Northeast Community Bancorp (NASDAQ:NECB) CFO Sells $81,600.00 in Stock

Northeast Community Bancorp Inc. (NASDAQ:NECB) CFO Donald Hom sold 3,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer directly owned 4,714 shares of the company’s stock, valued at $128,220.80. This trade represents a 38.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Northeast Community Bancorp Price Performance

Shares of NASDAQ NECB opened at $26.70 on Friday. Northeast Community Bancorp Inc. has a twelve month low of $19.27 and a twelve month high of $28.94. The firm has a market cap of $368.73 million, a P/E ratio of 8.56 and a beta of 0.35. The company has a 50 day moving average of $26.11 and a 200 day moving average of $24.71. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.06.

Northeast Community Bancorp (NASDAQ:NECB) last released its quarterly earnings data on Friday, July 24th. The savings and loans company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.04). Northeast Community Bancorp had a net margin of 27.67% and a return on equity of 12.10%. The business had revenue of $25.29 million during the quarter, compared to the consensus estimate of $25.76 million. As a group, research analysts expect that Northeast Community Bancorp Inc. will post 3.16 EPS for the current fiscal year.

Northeast Community Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 6th. Stockholders of record on Tuesday, July 7th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, July 7th. This is an increase from Northeast Community Bancorp’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.7%. Northeast Community Bancorp’s dividend payout ratio is currently 32.05%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Northeast Community Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC bought a new position in shares of Northeast Community Bancorp during the 3rd quarter valued at $28,000. Russell Investments Group Ltd. grew its holdings in shares of Northeast Community Bancorp by 193.8% in the third quarter. Russell Investments Group Ltd. now owns 1,457 shares of the savings and loans company’s stock worth $30,000 after acquiring an additional 961 shares during the period. Harbour Investments Inc. grew its holdings in shares of Northeast Community Bancorp by 109.9% in the fourth quarter. Harbour Investments Inc. now owns 1,522 shares of the savings and loans company’s stock worth $34,000 after acquiring an additional 797 shares during the period. IFP Advisors Inc grew its holdings 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 during the period. Finally, PNC Financial Services Group Inc. increased its position in Northeast Community Bancorp by 4,381.1% during 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 acquiring an additional 3,242 shares during the last quarter. 53.25% of the stock is currently owned by hedge funds and other institutional investors.

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.