Northeast Bancorp (NASDAQ:NBN) Stock to Pay Quarterly Dividend of $0.01

Northeast Bancorp (NASDAQ:NBN) declared a quarterly dividend on Monday, October 26th. Investors 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 NBN stock opened at $131.32 on Tuesday. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 10.32 and a beta of 0.60. The stock has a fifty day moving average of $128.86 and a 200 day moving average of $123.13. Northeast Bancorp has a 52 week low of $80.75 and a 52 week high of $142.31. 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 (NASDAQ:NBN) last issued its quarterly earnings data on Monday, October 26th. The financial services provider reported $3.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.41 by $0.01. Northeast Bancorp had a net margin of 27.91% and a return on equity of 19.35%. The business had revenue of $64.27 million for the quarter, compared to the consensus estimate of $66.77 million.

Hedge Funds Weigh In On Northeast Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of Northeast Bancorp during the second quarter valued at approximately $83,160,000. Dimensional Fund Advisors LP grew its stake in shares of Northeast Bancorp by 3.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 333,281 shares of the financial services provider’s stock worth $37,449,000 after buying an additional 11,168 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Northeast Bancorp by 161.6% in the 1st quarter. Bank of America Corp DE now owns 39,929 shares of the financial services provider’s stock worth $4,487,000 after buying an additional 24,668 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Northeast Bancorp during the 2nd quarter valued at approximately $4,747,000. Finally, Globeflex Capital L P bought a new position in Northeast Bancorp during the 2nd quarter valued at approximately $4,683,000.

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.