Tearsheet

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.7%
Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 127x
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 22%
Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -6.2%
2 Low stock price volatility
Vol 12M is 37%
Key risks
NBN key risks include [1] credit quality vulnerabilities stemming from its unique loan acquisition strategy and substantial SBA portfolio concentration, Show more.
3 Megatrend and thematic drivers
Megatrends include Financial Services & Lending, and Fintech & Digital Payments. Themes include Small Business Lending, Commercial Real Estate Financing, Show more.
 
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.7%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 22%
2 Low stock price volatility
Vol 12M is 37%
3 Megatrend and thematic drivers
Megatrends include Financial Services & Lending, and Fintech & Digital Payments. Themes include Small Business Lending, Commercial Real Estate Financing, Show more.
4 Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 127x
5 Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -6.2%
6 Key risks
NBN key risks include [1] credit quality vulnerabilities stemming from its unique loan acquisition strategy and substantial SBA portfolio concentration, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Northeast Bank (NBN) stock has gained about 20% since 11/30/2025 because of the following key factors:

1. Strong Quarterly Earnings and Profitability.

Northeast Bank reported robust financial results during the period, consistently demonstrating strong profitability. For instance, the Q2 Fiscal 2026 results, ending December 31, 2025, and reported on January 26, 2026, showed a net income of $20.7 million, or $2.47 per diluted share, surpassing analyst estimates of $2.38 by $0.09. This followed a strong Q1 Fiscal 2026 (ended September 30, 2025), announced on October 28, 2025, with net income increasing by 31.6% year-over-year to $22.5 million and diluted EPS reaching $2.67. The bank also maintained a solid net interest margin of 4.49% for the quarter ended December 31, 2025.

2. Significant Loan Portfolio Expansion.

The company demonstrated substantial growth in its loan portfolio through strategic purchases. On December 17, 2025, Northeast Bank announced it had purchased or entered into agreements to purchase approximately $525 million in commercial real estate loans since September 30, 2025. This volume was noted as the bank's third-highest since it began purchasing loans and resulted in an 8.63% stock gain on the day of the announcement. This expansion contributed to total loans climbing to $4.35 billion by December 31, 2025, representing a 15.8% increase from June 30, 2025, fueled by nearly $896 million in quarterly loan volume.

Show more

Stock Movement Drivers

Fundamental Drivers

The 22.4% change in NBN stock from 11/30/2025 to 3/29/2026 was primarily driven by a 25.4% change in the company's P/E Multiple.
(LTM values as of)113020253292026Change
Stock Price ($)88.87108.8022.4%
Change Contribution By: 
Total Revenues ($ Mil)212209-1.5%
Net Income Margin (%)41.9%41.8%-0.4%
P/E Multiple8.310.425.4%
Shares Outstanding (Mil)88-0.5%
Cumulative Contribution22.4%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 3/29/2026
ReturnCorrelation
NBN22.4% 
Market (SPY)-5.3%30.0%
Sector (XLF)-10.0%44.9%

Fundamental Drivers

The -1.6% change in NBN stock from 8/31/2025 to 3/29/2026 was primarily driven by a -16.2% change in the company's P/E Multiple.
(LTM values as of)83120253292026Change
Stock Price ($)110.53108.80-1.6%
Change Contribution By: 
Total Revenues ($ Mil)18420913.6%
Net Income Margin (%)39.9%41.8%4.6%
P/E Multiple12.410.4-16.2%
Shares Outstanding (Mil)88-1.2%
Cumulative Contribution-1.6%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 3/29/2026
ReturnCorrelation
NBN-1.6% 
Market (SPY)0.6%34.7%
Sector (XLF)-10.8%47.2%

