Northeast Community Bancorp Inc. to Issue Quarterly Dividend of $0.25 (NASDAQ:NECB)

Northeast Community Bancorp Inc. (NASDAQ:NECB) announced a quarterly dividend on Wednesday, September 23rd. Shareholders of record on Friday, October 9th will be given a dividend of 0.25 per share by the savings and loans company on Friday, November 13th. This represents a c) annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Friday, October 9th.

Northeast Community Bancorp has raised its dividend by an average of 0.5%per year over the last three years and has increased its dividend every year for the last 2 years. Northeast Community Bancorp has a dividend payout ratio of 30.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Northeast Community Bancorp to earn $3.57 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 28.0%.

Northeast Community Bancorp Trading Down 0.1%

Shares of NASDAQ NECB traded down $0.02 on Thursday, reaching $26.36. 2,795 shares of the company traded hands, compared to its average volume of 42,806. The stock has a market capitalization of $362.86 million, a PE ratio of 8.45 and a beta of 0.36. Northeast Community Bancorp has a fifty-two week low of $19.27 and a fifty-two week high of $28.94. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average of $26.77 and a 200 day moving average of $25.50.

Northeast Community Bancorp (NASDAQ:NECB) last released its quarterly earnings data on Monday, July 27th. The savings and loans company reported $0.72 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 for the quarter, compared to analyst estimates of $25.76 million. On average, equities research analysts forecast that Northeast Community Bancorp will post 3.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NECB shares. Piper Sandler boosted their target price on shares of Northeast Community Bancorp from $26.50 to $29.50 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northeast Community Bancorp in a report on Thursday, July 2nd. 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, Northeast Community Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

Northeast Community Bancorp Company Profile

Northeast Community Bancorp, Inc is the holding company for NorthEast Community Bank, a community-focused financial institution headquartered in White Plains, New York. The bank traces its roots to 1934 and provides banking services to individuals, families, businesses and nonprofit organizations in the communities it serves.

NorthEast Community Bank offers deposit products such as checking and savings accounts, money market accounts and certificates of deposit. Its lending activities include residential and commercial real estate loans, multifamily and construction financing, home equity loans and other consumer and business credit products.

The company operates through a branch network serving customers in parts of New York and neighboring New England markets.