Northeast Community Bancorp Inc. (NECB) to Issue Quarterly Dividend of $0.20 on February 6th

Northeast Community Bancorp Inc. (NASDAQ:NECB) declared a quarterly dividend on Thursday, December 18th. Investors of record on Monday, January 5th will be paid a dividend of 0.20 per share by the savings and loans company on Friday, February 6th. This represents a c) annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Monday, January 5th.

Northeast Community Bancorp has raised its dividend by an average of 0.4%annually over the last three years and has raised its dividend every year for the last 2 years. Northeast Community Bancorp has a dividend payout ratio of 24.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Northeast Community Bancorp to earn $3.17 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 25.2%.

Northeast Community Bancorp Price Performance

NASDAQ:NECB opened at $22.77 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.50. The firm has a market cap of $319.39 million, a PE ratio of 6.96 and a beta of 0.42. Northeast Community Bancorp has a 12 month low of $19.27 and a 12 month high of $25.93. The company’s 50-day moving average price is $21.49 and its two-hundred day moving average price is $21.72.

Northeast Community Bancorp (NASDAQ:NECB) last posted its earnings results on Friday, October 24th. The savings and loans company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The company had revenue of $26.61 million during the quarter, compared to analysts’ expectations of $26.80 million. Northeast Community Bancorp had a net margin of 27.97% and a return on equity of 13.43%. On average, equities analysts anticipate that Northeast Community Bancorp will post 3.04 EPS for the current fiscal year.

Northeast Community Bancorp announced that its board has authorized a share buyback plan on Monday, December 8th that allows the company to buyback $1.40 million in shares. This buyback authorization allows the savings and loans company to repurchase up to 0.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.