Fundamental Drivers

The 8.4% change in NBN stock from 2/28/2025 to 3/29/2026 was primarily driven by a 22.3% change in the company's Total Revenues ($ Mil).
(LTM values as of)22820253292026Change
Stock Price ($)100.38108.808.4%
Change Contribution By: 
Total Revenues ($ Mil)17120922.3%
Net Income Margin (%)40.2%41.8%4.0%
P/E Multiple11.810.4-11.9%
Shares Outstanding (Mil)88-3.2%
Cumulative Contribution8.4%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2025 to 3/29/2026
ReturnCorrelation
NBN8.4% 
Market (SPY)9.8%45.3%
Sector (XLF)-7.1%52.9%

Fundamental Drivers

The 147.3% change in NBN stock from 2/28/2023 to 3/29/2026 was primarily driven by a 94.4% change in the company's Total Revenues ($ Mil).
(LTM values as of)22820233292026Change
Stock Price ($)44.00108.80147.3%
Change Contribution By: 
Total Revenues ($ Mil)10720994.4%
Net Income Margin (%)37.7%41.8%10.8%
P/E Multiple7.910.431.5%
Shares Outstanding (Mil)78-12.7%
Cumulative Contribution147.3%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2023 to 3/29/2026
ReturnCorrelation
NBN147.3% 
Market (SPY)69.4%42.3%
Sector (XLF)40.5%55.1%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
NBN Return59%18%31%66%13%5%387%
Peers Return98%-28%44%-3%9%6%130%
S&P 500 Return27%-19%24%23%16%-5%72%

Monthly Win Rates [3]
NBN Win Rate75%50%67%58%58%33% 
Peers Win Rate70%37%55%52%55%60% 
S&P 500 Win Rate75%42%67%75%67%33% 

Max Drawdowns [4]
NBN Max Drawdown0%-5%-20%-10%-12%-1% 
Peers Max Drawdown-4%-37%-30%-22%-19%-4% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-5% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: BHB, CAC, CUBI, LOB, MBIN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/27/2026 (YTD)

How Low Can It Go

Unique KeyEventNBNS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-29.3%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven41.5%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven112 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-60.6%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven154.0%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven243 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-45.4%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven83.3%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven808 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-67.2%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven204.6%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven3,104 days1,480 days

Compare to BHB, CAC, CUBI, LOB, MBIN

In The Past

Northeast Bank's stock fell -29.3% during the 2022 Inflation Shock from a high on 2/3/2023. A -29.3% loss requires a 41.5% gain to breakeven.

Preserve Wealth

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Asset Allocation

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About Northeast Bank (NBN)

Northeast Bank provides personal and business banking services in Maine, the United States. 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. In addition, the company offers telephone banking, online banking and bill payment, mobile banking, cash management, and remote deposit capture services, as well as debit and credit card, ATM, electronic transfer, and check services. It operates a network of nine branches in Western, Central, and Southern Maine. Northeast Bank was founded in 1872 and is headquartered in Portland, Maine.

AI Analysis | Feedback

It's essentially the **Bank of America for Maine**.

Think of it as **KeyBank, but solely operating within Maine**.

AI Analysis | Feedback

  • Deposit Accounts: Northeast Bank offers various deposit products including checking, savings, money market, NOW, certificates of deposit, and individual retirement accounts.
  • Loan Services: The bank provides a comprehensive loan portfolio, which includes residential mortgages, multi-family and commercial real estate loans, commercial and industrial loans, consumer loans, and Small Business Administration (SBA) loans.
  • Digital Banking & Payment Services: Customers can access modern banking conveniences such as telephone banking, online and mobile banking with bill payment, cash management, remote deposit capture, and debit and credit card services.

AI Analysis | Feedback

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Northeast Bank (NBN) sells primarily to individuals and other companies within its service area in Maine. Based on the company description, its major customer categories are:

  • Individuals/Consumers: This category includes individuals seeking personal banking services such as demand deposit, NOW, money market, savings, certificate of deposit, individual retirement, and checking accounts. They also utilize residential mortgage loans, consumer loans (e.g., mobile home, overdraft, deposit-secured loans), and various electronic banking services.
  • Businesses (Small to Medium-Sized): This category encompasses various commercial enterprises in need of business banking services. These customers utilize business deposit products, commercial and industrial loans (e.g., term loans, lines of credit, equipment and receivables financing), and Small Business Administration (SBA) loans. They also benefit from services like cash management and remote deposit capture.
  • Commercial Real Estate Investors/Developers: A specific segment of business customers focused on property. These clients utilize multi-family and other commercial real estate loans for their investment and development projects.
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Richard Wayne, President, Chief Executive Officer and Director

