Sanctuary Advisors LLC Invests $892,000 in Northeast Community Bancorp Inc. $NECB

Sanctuary Advisors LLC purchased a new stake in shares of Northeast Community Bancorp Inc. (NASDAQ:NECB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 32,151 shares of the savings and loans company’s stock, valued at approximately $892,000. Sanctuary Advisors LLC owned approximately 0.23% of Northeast Community Bancorp at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of NECB. Militia Capital Management LLC bought a new position in shares of Northeast Community Bancorp in the first quarter worth approximately $810,000. Dimensional Fund Advisors LP raised its position in shares of Northeast Community Bancorp by 5.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 466,870 shares of the savings and loans company’s stock valued at $11,112,000 after purchasing an additional 25,687 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Northeast Community Bancorp by 19.4% during the 1st quarter. Renaissance Technologies LLC now owns 176,205 shares of the savings and loans company’s stock valued at $4,194,000 after buying an additional 28,605 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Northeast Community Bancorp in the second quarter worth about $4,611,000. Finally, Globeflex Capital L P purchased a new stake in Northeast Community Bancorp during the 2nd quarter valued at approximately $838,000. Institutional investors and hedge funds own 53.25% of the company’s stock.

Insider Buying and Selling

In other Northeast Community Bancorp news, CFO Donald S. Hom sold 3,000 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $27.20, for a total value of $81,600.00. Following the sale, the chief financial officer directly owned 4,714 shares of the company’s stock, valued at approximately $128,220.80. This represents a 38.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 7.12% of the company’s stock.

Northeast Community Bancorp Stock Up 0.2%

Shares of Northeast Community Bancorp stock opened at $26.43 on Friday. The firm’s 50 day moving average price is $26.79 and its 200-day moving average price is $25.15. The company has a market cap of $363.94 million, a P/E ratio of 8.47 and a beta of 0.36. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. Northeast Community Bancorp Inc. has a 52-week low of $19.27 and a 52-week high of $28.94.

Northeast Community Bancorp (NASDAQ:NECB) last announced its earnings results on Monday, July 27th. The savings and loans company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.04). Northeast Community Bancorp had a net margin of 27.67% and a return on equity of 12.00%. The business had revenue of $25.29 million for the quarter, compared to analyst estimates of $25.76 million. On average, sell-side analysts predict that Northeast Community Bancorp Inc. will post 3.16 EPS for the current fiscal year.

Northeast Community Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 6th. Investors of record on Tuesday, July 7th were given a dividend of $0.25 per share. This is a boost from Northeast Community Bancorp’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Tuesday, July 7th. Northeast Community Bancorp’s payout ratio is presently 32.05%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NECB. Piper Sandler lifted their target price on Northeast Community Bancorp from $26.50 to $29.50 and gave the stock a “neutral” rating in a report on Friday, June 26th. Weiss Ratings restated a “buy (b)” rating on shares of Northeast Community Bancorp in a report on Thursday, July 2nd. One 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $29.50.

Northeast Community Bancorp 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.