Insider Selling: Northeast Community Bancorp (NASDAQ:NECB) CFO Sells $81,600.00 in Stock

Northeast Community Bancorp Inc. (NASDAQ:NECB) CFO Donald Hom sold 3,000 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $27.20, for a total transaction of $81,600.00. Following the completion of the sale, the chief financial officer directly owned 4,714 shares in the company, valued at approximately $128,220.80. The trade was a 38.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Northeast Community Bancorp Price Performance

NECB traded down $0.42 during midday trading on Wednesday, reaching $27.05. 38,757 shares of the company’s stock were exchanged, compared to its average volume of 43,761. The firm has a market capitalization of $373.56 million, a price-to-earnings ratio of 8.67 and a beta of 0.35. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.06. Northeast Community Bancorp Inc. has a one year low of $19.27 and a one year high of $28.94. The business has a 50-day simple moving average of $25.94 and a two-hundred day simple moving average of $24.64.

Northeast Community Bancorp (NASDAQ:NECB) last released its quarterly earnings data on Friday, July 24th. The savings and loans company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.04). Northeast Community Bancorp had a net margin of 27.67% and a return on equity of 12.10%. The company had revenue of $25.29 million for the quarter, compared to analyst estimates of $25.76 million. As a group, research analysts predict that Northeast Community Bancorp Inc. will post 3.16 EPS for the current year.

Northeast Community Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Tuesday, July 7th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $1.00 annualized dividend and a yield of 3.7%. This is a positive change from Northeast Community Bancorp’s previous quarterly dividend of $0.20. Northeast Community Bancorp’s payout ratio is presently 32.05%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NECB. 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 research note on Tuesday, March 31st. Finally, Piper Sandler upped their target price on shares of Northeast Community Bancorp from $26.50 to $29.50 and gave the stock a “neutral” rating in a report on Friday, June 26th. One 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, the company has an average rating of “Moderate Buy” and an average target price of $29.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC bought a new stake in Northeast Community Bancorp during the 1st quarter worth approximately $1,779,000. Millennium Management LLC raised its position in Northeast Community Bancorp by 261.8% in the 1st quarter. Millennium Management LLC now owns 162,916 shares of the savings and loans company’s stock valued at $3,819,000 after purchasing an additional 117,888 shares during the last quarter. Empowered Funds LLC boosted its stake in Northeast Community Bancorp by 7.4% in the first quarter. Empowered Funds LLC now owns 69,058 shares of the savings and loans company’s stock worth $1,619,000 after purchasing an additional 4,741 shares in the last quarter. Jane Street Group LLC boosted its stake in Northeast Community Bancorp by 78.3% in the first quarter. Jane Street Group LLC now owns 25,696 shares of the savings and loans company’s stock worth $602,000 after purchasing an additional 11,286 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Northeast Community Bancorp by 4.6% during the second quarter. First Trust Advisors LP now owns 58,616 shares of the savings and loans company’s stock worth $1,363,000 after purchasing an additional 2,602 shares during the last quarter. 53.25% of the stock is owned by institutional investors and hedge funds.

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.