Richard Wayne was appointed CEO in December 2010. He co-founded Capital Crossing Bank in Boston, Massachusetts, serving as its President and Co-Chief Executive Officer from 1991 until its sale in February 2007. Capital Crossing Bank was a national leader in the acquisition and management of commercial loans. Prior to that, he was a Partner at Wayne, Lazares & Chappell from 1980 to 1991 and an Associate at Coopers & Lybrand beginning in 1977. In 2010, a group of investors led by Mr. Wayne took over Northeast Bank and transformed its operating model by acquiring small-balance commercial loans in the secondary market. He holds a J.D. from Suffolk University Law School, an LL.M. in Taxation from Boston University School of Law, and a B.S. in Accounting from Syracuse University. He is also the bank's largest shareholder.

Santino Delmolino, Chief Financial Officer and Corporate Controller

Santino Delmolino assumed the role of Chief Financial Officer effective October 31, 2025, succeeding Richard Cohen. He previously served as the Corporate Controller of Northeast Bank. Before joining Northeast Bank in 2024, he held positions as Director and Senior Manager in the accounting department at Fidelity Investments. Prior to that, he was a Senior Manager in KPMG's audit practice. Mr. Delmolino holds a Bachelor of Science degree in Business Administration and a Master of Science degree in Accounting from Western New England University and is a certified public accountant licensed in Massachusetts.

Patrick Dignan, Executive Vice President and Chief Operating Officer

Patrick Dignan has worked alongside CEO Rick Wayne for several decades, both at Northeast Bank and previously at Capital Crossing Bank. They were part of the investor group that took over Northeast Bank in 2010 and implemented a strategy focused on acquiring small-balance commercial loans.

Robert Banaski, Senior Vice President and Chief Retail Banking Officer

Robert Banaski serves as the Senior Vice President and Chief Retail Banking Officer.

Julie A. Jenkins, Senior Vice President and Chief Information Officer

Julie A. Jenkins holds the position of Senior Vice President and Chief Information Officer.

AI Analysis | Feedback

The following are key risks to Northeast Bank (NBN):
  1. Credit Risk, particularly Commercial Real Estate (CRE) Exposure and Economic Downturns: A significant portion of Northeast Bank's assets is comprised of loans, including residential mortgage, multi-family, and other commercial real estate loans. An economic downturn, especially within its operating region of Maine, or a decline in specific sectors such as commercial real estate, could lead to increased loan defaults and negatively impact the bank's asset quality and profitability. High interest rates are making it difficult for investors to refinance CRE loans, and alongside lower property values and reduced demand for office spaces, this could result in more defaults. Regional banks, including Northeast Bank, often have substantial concentrations in CRE debt, increasing their vulnerability. Northeast Bank's forward-looking statements also explicitly mention the risk of higher future credit losses due to changes in economic assumptions or adverse economic developments.

  2. Interest Rate Risk and Net Interest Margin (NIM) Compression: Northeast Bank's profitability is fundamentally tied to the spread between the interest it earns on loans and investments and the interest it pays on deposits. Significant and rapid fluctuations in interest rates, particularly rising funding costs for deposits, can compress this net interest margin, directly impacting the bank's earnings. The need to offer competitive interest rates to retain customers, against a backdrop of higher yields on U.S. Treasuries, poses a notable challenge for regional banks. The bank's own disclosures identify "changes in interest rates" as a factor affecting its performance.

