Insider Selling: Northeast Community Bancorp (NASDAQ:NECB) Director Sells $284,113.00 in Stock

Northeast Community Bancorp Inc. (NASDAQ:NECB) Director John Mckenzie sold 9,700 shares of the stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $29.29, for a total transaction of $284,113.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Northeast Community Bancorp Stock Down 2.9%

NECB opened at $29.00 on Friday. The stock’s fifty day moving average is $27.40 and its 200-day moving average is $25.60. The company has a market capitalization of $399.21 million, a PE ratio of 9.54 and a beta of 0.37. Northeast Community Bancorp Inc. has a one year low of $19.39 and a one year high of $30.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29.

Northeast Community Bancorp (NASDAQ:NECB) last issued its quarterly earnings results on Thursday, October 22nd. The savings and loans company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.03). Northeast Community Bancorp had a net margin of 27.21% and a return on equity of 11.55%. The business had revenue of $25.91 million during the quarter, compared to analyst estimates of $27.96 million. On average, equities analysts predict that Northeast Community Bancorp Inc. will post 3.24 EPS for the current fiscal year.

Northeast Community Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 9th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, October 9th. Northeast Community Bancorp’s dividend payout ratio is currently 32.89%.

Analyst Ratings Changes

Several brokerages have recently commented on NECB. Zacks Research raised Northeast Community Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Northeast Community Bancorp in a research report on Tuesday, September 29th. Finally, Freedom Broker increased their price objective on Northeast Community Bancorp from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, October 26th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Northeast Community Bancorp currently has an average rating of “Buy” and an average target price of $30.25.

Hedge Funds Weigh In On Northeast Community Bancorp

A number of hedge funds have recently made changes to their positions in NECB. BlackRock Inc. bought a new position in shares of Northeast Community Bancorp during the 2nd quarter worth approximately $35,060,000. Dimensional Fund Advisors LP lifted its stake in shares of Northeast Community Bancorp by 5.8% during the first quarter. Dimensional Fund Advisors LP now owns 466,870 shares of the savings and loans company’s stock valued at $11,112,000 after acquiring an additional 25,687 shares during the period. Renaissance Technologies LLC boosted its stake in Northeast Community Bancorp by 19.4% in the first quarter. Renaissance Technologies LLC now owns 176,205 shares of the savings and loans company’s stock valued at $4,194,000 after acquiring an additional 28,605 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Northeast Community Bancorp during the 2nd quarter worth about $4,611,000. Finally, Empowered Funds LLC grew its holdings in shares of Northeast Community Bancorp by 22.5% in the 1st quarter. Empowered Funds LLC now owns 97,037 shares of the savings and loans company’s stock valued at $2,309,000 after buying an additional 17,840 shares during the period. Institutional investors and hedge funds own 53.25% of the company’s stock.

Northeast Community Bancorp Company Profile

Northeast Community Bancorp, Inc is the holding company for Northeast Community Bank, a community-oriented savings bank headquartered in New York. The bank provides retail and commercial banking services to individuals, families, businesses and community organizations through its branch network in New York and New Jersey.

Northeast Community Bank offers deposit products such as checking, savings, money market and certificate of deposit accounts. Its lending activities include residential and multifamily real estate loans, commercial real estate financing, construction loans, home equity products and other loans for businesses and consumers.

The company emphasizes relationship-based banking and focuses on serving local markets, including communities in the New York metropolitan area and surrounding regions.