30,207 Shares in Northeast Community Bancorp Inc. $NECB Bought by Globeflex Capital L P

Globeflex Capital L P bought a new stake in Northeast Community Bancorp Inc. (NASDAQ:NECB) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 30,207 shares of the savings and loans company’s stock, valued at approximately $838,000. Globeflex Capital L P owned about 0.22% of Northeast Community Bancorp as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of NECB. Larson Financial Group LLC bought a new position in shares of Northeast Community Bancorp in the third quarter worth about $28,000. Russell Investments Group Ltd. grew its holdings in shares of Northeast Community Bancorp by 193.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,457 shares of the savings and loans company’s stock valued at $30,000 after purchasing an additional 961 shares during the last quarter. Harbour Investments Inc. increased its position in Northeast Community Bancorp by 109.9% during the 4th quarter. Harbour Investments Inc. now owns 1,522 shares of the savings and loans company’s stock worth $34,000 after purchasing an additional 797 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Northeast Community Bancorp by 78.4% during the third quarter. IFP Advisors Inc now owns 1,821 shares of the savings and loans company’s stock worth $38,000 after buying an additional 800 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Northeast Community Bancorp by 4,381.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,316 shares of the savings and loans company’s stock valued at $75,000 after buying an additional 3,242 shares during the period. Institutional investors and hedge funds own 53.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NECB shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Northeast Community Bancorp in a report on Thursday, July 2nd. Piper Sandler boosted 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. 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.50.

Northeast Community Bancorp Stock Performance

Shares of NECB stock opened at $26.49 on Tuesday. The stock has a market capitalization of $364.77 million, a PE ratio of 8.49 and a beta of 0.36. The business’s 50 day simple moving average is $26.74 and its 200 day simple moving average is $25.10. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. Northeast Community Bancorp Inc. has a one year low of $19.27 and a one year high of $28.94.

Northeast Community Bancorp (NASDAQ:NECB) last released its quarterly earnings results on Monday, July 27th. 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). Northeast Community Bancorp had a return on equity of 12.00% and a net margin of 27.67%.The firm had revenue of $25.29 million for the quarter, compared to the consensus estimate of $25.76 million. As a group, research analysts forecast 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 was paid on Thursday, August 6th. Investors of record on Tuesday, July 7th were paid a dividend of $0.25 per share. This is a boost from Northeast Community Bancorp’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, July 7th. Northeast Community Bancorp’s payout ratio is 32.05%.

Insider Transactions at Northeast Community Bancorp

In related news, CFO Donald S. 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 value of $81,600.00. Following the transaction, the chief financial officer owned 4,714 shares in the company, valued at $128,220.80. The trade was a 38.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.12% of the stock is currently owned by insiders.

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.