Northeast Bank (NASDAQ:NBN - Get Free Report)'s share price reached a new 52-week high during trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $107.15 and last traded at $107.20, with a volume of 15896 shares changing hands. The stock had previously closed at $103.13.
The financial services provider reported $2.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.56 by $0.18.
Northeast Bank Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date of this dividend is Tuesday, February 18th. Northeast Bank's payout ratio is presently 0.47%.
Analyst Ratings Changes
Separately, Keefe, Bruyette & Woods boosted their price objective on shares of Northeast Bank from $102.00 to $115.00 and gave the stock a "market perform" rating in a research note on Monday.
Get Our Latest Report on Northeast Bank
Hedge Funds Weigh In On Northeast Bank
A number of hedge funds have recently bought and sold shares of the business. Picton Mahoney Asset Management boosted its position in shares of Northeast Bank by 57.6% during the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the financial services provider's stock worth $30,000 after acquiring an additional 118 shares in the last quarter. R Squared Ltd bought a new stake in Northeast Bank during the fourth quarter worth $41,000. Quantbot Technologies LP bought a new stake in Northeast Bank during the third quarter worth $76,000. BNP Paribas Financial Markets lifted its position in shares of Northeast Bank by 36.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,647 shares of the financial services provider's stock worth $127,000 after buying an additional 442 shares during the last quarter. Finally, AlphaQuest LLC boosted its stake in Northeast Bank by 12,410.5% in the fourth quarter. AlphaQuest LLC now owns 2,377 shares of the financial services provider's stock valued at $218,000 after buying an additional 2,358 shares in the last quarter.
Northeast Bank Price Performance
The stock has a market cap of $877.90 million, a P/E ratio of 12.45 and a beta of 1.08. The stock has a 50-day simple moving average of $97.61 and a 200-day simple moving average of $85.64.
Northeast Bank Company Profile
(
Get Free Report)
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.
Further Reading
Before you consider Northeast Bank, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Northeast Bank wasn't on the list.
While Northeast Bank currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
