Northeast Community Bancorp (NASDAQ:NECB) Director John Mckenzie Sells 9,700 Shares of Company Stock

Northeast Community Bancorp Inc. (NASDAQ:NECB) Director John Mckenzie sold 9,700 shares of the company’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $29.29, for a total value of $284,113.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Northeast Community Bancorp Trading Down 0.6%

NECB opened at $29.19 on Wednesday. Northeast Community Bancorp Inc. has a one year low of $19.39 and a one year high of $29.69. The company has a market cap of $401.95 million, a P/E ratio of 9.60 and a beta of 0.37. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. The business’s 50-day simple moving average is $27.27 and its 200-day simple moving average is $25.54.

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

Northeast Community Bancorp Announces Dividend

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

Institutional Trading of Northeast Community Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc purchased a new position in Northeast Community Bancorp during the 2nd quarter worth approximately $36,000. PNC Financial Services Group Inc. increased its position in Northeast Community Bancorp by 47.6% during the first quarter. PNC Financial Services Group Inc. now owns 4,894 shares of the savings and loans company’s stock worth $116,000 after buying an additional 1,578 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Northeast Community Bancorp during the second quarter worth approximately $149,000. Algert Global LLC purchased a new stake in Northeast Community Bancorp in the second quarter valued at approximately $249,000. Finally, Ieq Capital LLC purchased a new stake in Northeast Community Bancorp in the second quarter valued at approximately $269,000. Institutional investors and hedge funds own 53.25% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.