Northeast Bank (NASDAQ:NBN) Announces Earnings Results

Northeast Bank (NASDAQ:NBN) announced its quarterly earnings data on Tuesday. The financial services provider reported $2.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.34, Yahoo Finance reports. During the same quarter in the previous year, the firm posted $2.01 earnings per share.

Northeast Bank Stock Up 5.3 %

Northeast Bank stock traded up $4.62 during midday trading on Wednesday, reaching $92.61. 6,699 shares of the company traded hands, compared to its average volume of 29,204. Northeast Bank has a 12 month low of $47.22 and a 12 month high of $93.35. The business has a 50 day moving average of $75.03 and a two-hundred day moving average of $65.07.

Wall Street Analyst Weigh In

Separately, Piper Sandler reiterated an “overweight” rating and set a $80.00 price target on shares of Northeast Bank in a report on Wednesday, September 11th.

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.