Northeast Bncp Down 0.03% To $36.24 After Earnings Beat

Northeast Bncp (NBN) said after close Monday that it earned $1.69 per share in quarter three 2023.

On the revenue line, the company reported $33.4 million, missing estimates by $503 thousand.

In the same quarter a year ago, the company earned $1.36 per share on revenue of $26.4 million.

The stock is down 0.03% to $36.24 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Northeast Bncp a Neutral Sentiment Rank from InvestorsObserver.

Northeast Bncp has performed a little below average during the past few months. Before the report, Northeast Bncp received a Long-Term Technical Rank by InvestorsObserver of 30, putting it in the bottom half of stocks. The firm was recently trading at a 52-week low of $33.15 on April 5, 2023 and set a 52-week high on December 13, 2022 at $48.5.

Northeast Bank provides banking and financial services to individual and corporate customers in the US. The firm conducts its loan-related activities through three primary channels: the Community Banking Division, the Loan Acquisition and Servicing Group, and the Small Business Administration Division. Its loan portfolio comprises residential mortgage loans; multi-family and other commercial real estate loans; commercial and industrial loans, consumer loans and small business administration loans. The firm also provides telephone banking, online banking, mobile banking, and remote deposit capture services. The revenue of the company is derived primarily from interest and dividends from the bank.