Northeast Community Bancorp (NASDAQ:NECB) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Northeast Community Bancorp Inc. (NASDAQ:NECB) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $24.81 and traded as high as $27.44. Northeast Community Bancorp shares last traded at $27.18, with a volume of 40,847 shares.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Northeast Community Bancorp in a research note on Thursday, July 2nd. Piper Sandler lifted their target price on Northeast Community Bancorp from $26.50 to $29.50 and gave the company a “neutral” rating in a research 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $29.50.

Northeast Community Bancorp Price Performance

The company has a market capitalization of $368.45 million, a P/E ratio of 8.55 and a beta of 0.36. The business’s 50-day moving average is $26.33 and its two-hundred day moving average is $24.83. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.06.

Northeast Community Bancorp (NASDAQ:NECB) last issued its quarterly earnings data on Monday, July 27th. The savings and loans company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.04). Northeast Community Bancorp had a return on equity of 12.10% and a net margin of 27.67%.The firm had revenue of $25.29 million during the quarter, compared to the consensus estimate of $25.76 million. As a group, analysts predict that Northeast Community Bancorp Inc. will post 3.16 earnings per share for the current year.

Northeast Community Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 6th. Stockholders of record on Tuesday, July 7th were issued a $0.25 dividend. This is a boost from Northeast Community Bancorp’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, July 7th. Northeast Community Bancorp’s dividend payout ratio is currently 32.05%.

Insider Activity at Northeast Community Bancorp

In related news, CFO Donald S. Hom sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $27.20, for a total transaction of $81,600.00. Following the completion of the sale, the chief financial officer directly owned 4,714 shares of the company’s stock, valued at approximately $128,220.80. This trade represents a 38.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 7.12% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NECB. BlackRock Inc. purchased a new stake in Northeast Community Bancorp during the second quarter worth about $35,060,000. Millennium Management LLC boosted its stake in Northeast Community Bancorp by 261.8% in the first quarter. Millennium Management LLC now owns 162,916 shares of the savings and loans company’s stock valued at $3,819,000 after acquiring an additional 117,888 shares during the last quarter. Focus Partners Wealth purchased a new position in Northeast Community Bancorp in the fourth quarter valued at about $1,857,000. AQR Capital Management LLC bought a new position in shares of Northeast Community Bancorp during the 1st quarter valued at approximately $1,779,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Northeast Community Bancorp during the 2nd quarter valued at approximately $1,863,000. 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.