Northeast Community Bancorp (NASDAQ:NECB) CFO Donald Hom Sells 3,000 Shares of Stock

Northeast Community Bancorp Inc. (NASDAQ:NECB) CFO Donald Hom sold 3,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer directly owned 4,714 shares in the company, valued at approximately $128,220.80. The trade was a 38.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Northeast Community Bancorp Stock Down 1.5%

Shares of NASDAQ NECB opened at $27.05 on Thursday. Northeast Community Bancorp Inc. has a 12 month low of $19.27 and a 12 month high of $28.94. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.06. The firm has a fifty day simple moving average of $26.00 and a two-hundred day simple moving average of $24.67. The firm has a market capitalization of $373.56 million, a PE ratio of 8.67 and a beta of 0.35.

Northeast Community Bancorp (NASDAQ:NECB) last released its quarterly earnings results on Friday, July 24th. The savings and loans company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.04). Northeast Community Bancorp had a return on equity of 12.10% and a net margin of 27.67%.The company had revenue of $25.29 million during the quarter, compared to the consensus estimate of $25.76 million. Equities analysts expect that Northeast Community Bancorp Inc. will post 3.16 earnings per share for the current year.

Northeast Community Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 6th. Shareholders of record on Tuesday, July 7th will be issued a dividend of $0.25 per share. This is a positive change from Northeast Community Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, July 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.7%. Northeast Community Bancorp’s dividend payout ratio (DPR) is currently 32.05%.

Wall Street Analyst Weigh In

NECB has been the subject of a number of research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Northeast Community Bancorp in a research note on Thursday, July 2nd. Piper Sandler upped their price target on Northeast Community Bancorp from $26.50 to $29.50 and gave the stock a “neutral” rating in a research note on Friday, June 26th. 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. Based on data from MarketBeat, Northeast Community Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $29.50.

Institutional Investors Weigh In On Northeast Community Bancorp

Hedge funds have recently bought and sold shares of the business. Bank of America Corp DE grew its holdings in Northeast Community Bancorp by 77.9% in the first quarter. Bank of America Corp DE now owns 22,060 shares of the savings and loans company’s stock worth $525,000 after purchasing an additional 9,662 shares during the period. Empowered Funds LLC lifted its holdings in shares of Northeast Community Bancorp by 22.5% during the first quarter. Empowered Funds LLC now owns 97,037 shares of the savings and loans company’s stock valued at $2,309,000 after purchasing an additional 17,840 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Northeast Community Bancorp by 59.7% during the first quarter. Quantinno Capital Management LP now owns 32,919 shares of the savings and loans company’s stock valued at $783,000 after purchasing an additional 12,308 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Northeast Community Bancorp in the 1st quarter worth approximately $429,000. Finally, Renaissance Technologies LLC boosted its position in shares of Northeast Community Bancorp by 19.4% in the 1st quarter. Renaissance Technologies LLC now owns 176,205 shares of the savings and loans company’s stock worth $4,194,000 after purchasing an additional 28,605 shares in the last quarter. Institutional investors own 53.25% of the company’s stock.

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.