  3. Liquidity Risk and Deposit Competition: The ability to attract and retain stable, low-cost deposits is critical for Northeast Bank to fund its lending activities and meet its obligations. Increased competition for deposits from other financial institutions and alternative investment options, coupled with shifts in customer behavior (e.g., seeking higher-yielding accounts), can lead to higher funding costs or deposit outflows. This dynamic can place significant liquidity pressure on the bank, potentially necessitating increased borrowing to support its loan growth and operations. Concerns about liquidity and changes in deposit levels are among the risks Northeast Bank highlights in its forward-looking statements.

AI Analysis | Feedback

The clear emerging threat for Northeast Bank is the rise of digital-only banks (neobanks) and specialized FinTech platforms. These entities operate without the overhead of physical branches, allowing them to offer more competitive rates on deposits and loans (such as consumer and small business loans), alongside seamless digital user experiences. This model directly challenges Northeast Bank's traditional branch-based operations and its ability to attract and retain customers who increasingly prioritize digital convenience and competitive pricing over a physical branch presence.

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Here are the addressable market sizes for Northeast Bank's main products and services in Maine, United States:

  • Total Banking Deposits: The total banking deposits in Maine were $44.2 billion in 2024.
  • Residential Mortgage Loans: New home loans booked in Maine amounted to $3.4 billion in 2024.
  • Small Business Loans: The market for small business loans in Maine was $3.1 billion in 2024.
  • Commercial Banking (including Commercial Real Estate and Commercial & Industrial Loans): The commercial banking industry in Maine, which includes receiving deposits and issuing consumer, commercial, and industrial loans, is projected to have a market size of $3.5 billion in 2026.

For consumer loans (comprising mobile home, overdraft, and deposit-secured loans) and digital banking services (including telephone banking, online banking, bill payment, mobile banking, cash management, remote deposit capture, debit and credit card, ATM, electronic transfer, and check services), specific addressable market sizes for Maine were not available.

AI Analysis | Feedback

Here are 3-5 expected drivers of future revenue growth for Northeast Bank (NBN) over the next 2-3 years:
  1. Loan Volume Growth: Northeast Bank anticipates continued robust loan activity, particularly in purchased and originated loans, which is expected to provide a strong tailwind for net interest income in future quarters. The bank reported significant loan volume growth in the second fiscal quarter of 2026, totaling $895.7 million, including a record $252.4 million of National Lending originated loans and $532.9 million of purchased loans.
  2. SBA Loan Originations and Sales: The bank expects an increase in SBA loan originations and sales, which management projects will lead to higher net interest income. Despite temporary impacts from regulatory changes or government shutdowns, the SBA lending business, as part of its National Lending Division, has demonstrated substantial year-over-year growth in originations and sales.
  3. Commercial Real Estate (CRE) Originations: Originated commercial real estate loans represent a significant portion of Northeast Bank's loan portfolio, accounting for approximately 25% of its total loan book. The bank has reported significant commercial real estate origination activity, contributing to its overall loan growth.
  4. Expansion of National Lending Division: The National Lending Division is a key growth driver, enabling the bank to achieve growth that significantly exceeds its peers through a high-margin, niche strategy. This division actively purchases and originates commercial loans across the nation, expanding the bank's reach beyond its traditional Maine branch network.
  5. Strategic Technology Investments: Northeast Bank plans significant investments in technology, which, while not a direct revenue driver, are expected to enhance operational efficiency, improve customer service, and potentially enable new products or services, thereby indirectly supporting future revenue growth.

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Share Repurchases

  • Northeast Bank authorized a new share repurchase program on April 21, 2022, allowing for the repurchase of 1,000,000 shares of common stock, or up to $40.0 million. This program was set to expire on April 13, 2023.
  • Multiple repurchase programs have been initiated since 2023, including a 2024 authorization to repurchase up to 10 percent of outstanding common stock.
  • These executed repurchase programs have resulted in a reduction of the company's float by an estimated 6-9 percent.

Share Issuance

  • On December 9, 2024, Northeast Bank commenced an at-the-market offering of voting common stock with an aggregate offering price of up to $75,000,000.00.
  • The net proceeds from this offering are intended for general corporate purposes, including supporting additional growth.
  • The number of shares outstanding for Northeast Bank increased from 7.25 million in 2022 to 8.27 million in 2025, suggesting net share issuance or dilution during this period.

