Northeast Community Bancorp (NASDAQ:NECB) Issues Earnings Results, Misses Expectations By $0.04 EPS

Northeast Community Bancorp (NASDAQ:NECB) posted its quarterly earnings data on Friday. The savings and loans company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates 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%.

Northeast Community Bancorp Stock Performance

Shares of NASDAQ:NECB traded up $0.20 during trading on Friday, hitting $26.66. 24,216 shares of the company traded hands, compared to its average volume of 43,652. The stock has a market capitalization of $368.11 million, a price-to-earnings ratio of 8.28 and a beta of 0.35. The business’s fifty day moving average is $25.73 and its 200-day moving average is $24.55. 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 has a one year low of $19.27 and a one year high of $28.94.

Northeast Community Bancorp Increases Dividend

The business also recently announced 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 of this dividend is Tuesday, July 7th. Northeast Community Bancorp’s dividend payout ratio is currently 31.06%.

Institutional Investors Weigh In On Northeast Community Bancorp

A number of hedge funds have recently made changes to their positions in NECB. Larson Financial Group LLC acquired a new position in Northeast Community Bancorp in the third quarter worth approximately $28,000. Russell Investments Group Ltd. boosted its holdings in shares of Northeast Community Bancorp by 193.8% during the third quarter. Russell Investments Group Ltd. now owns 1,457 shares of the savings and loans company’s stock worth $30,000 after purchasing an additional 961 shares during the period. IFP Advisors Inc grew its holdings in shares of Northeast Community Bancorp by 78.4% during the 3rd quarter. IFP Advisors Inc now owns 1,821 shares of the savings and loans company’s stock valued at $38,000 after acquiring an additional 800 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Northeast Community Bancorp by 4,381.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,316 shares of the savings and loans company’s stock valued at $75,000 after purchasing an additional 3,242 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Northeast Community Bancorp by 46.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,459 shares of the savings and loans company’s stock valued at $80,000 after buying an additional 1,102 shares in the last quarter. Institutional investors own 53.25% of the company’s stock.

Analyst Upgrades and Downgrades

NECB has been the topic of a number of research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Northeast Community Bancorp in a research note on Thursday, July 2nd. 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 report on Friday, June 26th. Finally, Freedom Capital raised shares of Northeast Community Bancorp to a “strong-buy” rating in a research note on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Northeast Community Bancorp has an average rating of “Moderate Buy” and a consensus price target of $29.50.

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.