Northeast Community Bancorp (NASDAQ:NECB) Director Sells $284,113.00 in Stock

Northeast Community Bancorp Inc. (NASDAQ:NECB) Director John Mckenzie sold 9,700 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $29.29, for a total transaction of $284,113.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Northeast Community Bancorp Stock Down 0.6%

NASDAQ NECB traded down $0.19 during trading hours on Tuesday, reaching $29.19. 50,498 shares of the company’s stock were exchanged, compared to its average volume of 44,550. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market capitalization of $401.95 million, a price-to-earnings ratio of 9.60 and a beta of 0.38. The company’s 50-day moving average is $27.22 and its two-hundred day moving average is $25.51. Northeast Community Bancorp Inc. has a one year low of $19.39 and a one year high of $29.69.

Northeast Community Bancorp (NASDAQ:NECB) last issued its quarterly earnings results on Thursday, October 22nd. The savings and loans company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.03). The company had revenue of $25.91 million for the quarter, compared to analyst estimates of $27.96 million. Northeast Community Bancorp had a net margin of 27.21% and a return on equity of 11.55%. On average, analysts forecast that Northeast Community Bancorp Inc. will post 3.24 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. Shareholders of record on Friday, October 9th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $1.00 annualized dividend and a yield of 3.4%. Northeast Community Bancorp’s payout ratio is 32.89%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Zacks Research raised shares of Northeast Community Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Northeast Community Bancorp in a research note on Tuesday, September 29th. Finally, Freedom Broker lifted their price target on shares of Northeast Community Bancorp from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, October 26th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $30.25.

Institutional Investors Weigh In On Northeast Community Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of NECB. Legal & General Group Plc purchased a new stake in Northeast Community Bancorp in the 2nd quarter worth $36,000. PNC Financial Services Group Inc. grew its stake in shares of Northeast Community Bancorp by 47.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,894 shares of the savings and loans company’s stock worth $116,000 after buying an additional 1,578 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Northeast Community Bancorp during the 2nd quarter valued at about $149,000. Sei Investments Co. purchased a new position in Northeast Community Bancorp in the first quarter worth about $243,000. Finally, Algert Global LLC bought a new stake in Northeast Community Bancorp during the second quarter worth approximately $249,000. 53.25% of the stock is owned by institutional investors.

Northeast Community Bancorp Company Profile

Northeast Community Bancorp, Inc is the holding company for Northeast Community Bank, a community-oriented savings bank headquartered in New York. The bank provides retail and commercial banking services to individuals, families, businesses and community organizations through its branch network in New York and New Jersey.

Northeast Community Bank offers deposit products such as checking, savings, money market and certificate of deposit accounts. Its lending activities include residential and multifamily real estate loans, commercial real estate financing, construction loans, home equity products and other loans for businesses and consumers.

The company emphasizes relationship-based banking and focuses on serving local markets, including communities in the New York metropolitan area and surrounding regions.