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

Northeast Community Bancorp Inc. (NASDAQ:NECB) was the target of a large decline in short interest during 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. Approximately 0.6% of the shares of the stock are short sold. Based on an average daily volume of 41,924 shares, the short-interest ratio is presently 2.0 days. Based on an average daily volume of 41,924 shares, the short-interest ratio is presently 2.0 days. Approximately 0.6% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Larson Financial Group LLC purchased a new stake in shares of Northeast Community Bancorp in the 3rd quarter valued at approximately $28,000. Russell Investments Group Ltd. boosted its position in shares of 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 purchasing an additional 961 shares during the period. Harbour Investments Inc. increased its holdings 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 purchasing an additional 797 shares during the last quarter. IFP Advisors Inc increased its holdings in Northeast Community Bancorp by 78.4% in the 3rd quarter. IFP Advisors Inc now owns 1,821 shares of the savings and loans company’s stock valued at $38,000 after purchasing an additional 800 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Northeast Community Bancorp by 4,381.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,316 shares of the savings and loans company’s stock valued at $75,000 after purchasing an additional 3,242 shares during the period. Hedge funds and other institutional investors own 53.25% of the company’s stock.

Northeast Community Bancorp Trading Down 0.1%

NASDAQ:NECB traded down $0.03 on Friday, hitting $23.06. The stock had a trading volume of 42,860 shares, compared to its average volume of 39,155. The company has a fifty day moving average price of $23.63 and a two-hundred day moving average price of $22.10. Northeast Community Bancorp has a 1-year low of $19.27 and a 1-year high of $25.18. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.50. The stock has a market cap of $323.53 million, a price-to-earnings ratio of 7.07 and a beta of 0.41.

Northeast Community Bancorp (NASDAQ:NECB) last announced its quarterly earnings results on Friday, January 30th. The savings and loans company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.06). Northeast Community Bancorp had a return on equity of 13.22% and a net margin of 28.07%.The firm had revenue of $26.44 million for the quarter, compared to analyst estimates of $27.15 million. Equities research analysts expect that Northeast Community Bancorp will post 3.04 earnings per share for the current fiscal year.

Northeast Community Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 6th. Shareholders of record on Monday, January 5th were given a $0.20 dividend. The ex-dividend date was Monday, January 5th. This represents a $0.80 dividend on an annualized basis and a yield of 3.5%. Northeast Community Bancorp’s payout ratio is currently 24.54%.

Northeast Community Bancorp announced that its Board of Directors 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 generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

NECB has been the subject of several recent research reports. Zacks Research cut Northeast Community Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, November 28th. Weiss Ratings upgraded Northeast Community Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Northeast Community Bancorp Company Profile

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.