Northeast Community Bancorp (NASDAQ:NECB) Issues Earnings Results

Northeast Community Bancorp (NASDAQ:NECB) announced its quarterly earnings results on Wednesday. The savings and loans company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.06), Zacks reports. The business had revenue of $26.45 million during the quarter, compared to analyst estimates of $27.15 million. Northeast Community Bancorp had a net margin of 28.07% and a return on equity of 13.22%.

Northeast Community Bancorp Stock Performance

NECB traded down $0.14 during trading on Friday, hitting $23.31. 6,855 shares of the stock were exchanged, compared to its average volume of 55,456. The stock has a fifty day moving average price of $22.66 and a two-hundred day moving average price of $21.65. Northeast Community Bancorp has a 1-year low of $19.27 and a 1-year high of $25.49. The firm has a market capitalization of $327.04 million, a P/E ratio of 7.15 and a beta of 0.41. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.50.

Northeast Community Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Shareholders of record on Monday, January 5th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, January 5th. This represents a $0.80 dividend on an annualized basis and a yield of 3.4%. Northeast Community Bancorp’s dividend payout ratio (DPR) is presently 24.46%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NECB shares. Zacks Research cut shares of Northeast Community Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Northeast Community Bancorp in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Northeast Community Bancorp has a consensus rating of “Hold”.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Northeast Community Bancorp by 0.3% in the third quarter. Vanguard Group Inc. now owns 671,486 shares of the savings and loans company’s stock valued at $13,812,000 after purchasing an additional 1,695 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Northeast Community Bancorp by 2.6% in the third quarter. Dimensional Fund Advisors LP now owns 418,429 shares of the savings and loans company’s stock valued at $8,607,000 after acquiring an additional 10,458 shares during the last quarter. Millennium Management LLC grew its position in Northeast Community Bancorp by 261.8% during the first quarter. Millennium Management LLC now owns 162,916 shares of the savings and loans company’s stock valued at $3,819,000 after acquiring an additional 117,888 shares during the period. Bridgeway Capital Management LLC lifted its stake in shares of Northeast Community Bancorp by 5.4% in the 2nd quarter. Bridgeway Capital Management LLC now owns 128,849 shares of the savings and loans company’s stock valued at $2,995,000 after purchasing an additional 6,652 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in shares of Northeast Community Bancorp by 42.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 87,131 shares of the savings and loans company’s stock worth $1,792,000 after purchasing an additional 25,798 shares during the period. 53.25% of the stock is currently owned by hedge funds and other institutional investors.

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.