Northeast Community Bancorp Inc. (NECB) to Distribute Quarterly Dividend of $0.25 on August 6th

Northeast Community Bancorp Inc. (NASDAQ:NECB) declared a quarterly dividend on Thursday, June 18th. Investors of record on Tuesday, July 7th will be paid a dividend of 0.25 per share by the savings and loans company on Thursday, August 6th. This represents a c) dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, July 7th. This is a 25.0% increase from Northeast Community Bancorp’s previous quarterly dividend of $0.20.

Northeast Community Bancorp has raised its dividend by an average of 0.5%annually over the last three years and has increased its dividend every year for the last 2 years. Northeast Community Bancorp has a dividend payout ratio of 30.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Northeast Community Bancorp to earn $3.57 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 28.0%.

Northeast Community Bancorp Stock Performance

NASDAQ NECB opened at $27.61 on Friday. The stock has a market cap of $381.29 million, a P/E ratio of 8.57 and a beta of 0.35. Northeast Community Bancorp has a fifty-two week low of $19.27 and a fifty-two week high of $28.94. The stock has a 50 day simple moving average of $25.06 and a two-hundred day simple moving average of $24.19. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.17 and a current ratio of 1.17.

Northeast Community Bancorp (NASDAQ:NECB) last released its quarterly earnings results on Thursday, April 30th. The savings and loans company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.01). The company had revenue of $24.93 million during the quarter, compared to the consensus estimate of $26.42 million. Northeast Community Bancorp had a net margin of 28.16% and a return on equity of 12.62%. On average, analysts forecast that Northeast Community Bancorp will post 3.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NECB shares. Piper Sandler lifted their target price 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. Freedom Capital raised shares of Northeast Community Bancorp to a “strong-buy” rating in a research note on Tuesday, March 31st. One 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 stock. According to data from MarketBeat.com, Northeast Community Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

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.