Hennessy Advisors Inc. Sells 10,000 Shares of Northeast Community Bancorp, Inc. (NASDAQ:NECB)

Hennessy Advisors Inc. decreased its position in Northeast Community Bancorp, Inc. (NASDAQ:NECB) by 28.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,000 shares of the savings and loans company’s stock after selling 10,000 shares during the quarter. Hennessy Advisors Inc. owned approximately 0.18% of Northeast Community Bancorp worth $586,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NECB. Empowered Funds LLC lifted its holdings in Northeast Community Bancorp by 5.0% in the fourth quarter. Empowered Funds LLC now owns 64,317 shares of the savings and loans company’s stock valued at $1,573,000 after acquiring an additional 3,075 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Northeast Community Bancorp by 11.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 74,391 shares of the savings and loans company’s stock worth $1,820,000 after buying an additional 7,412 shares during the period. New York State Common Retirement Fund raised its stake in shares of Northeast Community Bancorp by 45.4% in the fourth quarter. New York State Common Retirement Fund now owns 3,205 shares of the savings and loans company’s stock worth $78,000 after buying an additional 1,000 shares during the period. Quartz Partners LLC bought a new position in shares of Northeast Community Bancorp in the fourth quarter worth about $2,205,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Northeast Community Bancorp by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 60,279 shares of the savings and loans company’s stock worth $1,474,000 after buying an additional 1,435 shares during the period. Institutional investors own 53.25% of the company’s stock.

Northeast Community Bancorp Stock Down 3.5%

NASDAQ NECB opened at $22.17 on Monday. The stock’s 50-day moving average price is $22.61 and its 200-day moving average price is $23.85. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.02. Northeast Community Bancorp, Inc. has a 52 week low of $16.63 and a 52 week high of $31.72. The company has a market capitalization of $310.89 million, a P/E ratio of 6.19 and a beta of 0.45.

Northeast Community Bancorp (NASDAQ:NECB) last posted its quarterly earnings data on Monday, April 21st. The savings and loans company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.77 by $0.01. Northeast Community Bancorp had a return on equity of 15.96% and a net margin of 29.36%. The firm had revenue of $25.26 million for the quarter, compared to the consensus estimate of $25.49 million. On average, equities research analysts predict that Northeast Community Bancorp, Inc. will post 3.04 earnings per share for the current year.

Northeast Community Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 6th. Stockholders of record on Monday, April 7th were paid a $0.20 dividend. The ex-dividend date was Monday, April 7th. This represents a $0.80 annualized dividend and a dividend yield of 3.61%. This is an increase from Northeast Community Bancorp’s previous quarterly dividend of $0.15. Northeast Community Bancorp’s dividend payout ratio (DPR) is 22.86%.

Northeast Community Bancorp Company Profile

Northeast Community Bancorp, Inc operates as the holding company for NorthEast Community Bank that provides financial services for individuals and businesses. It accepts various deposit instruments, including checking accounts, money market accounts, regular savings accounts, and non-interest bearing demand accounts, as well as certificates of deposits.