Capital Expenditures

  • Over the past twelve months, Northeast Bank reported capital expenditures of $269,000.00.

Trade Ideas

Select ideas related to NBN.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
NDAQ_2282026_Insider_Buying_45D_2Buy_200K02282026NDAQNasdaqInsiderInsider Buys 45DStrong Insider Buying
Companies with multiple insider buys in the last 45 days
0.0%0.0%0.0%
JEF_2272026_Dip_Buyer_ValueBuy02272026JEFJefferies FinancialDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
0.0%0.0%0.0%
ALAB_2272026_Dip_Buyer_High_CFO_Margins_ExInd_DE02272026ALABAstera LabsDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
0.0%0.0%0.0%
PAYO_2272026_Dip_Buyer_High_CFO_Margins_ExInd_DE02272026PAYOPayoneer GlobalDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
0.0%0.0%0.0%
FOUR_2272026_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG02272026FOURShift4 PaymentsDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
0.0%0.0%0.0%

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

NBNBHBCACCUBILOBMBINMedian
NameNortheas.Bar Harb.Camden N.Customer.Live Oak.Merchant. 
Mkt Price108.8031.8146.2067.6632.0942.2744.23
Mkt Cap0.90.50.82.31.51.91.2
Rev LTM209168248801541677395
Op Inc LTM-------
FCF LTM64358334143-37751
FCF 3Y Avg204359166130-53151
CFO LTM74864495158-34156
CFO 3Y Avg224964255167-51157

Growth & Margins

NBNBHBCACCUBILOBMBINMedian
NameNortheas.Bar Harb.Camden N.Customer.Live Oak.Merchant. 
Rev Chg LTM22.3%12.5%43.8%16.6%12.4%1.5%14.6%
Rev Chg 3Y Avg24.9%4.5%13.1%8.8%11.4%16.0%12.2%
Rev Chg Q-6.2%31.3%43.6%53.8%17.0%-4.5%24.1%
QoQ Delta Rev Chg LTM-1.5%7.4%8.8%11.3%3.7%-1.3%5.6%
Op Mgn LTM-------
Op Mgn 3Y Avg-------
QoQ Delta Op Mgn LTM-------
CFO/Rev LTM3.4%28.7%25.7%61.7%29.2%-50.4%27.2%
CFO/Rev 3Y Avg14.2%31.6%34.7%33.2%35.1%-79.8%32.4%
FCF/Rev LTM2.9%25.8%23.4%41.6%26.5%-55.6%24.6%
FCF/Rev 3Y Avg13.3%27.5%32.3%21.5%27.1%-82.9%24.3%

Valuation

NBNBHBCACCUBILOBMBINMedian
NameNortheas.Bar Harb.Camden N.Customer.Live Oak.Merchant. 
Mkt Cap0.90.50.82.31.51.91.2
P/S4.33.23.12.92.72.93.0
P/EBIT-------
P/E10.414.412.010.313.98.911.2
P/CFO126.711.012.24.79.3-5.710.2
Total Yield9.7%10.8%12.0%9.7%7.6%11.3%10.2%
Dividend Yield0.0%3.8%3.6%0.0%0.4%0.0%0.2%
FCF Yield 3Y Avg4.1%9.1%9.6%7.7%7.3%-31.7%7.5%
D/E0.60.50.50.70.12.00.5
Net D/E0.1-0.8-0.8-2.0-1.11.5-0.8

