Northeast Community Bancorp (NASDAQ:NECB) Stock Price Breaks Below Two Hundred Day Moving Average – Time to Sell?

Northeast Community Bancorp Inc. (NASDAQ:NECB)’s share price passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $25.64 and traded as low as $25.63. Northeast Community Bancorp shares last traded at $26.34, with a volume of 47,082 shares.

Analyst Ratings Changes

Several research firms have recently issued reports on NECB. Piper Sandler lifted their target price on shares of Northeast Community Bancorp from $26.50 to $29.50 and gave the company a “neutral” rating in a report on Friday, June 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northeast Community Bancorp in a research note on Tuesday. 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. Based on data from MarketBeat.com, Northeast Community Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $29.50.

Northeast Community Bancorp Trading Up 1.2%

The business has a 50-day simple moving average of $26.75 and a 200-day simple moving average of $25.65. The company has a market cap of $366.86 million, a PE ratio of 8.54 and a beta of 0.38. 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 released its quarterly earnings results on Monday, July 27th. The savings and loans company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.04). The company had revenue of $25.29 million for the quarter, compared to analysts’ expectations of $25.76 million. Northeast Community Bancorp had a return on equity of 12.00% and a net margin of 27.67%. On average, analysts predict that Northeast Community Bancorp Inc. will post 3.16 EPS for the current fiscal year.

Northeast Community Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 9th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Friday, October 9th. Northeast Community Bancorp’s dividend payout ratio (DPR) is presently 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 dated Wednesday, July 29th. The shares were sold at an average price of $27.20, for a total value of $81,600.00. Following the completion of the transaction, the chief financial officer owned 4,714 shares in the company, valued at $128,220.80. This represents a 38.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 7.12% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Northeast Community Bancorp during the 2nd quarter worth about $35,060,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Northeast Community Bancorp during the 2nd quarter valued at about $4,611,000. Empowered Funds LLC acquired a new stake in shares of Northeast Community Bancorp in the 2nd quarter valued at about $2,690,000. Bank of New York Mellon Corp bought a new stake in Northeast Community Bancorp during the 2nd quarter worth about $1,863,000. Finally, Raffles Associates LP bought a new position in shares of Northeast Community Bancorp in the 2nd quarter valued at about $1,651,000. 53.25% of the stock is owned by institutional investors and hedge funds.

About Northeast Community Bancorp

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.