to shareholders of record November 9. The annualized payout is $0.04 per share, representing an approximately 0.0% yield, so the dividend is a modest shareholder return rather than a major income catalyst.
• Neutral Sentiment: Reported short interest was zero shares as of October 26, implying no measurable short-selling overhang or potential short-squeeze catalyst. Northeast Bank Fiscal Q1 Earnings, Revenue Rise
• Negative Sentiment: Quarterly revenue of $64.27 million fell short of the $66.77 million consensus estimate. The revenue miss could temper the market’s reaction to the EPS beat and raise questions about the durability of earnings growth. Northeast Bank Reports Earnings Results

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.