Northeast Community Bancorp (NASDAQ:NECB) Announces Quarterly Earnings Results

Northeast Community Bancorp (NASDAQ:NECB) posted its quarterly earnings data on Thursday. The savings and loans company reported $0.79 EPS for the quarter, hitting the consensus estimate of $0.79, Zacks reports. Northeast Community Bancorp had a return on equity of 12.00% and a net margin of 27.67%.

Northeast Community Bancorp Stock Up 1.9%

Shares of NASDAQ NECB traded up $0.53 during midday trading on Thursday, hitting $28.78. The company’s stock had a trading volume of 70,263 shares, compared to its average volume of 43,801. The business’s fifty day simple moving average is $26.90 and its two-hundred day simple moving average is $26.01. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. Northeast Community Bancorp has a 1 year low of $19.27 and a 1 year high of $29.05. The firm has a market capitalization of $396.30 million, a price-to-earnings ratio of 9.22 and a beta of 0.38.

Northeast Community Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 9th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, October 9th. Northeast Community Bancorp’s payout ratio is currently 32.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NECB shares. Zacks Research raised shares of Northeast Community Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 7th. Piper Sandler upped their price objective on shares of Northeast Community Bancorp from $26.50 to $29.50 and gave the company a “neutral” rating in a research note on Friday, June 26th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northeast Community Bancorp in a research note on Tuesday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $29.50.

Insiders Place Their Bets

In related news, CFO Donald S. Hom sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $27.20, for a total transaction of $81,600.00. Following the sale, the chief financial officer directly owned 4,714 shares of the company’s stock, valued at $128,220.80. This represents a 38.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.12% of the stock is currently owned by insiders.

About Northeast Community Bancorp

Northeast Community Bancorp, Inc is the holding company for NorthEast Community Bank, a community-focused banking institution serving customers in the Hudson Valley and surrounding regions of New York and Connecticut. The company operates through its banking subsidiary and emphasizes relationship-based service for individuals, families, businesses and real estate investors.

NorthEast Community Bank offers a range of deposit products, including checking, savings, money market and certificate accounts, as well as residential mortgage loans, home equity financing, commercial real estate loans, construction lending, commercial and industrial loans, and consumer credit.