Northeast Community Bancorp Inc. (NASDAQ:NECB) Short Interest Down 41.8% in February

Northeast Community Bancorp Inc. (NASDAQ:NECB) saw a significant decline in short interest in the month of February. As of February 27th, there was short interest totaling 84,473 shares, a decline of 41.8% from the February 12th total of 145,267 shares. Based on an average daily trading volume, of 41,924 shares, the days-to-cover ratio is currently 2.0 days. Currently, 0.6% of the company’s shares are short sold. Currently, 0.6% of the company’s shares are short sold. Based on an average daily trading volume, of 41,924 shares, the days-to-cover ratio is currently 2.0 days.

Hedge Funds Weigh In On Northeast Community Bancorp

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

Northeast Community Bancorp Trading Down 0.5%

Shares of NASDAQ:NECB traded down $0.12 during trading on Thursday, reaching $23.02. 5,094 shares of the company were exchanged, compared to its average volume of 49,389. The business’s fifty day simple moving average is $23.62 and its 200-day simple moving average is $22.09. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.27 and a quick ratio of 1.27. Northeast Community Bancorp has a 12-month low of $19.27 and a 12-month high of $25.18. The firm has a market capitalization of $322.90 million, a PE ratio of 7.06 and a beta of 0.41.

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

Northeast Community Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 6th. Investors of record on Monday, January 5th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, January 5th. Northeast Community Bancorp’s dividend payout ratio (DPR) is presently 24.54%.

Northeast Community Bancorp declared that its board has initiated a share repurchase program on Monday, December 8th that allows the company to buyback $1.40 million in shares. This buyback authorization allows the savings and loans company to purchase up to 0.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NECB. Weiss Ratings raised shares of Northeast Community Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Zacks Research lowered Northeast Community Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, November 28th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

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.