Northeast Bank (NASDAQ:NBN) Releases Earnings Results, Beats Estimates By $0.18 EPS

Northeast Bank (NASDAQ:NBN) issued its quarterly earnings data on Thursday. The financial services provider reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.18, Zacks reports.

Northeast Bank Stock Up 3.1 %

NASDAQ:NBN traded up $3.21 during mid-day trading on Thursday, hitting $106.34. 48,082 shares of the stock traded hands, compared to its average volume of 44,108. Northeast Bank has a 52 week low of $49.07 and a 52 week high of $108.00. The stock has a market capitalization of $873.05 million, a price-to-earnings ratio of 13.81 and a beta of 1.08. The firm’s 50 day moving average is $97.23 and its two-hundred day moving average is $85.01.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods assumed coverage on Northeast Bank in a report on Thursday, November 21st. They issued a “market perform” rating and a $102.00 target price for the company.

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.