Northeast Community Bancorp Inc. (NASDAQ:NECB – Get Free Report) Director John Mckenzie sold 9,700 shares of the company’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $29.29, for a total value of $284,113.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Northeast Community Bancorp Trading Up 2.3%
Shares of NECB opened at $29.87 on Thursday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $411.31 million, a P/E ratio of 9.83 and a beta of 0.37. The stock’s fifty day simple moving average is $27.34 and its 200 day simple moving average is $25.57. Northeast Community Bancorp Inc. has a twelve month low of $19.39 and a twelve month high of $30.12.
Northeast Community Bancorp (NASDAQ:NECB – Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The savings and loans company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.03). The firm had revenue of $25.91 million for the quarter, compared to analysts’ expectations of $27.96 million. Northeast Community Bancorp had a net margin of 27.21% and a return on equity of 11.55%. On average, equities research analysts forecast that Northeast Community Bancorp Inc. will post 3.24 earnings per share for the current year.
Northeast Community Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 9th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, October 9th. Northeast Community Bancorp’s dividend payout ratio is currently 32.89%.
Wall Street Analyst Weigh In
NECB has been the topic of a number of recent research reports. Zacks Research raised shares of Northeast Community Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 7th. Freedom Broker raised their price target on shares of Northeast Community Bancorp from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, October 26th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northeast Community Bancorp in a research note on Tuesday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $30.25.
View Our Latest Report on NECB
Institutional Investors Weigh In On Northeast Community Bancorp
Several institutional investors and hedge funds have recently made changes to their positions in NECB. Allspring Global Investments Holdings LLC boosted its holdings in shares of Northeast Community Bancorp by 4.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 23,463 shares of the savings and loans company’s stock valued at $618,000 after buying an additional 944 shares during the period. Benjamin Edwards Inc. bought a new stake in shares of Northeast Community Bancorp during the 2nd quarter valued at about $486,000. Empowered Funds LLC bought a new stake in shares of Northeast Community Bancorp during the 2nd quarter valued at about $2,690,000. Public Employees Retirement System of Ohio bought a new stake in shares of Northeast Community Bancorp during the 2nd quarter valued at about $149,000. Finally, Raffles Associates LP acquired a new stake in Northeast Community Bancorp during the second quarter worth about $1,651,000. 53.25% of the stock is owned by institutional investors and hedge funds.
Northeast Community Bancorp Company Profile
Northeast Community Bancorp, Inc is the holding company for Northeast Community Bank, a community-oriented savings bank headquartered in New York. The bank provides retail and commercial banking services to individuals, families, businesses and community organizations through its branch network in New York and New Jersey.
Northeast Community Bank offers deposit products such as checking, savings, money market and certificate of deposit accounts. Its lending activities include residential and multifamily real estate loans, commercial real estate financing, construction loans, home equity products and other loans for businesses and consumers.
The company emphasizes relationship-based banking and focuses on serving local markets, including communities in the New York metropolitan area and surrounding regions.
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