Notable News Spotlight: Northeast Bank (NASDAQ: NBN)

Northeast Bank (NASDAQ: NBN) changed -1.27% to recent value of $21.06. The stock transacted 16821 shares during most recent day however it has an average volume of 20.65K shares. It spotted trading -23.64% off 52-week high price. On the other end, the stock has been noted 35.52% away from the low price over the last 52-weeks.

On July 30, 2019, Northeast Bank  (NASDAQ: NBN), a Maine-based full-service financial institution,  reported a net loss of $603 thousand, or ($0.07) per diluted common share, for the quarter ended June 30, 2019, compared to net income of $4.3 million, or $0.48 per diluted common share, for the quarter ended June 30, 2018. Net income for the year ended June 30, 2019 was $13.9 million, or $1.52 per diluted common share, compared to $16.2 million, or $1.77 per diluted common share, for the year ended June 30, 2018.

The current quarter and year-end results included $6.0 million and $6.4 million, respectively, of non-recurring expenses (after tax) related to the Bank’s recently completed corporate reorganization. Excluding these non-recurring expenses, the Bank recorded net operating earnings (non-GAAP) of $5.4 million, or $0.59 per diluted common share, for the quarter ended June 30, 2019 and $20.3 million, or $2.20 per diluted common share, for the year ended June 30, 2019.  We refer to results excluding these non-recurring items as net operating earnings.

NBN has a an operating margin of 75.30% while its profit margin remained 24.40% for the last 12 months. Its earnings per share (EPS) expected to touch remained 32.40% for this year.

The company has 8.99M of outstanding shares and 8.48M shares were floated in the market.  The price moved ahead of -0.07% from the mean of 20 days, 0.02% from mean of 50 days SMA and performed 4.72% from mean of 200 days price. Company’s performance for the week was -0.09%, -23.64% for month and YTD performance remained 25.88%.

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