Northeast Community Bancorp (NASDAQ:NECB) Announces Earnings Results, Misses Expectations By $0.04 EPS

Northeast Community Bancorp (NASDAQ:NECBGet Free Report) posted its earnings results on Friday. 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), Zacks reports. Northeast Community Bancorp had a net margin of 28.16% and a return on equity of 12.62%.

Northeast Community Bancorp Stock Up 0.8%

Shares of NASDAQ:NECB traded up $0.20 during mid-day trading on Friday, hitting $26.66. 24,318 shares of the company traded hands, compared to its average volume of 43,658. The firm’s 50 day simple moving average is $25.73 and its 200 day simple moving average is $24.55. The firm has a market cap of $368.11 million, a P/E ratio of 8.28 and a beta of 0.35. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.17 and a current ratio of 1.17. Northeast Community Bancorp has a 52-week low of $19.27 and a 52-week high of $28.94.

Northeast Community Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 6th. Shareholders of record on Tuesday, July 7th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.8%. This is a boost from Northeast Community Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, July 7th. Northeast Community Bancorp’s dividend payout ratio is 31.06%.

Analyst Ratings Changes

NECB has been the subject of several research analyst reports. Piper Sandler upped their price target on shares of Northeast Community Bancorp from $26.50 to $29.50 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Northeast Community Bancorp in a report on Thursday, July 2nd. Finally, Freedom Capital raised shares of Northeast Community Bancorp to a “strong-buy” rating in a research note on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Northeast Community Bancorp has an average rating of “Moderate Buy” and an average target price of $29.50.

Read Our Latest Report on Northeast Community Bancorp

Hedge Funds Weigh In On Northeast Community Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NECB. State of Tennessee Department of Treasury raised its position in shares of Northeast Community Bancorp by 182.5% during the 4th quarter. State of Tennessee Department of Treasury now owns 23,619 shares of the savings and loans company’s stock valued at $557,000 after acquiring an additional 15,257 shares in the last quarter. EP Wealth Advisors LLC bought a new position in Northeast Community Bancorp during the fourth quarter worth $239,000. Mackenzie Financial Corp acquired a new position in Northeast Community Bancorp in the fourth quarter worth $710,000. Empowered Funds LLC increased its stake in Northeast Community Bancorp by 10.7% during the fourth quarter. Empowered Funds LLC now owns 79,197 shares of the savings and loans company’s stock valued at $1,791,000 after purchasing an additional 7,686 shares during the last quarter. Finally, Man Group plc increased its stake in Northeast Community Bancorp by 5.6% during the fourth quarter. Man Group plc now owns 20,957 shares of the savings and loans company’s stock valued at $474,000 after purchasing an additional 1,119 shares during the last quarter. 53.25% of the stock is owned by hedge funds and other institutional investors.

Northeast Community Bancorp Company Profile

(Get Free Report)

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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Earnings History for Northeast Community Bancorp (NASDAQ:NECB)

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