Northeast Community Bancorp (NASDAQ:NECB) Issues Earnings Results

Northeast Community Bancorp (NASDAQ:NECB) released its quarterly earnings data on Friday. The savings and loans company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.04), Zacks reports. Northeast Community Bancorp had a net margin of 28.16% and a return on equity of 12.62%. The company had revenue of $25.93 million for the quarter, compared to the consensus estimate of $25.76 million.

Northeast Community Bancorp Stock Up 0.8%

NASDAQ NECB opened at $26.66 on Friday. The stock has a 50 day moving average price of $25.80 and a 200-day moving average price of $24.56. Northeast Community Bancorp has a one year low of $19.27 and a one year high of $28.94. 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 company has a market capitalization of $368.31 million, a P/E ratio of 8.28 and a beta of 0.35.

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 given a dividend of $0.25 per share. The ex-dividend date is Tuesday, July 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.8%. This is an increase from Northeast Community Bancorp’s previous quarterly dividend of $0.20. Northeast Community Bancorp’s dividend payout ratio is currently 31.06%.

Analysts Set New Price Targets

NECB has been the subject of several research analyst reports. Piper Sandler raised 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Northeast Community Bancorp in a research note on Thursday, July 2nd. Finally, Freedom Capital upgraded 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 assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

Institutional Investors Weigh In On Northeast Community Bancorp

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Northeast Community Bancorp by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 671,486 shares of the savings and loans company’s stock worth $13,812,000 after buying an additional 1,695 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Northeast Community Bancorp by 5.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 441,183 shares of the savings and loans company’s stock valued at $9,975,000 after purchasing an additional 22,754 shares during the period. Geode Capital Management LLC lifted its stake in shares of Northeast Community Bancorp by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 395,299 shares of the savings and loans company’s stock valued at $8,939,000 after purchasing an additional 12,250 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Northeast Community Bancorp by 261.8% in the 1st quarter. Millennium Management LLC now owns 162,916 shares of the savings and loans company’s stock valued at $3,819,000 after purchasing an additional 117,888 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its position in shares of Northeast Community Bancorp by 6.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 132,336 shares of the savings and loans company’s stock valued at $2,992,000 after purchasing an additional 7,686 shares during the last quarter. Hedge funds and other 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.