Northeast Community Bancorp (NASDAQ:NECB) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Northeast Community Bancorp Inc. (NASDAQ:NECB)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $24.14 and traded as high as $28.33. Northeast Community Bancorp shares last traded at $28.32, with a volume of 51,114 shares.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Piper Sandler raised their target price on shares of Northeast Community Bancorp from $26.50 to $29.50 and gave the stock a “neutral” rating in a report on Friday, June 26th. Freedom Capital raised Northeast Community Bancorp to a “strong-buy” rating in a research report on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Northeast Community Bancorp currently has an average rating of “Moderate Buy” and an average target price of $29.50.

Northeast Community Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.17 and a current ratio of 1.17. The firm’s 50 day moving average is $25.00 and its 200-day moving average is $24.17. The stock has a market capitalization of $381.29 million, a price-to-earnings ratio of 8.57 and a beta of 0.35.

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

Northeast Community Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 6th. Stockholders of record on Tuesday, July 7th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, July 7th. This is an increase from Northeast Community Bancorp’s previous quarterly dividend of $0.20. Northeast Community Bancorp’s dividend payout ratio is currently 24.84%.

Hedge Funds Weigh In On Northeast Community Bancorp

Several institutional investors and hedge funds have recently modified their holdings of NECB. Bank of America Corp DE raised its holdings in Northeast Community Bancorp by 77.9% in the 1st 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 grew its holdings in Northeast Community Bancorp by 22.5% in 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 period. Quantinno Capital Management LP grew its holdings in Northeast Community Bancorp by 59.7% in 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 period. Lazard Asset Management LLC purchased a new stake in shares of Northeast Community Bancorp in the first quarter valued at approximately $429,000. Finally, Renaissance Technologies LLC increased its position in shares of 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 buying an additional 28,605 shares in the last quarter. Hedge funds and other institutional investors own 53.25% of the company’s stock.

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.