Northeast Community Bancorp (NASDAQ:NECB) Issues Earnings Results

Northeast Community Bancorp (NASDAQ:NECB) announced its quarterly earnings data on Friday. The savings and loans company reported $0.72 earnings per share for the quarter, missing the consensus estimate 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%. The company had revenue of $25.93 million during the quarter, compared to analyst estimates of $25.76 million.

Northeast Community Bancorp Stock Up 0.8%

Shares of NECB opened at $26.66 on Friday. Northeast Community Bancorp has a 52 week low of $19.27 and a 52 week high of $28.94. The stock has a market capitalization of $368.17 million, a price-to-earnings ratio of 8.54 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. The stock has a fifty day moving average of $25.80 and a 200-day moving average of $24.56.

Northeast Community Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 6th. Stockholders of record on Tuesday, July 7th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.8%. This is a boost from Northeast Community Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, July 7th. Northeast Community Bancorp’s dividend payout ratio (DPR) is currently 31.06%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NECB shares. Weiss Ratings reissued a “buy (b)” rating on shares of Northeast Community Bancorp in a report on Thursday, July 2nd. Freedom Capital upgraded shares of Northeast Community Bancorp to a “strong-buy” rating in a research report on Tuesday, March 31st. Finally, Piper Sandler upped their target price on Northeast Community Bancorp from $26.50 to $29.50 and gave the stock a “neutral” rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Northeast Community Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $29.50.

Institutional Investors Weigh In On Northeast Community Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of NECB. Jacobs Levy Equity Management Inc. raised its position in Northeast Community Bancorp by 3.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 20,582 shares of the savings and loans company’s stock valued at $423,000 after purchasing an additional 650 shares during the last quarter. Man Group plc increased its stake in shares of Northeast Community Bancorp by 4.0% in the third quarter. Man Group plc now owns 19,838 shares of the savings and loans company’s stock valued at $408,000 after buying an additional 767 shares during the period. IFP Advisors Inc increased its stake in shares of Northeast Community Bancorp by 78.4% in the third 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. Ameriprise Financial Inc. raised its holdings in Northeast Community Bancorp by 1.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 84,108 shares of the savings and loans company’s stock valued at $1,730,000 after buying an additional 935 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Northeast Community Bancorp by 193.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,457 shares of the savings and loans company’s stock valued at $30,000 after buying an additional 961 shares during the last quarter. Institutional investors own 53.25% of the company’s stock.

About Northeast Community Bancorp

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.