Man Group plc Invests $1.26 Million in Northeast Community Bancorp Inc. $NECB

Man Group plc acquired a new stake in Northeast Community Bancorp Inc. (NASDAQ:NECB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 45,419 shares of the savings and loans company’s stock, valued at approximately $1,260,000.

A number of other institutional investors have also recently made changes to their positions in NECB. Larson Financial Group LLC purchased a new stake in Northeast Community Bancorp during the 3rd quarter worth approximately $28,000. Russell Investments Group Ltd. lifted its holdings in 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 worth $30,000 after buying an additional 961 shares in the last quarter. Harbour Investments Inc. boosted its position in Northeast Community Bancorp by 109.9% in the 4th quarter. Harbour Investments Inc. now owns 1,522 shares of the savings and loans company’s stock valued at $34,000 after buying an additional 797 shares during the period. Legal & General Group Plc acquired a new position in shares of Northeast Community Bancorp in the second quarter worth $36,000. Finally, IFP Advisors Inc grew its stake in shares of Northeast Community Bancorp by 78.4% in the third quarter. IFP Advisors Inc now owns 1,821 shares of the savings and loans company’s stock worth $38,000 after acquiring an additional 800 shares in the last quarter. Institutional investors and hedge funds own 53.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NECB. Weiss Ratings reiterated a “buy (b)” rating on shares of Northeast Community Bancorp in a research note on Thursday, July 2nd. Piper Sandler boosted their target price on Northeast Community Bancorp from $26.50 to $29.50 and gave the stock a “neutral” rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.50.

Northeast Community Bancorp Stock Up 2.1%

Shares of NASDAQ:NECB opened at $26.74 on Thursday. The firm’s 50 day moving average price is $26.79 and its 200 day moving average price is $25.19. The stock has a market cap of $368.21 million, a price-to-earnings ratio of 8.57 and a beta of 0.36. Northeast Community Bancorp Inc. has a fifty-two week low of $19.27 and a fifty-two week high of $28.94. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53.

Northeast Community Bancorp (NASDAQ:NECB) last issued its quarterly earnings results 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 12.00% and a net margin of 27.67%.The firm had revenue of $25.29 million during the quarter, compared to analysts’ expectations of $25.76 million. As a group, equities research analysts predict that Northeast Community Bancorp Inc. will post 3.16 earnings per share for the current fiscal year.

Northeast Community Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 6th. Stockholders of record on Tuesday, July 7th were given a dividend of $0.25 per share. This is an increase from Northeast Community Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $1.00 annualized dividend and a dividend yield of 3.7%. Northeast Community Bancorp’s dividend payout ratio is presently 32.05%.

Insider Activity

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 transaction of $81,600.00. Following the completion of the transaction, the chief financial officer owned 4,714 shares in the company, valued at approximately $128,220.80. The trade was a 38.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 7.12% 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.