Returns

NBNBHBCACCUBILOBMBINMedian
NameNortheas.Bar Harb.Camden N.Customer.Live Oak.Merchant. 
1M Rtn-1.9%-1.4%0.1%0.3%-11.5%0.2%-0.7%
3M Rtn2.6%0.7%4.7%-10.6%-8.8%25.7%1.7%
6M Rtn6.0%4.7%18.6%0.3%-11.1%32.6%5.4%
12M Rtn19.4%11.3%18.6%34.9%21.2%15.4%19.0%
3Y Rtn223.3%41.1%50.0%270.1%35.0%64.0%57.0%
1M Excs Rtn1.7%1.7%3.6%1.8%-10.7%4.2%1.7%
3M Excs Rtn9.1%8.5%12.3%-3.4%-2.4%33.3%8.8%
6M Excs Rtn9.0%8.1%24.6%4.8%-8.1%36.1%8.6%
12M Excs Rtn4.7%-2.7%4.5%18.4%6.7%1.1%4.6%
3Y Excs Rtn133.3%-24.5%-18.9%210.0%-34.9%1.0%-8.9%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment15112210513676
Total15112210513676


Price Behavior

Price Behavior
Market Price$108.80 
Market Cap ($ Bil)0.9 
First Trading Date08/20/1987 
Distance from 52W High-13.2% 
   50 Days200 Days
DMA Price$114.00$101.43
DMA Trendupup
Distance from DMA-4.6%7.3%
 3M1YR
Volatility34.0%37.2%
Downside Capture0.130.54
Upside Capture46.8481.55
Correlation (SPY)28.7%44.2%
NBN Betas & Captures as of 2/28/2026

 1M2M3M6M1Y3Y
Beta0.960.871.001.160.890.96
Up Beta1.792.762.872.060.780.88
Down Beta0.281.070.961.441.141.13
Up Capture79%42%123%67%71%104%
Bmk +ve Days9203170142431
Stock +ve Days8193158123379
Down Capture106%1%-24%87%88%95%
Bmk -ve Days12213054109320
Stock -ve Days13223066128369

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with NBN
NBN16.2%37.1%0.48-
Sector ETF (XLF)-4.0%19.2%-0.3351.6%
Equity (SPY)14.5%18.9%0.5944.2%
Gold (GLD)50.2%27.7%1.461.2%
Commodities (DBC)17.8%17.6%0.8514.9%
Real Estate (VNQ)0.4%16.4%-0.1538.0%
Bitcoin (BTCUSD)-23.7%44.2%-0.4923.4%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with NBN
NBN31.9%32.9%0.90-
Sector ETF (XLF)9.1%18.7%0.3746.5%
Equity (SPY)11.8%17.0%0.5435.8%
Gold (GLD)20.7%17.7%0.963.1%
Commodities (DBC)11.6%18.9%0.5011.5%
Real Estate (VNQ)3.0%18.8%0.0733.7%
Bitcoin (BTCUSD)4.0%56.6%0.2914.5%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with NBN
NBN26.7%40.6%0.72-
Sector ETF (XLF)12.0%22.1%0.5046.7%
Equity (SPY)14.0%17.9%0.6737.6%
Gold (GLD)13.3%15.8%0.702.1%
Commodities (DBC)8.2%17.6%0.3915.8%
Real Estate (VNQ)4.7%20.7%0.1937.7%
Bitcoin (BTCUSD)66.4%66.8%1.0613.0%

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Short Interest

Short Interest: As Of Date3132026
Short Interest: Shares Quantity0.4 Mil
Short Interest: % Change Since 228202625.0%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest3.8 days
Basic Shares Quantity8.3 Mil
Short % of Basic Shares5.2%

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
SUMMARY STATS   
# Positive000
# Negative000
Median Positive   
Median Negative   
Max Positive   
Max Negative   

SEC Filings

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Report DateFiling DateFiling
03/31/201905/08/201910-Q
12/31/201802/08/201910-Q
09/30/201811/09/201810-Q
06/30/201809/13/201810-K
03/31/201805/10/201810-Q
12/31/201702/09/201810-Q
09/30/201711/09/201710-Q
06/30/201709/13/201710-K
03/31/201705/10/201710-Q
12/31/201602/09/201710-Q
09/30/201611/09/201610-Q
06/30/201609/13/201610-K
03/31/201605/13/201610-Q
12/31/201502/12/201610-Q
09/30/201511/13/201510-Q
06/30/201509/30/201510-K