Northeast Community Bancorp Inc. (NASDAQ:NECB – Get Free Report) CFO Donald Hom sold 3,000 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $27.20, for a total transaction of $81,600.00. Following the transaction, the chief financial officer directly owned 4,714 shares of the company’s stock, valued at approximately $128,220.80. This represents a 38.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Northeast Community Bancorp Stock Performance
Shares of Northeast Community Bancorp stock traded down $0.42 during trading on Wednesday, reaching $27.05. The company’s stock had a trading volume of 38,757 shares, compared to its average volume of 43,761. Northeast Community Bancorp Inc. has a one year low of $19.27 and a one year high of $28.94. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market cap of $373.56 million, a price-to-earnings ratio of 8.67 and a beta of 0.35. The business’s fifty day moving average price is $25.94 and its 200-day moving average price is $24.64.
Northeast Community Bancorp (NASDAQ:NECB – Get Free Report) last released its earnings results on Friday, July 24th. The savings and loans company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.04). The business had revenue of $25.29 million during the quarter, compared to analyst estimates of $25.76 million. Northeast Community Bancorp had a net margin of 27.67% and a return on equity of 12.10%. As a group, equities research analysts predict that Northeast Community Bancorp Inc. will post 3.16 earnings per share for the current year.
Northeast Community Bancorp Increases Dividend
Institutional Trading of Northeast Community Bancorp
Several institutional investors have recently modified their holdings of the company. Larson Financial Group LLC acquired a new position in shares of Northeast Community Bancorp in the third quarter valued at $28,000. Russell Investments Group Ltd. boosted its stake in Northeast Community Bancorp by 193.8% during the third quarter. Russell Investments Group Ltd. now owns 1,457 shares of the savings and loans company’s stock worth $30,000 after buying an additional 961 shares in the last quarter. Harbour Investments Inc. boosted its stake in Northeast Community Bancorp by 109.9% during the fourth quarter. Harbour Investments Inc. now owns 1,522 shares of the savings and loans company’s stock worth $34,000 after buying an additional 797 shares in the last quarter. IFP Advisors Inc increased its holdings in Northeast Community Bancorp by 78.4% in the 3rd quarter. IFP Advisors Inc now owns 1,821 shares of the savings and loans company’s stock valued at $38,000 after buying an additional 800 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in Northeast Community Bancorp by 4,381.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,316 shares of the savings and loans company’s stock valued at $75,000 after buying an additional 3,242 shares during the period. Institutional investors and hedge funds own 53.25% of the company’s stock.
Wall Street Analysts Forecast Growth
NECB has been the subject of several research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Northeast Community Bancorp in a research note on Thursday, July 2nd. Freedom Capital upgraded shares of Northeast Community Bancorp to a “strong-buy” rating in a report on Tuesday, March 31st. Finally, Piper Sandler upped their price objective on shares of Northeast Community Bancorp from $26.50 to $29.50 and gave the company a “neutral” rating in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.50.
Read Our Latest Stock Report on NECB
Northeast Community Bancorp Company Profile
Northeast Community Bancorp is the bank holding company for Northeast Bank, a full-service community bank headquartered in DeKalb, Illinois. Through its principal subsidiary, the company provides a range of deposit and lending products designed to meet the financial needs of individuals, families and small to mid-sized businesses in the northern Illinois market.
The company’s loan portfolio encompasses consumer and mortgage lending, home equity lines of credit, commercial real estate financing, SBA-guaranteed loans and agricultural credits.
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