Northeast Community Bancorp Inc. (NASDAQ:NECB) Sees Significant Increase in Short Interest

Northeast Community Bancorp Inc. (NASDAQ:NECB) was the target of a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 128,518 shares, an increase of 59.4% from the December 31st total of 80,630 shares. Currently, 1.0% of the shares of the company are sold short. Based on an average daily trading volume, of 63,068 shares, the short-interest ratio is currently 2.0 days. Based on an average daily trading volume, of 63,068 shares, the short-interest ratio is currently 2.0 days. Currently, 1.0% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

NECB has been the subject of several analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Northeast Community Bancorp in a report on Thursday, January 22nd. Zacks Research lowered shares of Northeast Community Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 28th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold”.

Northeast Community Bancorp Stock Up 0.6%

NASDAQ:NECB traded up $0.15 during trading hours on Friday, hitting $23.60. The company’s stock had a trading volume of 56,789 shares, compared to its average volume of 55,409. The stock has a market capitalization of $331.04 million, a P/E ratio of 7.24 and a beta of 0.41. Northeast Community Bancorp has a 52-week low of $19.27 and a 52-week high of $25.49. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.50. The stock has a fifty day moving average of $22.72 and a 200-day moving average of $21.65.

Northeast Community Bancorp (NASDAQ:NECB) last released its quarterly earnings data on Wednesday, January 28th. The savings and loans company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.06). The company had revenue of $26.45 million during the quarter, compared to analyst estimates of $27.15 million. Northeast Community Bancorp had a net margin of 28.07% and a return on equity of 13.22%. On average, equities analysts forecast that Northeast Community Bancorp will post 3.04 earnings per share for the current year.

Northeast Community Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Monday, January 5th will be given a $0.20 dividend. The ex-dividend date is Monday, January 5th. This represents a $0.80 dividend on an annualized basis and a yield of 3.4%. Northeast Community Bancorp’s dividend payout ratio (DPR) is presently 24.54%.

Northeast Community Bancorp announced that its board has approved a share repurchase plan on Monday, December 8th that allows the company to repurchase $1.40 million in shares. This repurchase authorization allows the savings and loans company to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Northeast Community Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in NECB. Vanguard Group Inc. raised its position in shares of Northeast Community Bancorp by 0.3% in the third quarter. Vanguard Group Inc. now owns 671,486 shares of the savings and loans company’s stock valued at $13,812,000 after buying an additional 1,695 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Northeast Community Bancorp by 2.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 418,429 shares of the savings and loans company’s stock worth $8,607,000 after purchasing an additional 10,458 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Northeast Community Bancorp by 4.1% in the 2nd quarter. Geode Capital Management LLC now owns 311,695 shares of the savings and loans company’s stock valued at $7,247,000 after acquiring an additional 12,204 shares during the period. LSV Asset Management lifted its stake in shares of Northeast Community Bancorp by 28.4% during the second quarter. LSV Asset Management now owns 296,896 shares of the savings and loans company’s stock worth $6,901,000 after purchasing an additional 65,717 shares in the last quarter. Finally, Millennium Management LLC lifted its position in Northeast Community Bancorp by 261.8% during the 1st quarter. Millennium Management LLC now owns 162,916 shares of the savings and loans company’s stock worth $3,819,000 after acquiring an additional 117,888 shares in the last quarter. 53.25% of the stock is currently owned by hedge funds and other institutional investors.

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.