Globeflex Capital L P Makes New $838,000 Investment in Northeast Community Bancorp Inc. $NECB

Globeflex Capital L P purchased a new position in shares of Northeast Community Bancorp Inc. (NASDAQ:NECB) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 30,207 shares of the savings and loans company’s stock, valued at approximately $838,000.

Several other large investors also recently modified their holdings of NECB. BlackRock Inc. acquired a new position in shares of Northeast Community Bancorp during the 2nd quarter valued at $35,060,000. Vanguard Group Inc. grew its holdings in Northeast Community Bancorp by 0.3% in the third quarter. Vanguard Group Inc. now owns 671,486 shares of the savings and loans company’s stock worth $13,812,000 after purchasing an additional 1,695 shares during the period. Dimensional Fund Advisors LP increased its stake in Northeast Community Bancorp by 5.8% in the first quarter. Dimensional Fund Advisors LP now owns 466,870 shares of the savings and loans company’s stock valued at $11,112,000 after purchasing an additional 25,687 shares in the last quarter. Geode Capital Management LLC increased its stake in Northeast Community Bancorp by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 395,299 shares of the savings and loans company’s stock valued at $8,939,000 after purchasing an additional 12,250 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Northeast Community Bancorp by 19.4% during the first quarter. Renaissance Technologies LLC now owns 176,205 shares of the savings and loans company’s stock valued at $4,194,000 after purchasing an additional 28,605 shares during the period. Institutional investors and hedge funds own 53.25% of the company’s stock.

Insider Buying and Selling

In other Northeast Community Bancorp news, CFO Donald S. Hom sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $27.20, for a total transaction of $81,600.00. Following the completion of the sale, the chief financial officer directly owned 4,714 shares of the company’s stock, valued at approximately $128,220.80. The trade was a 38.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NECB. Weiss Ratings reissued a “buy (b)” rating on shares of Northeast Community Bancorp in a research report on Thursday, July 2nd. Piper Sandler upped their price target on Northeast Community Bancorp from $26.50 to $29.50 and gave the stock a “neutral” rating in a research note on Friday, June 26th. One investment 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. According to data from MarketBeat, Northeast Community Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $29.50.

Northeast Community Bancorp Stock Performance

NECB opened at $26.49 on Tuesday. The company has a market cap of $364.77 million, a price-to-earnings ratio of 8.49 and a beta of 0.36. The company’s fifty day moving average price is $26.74 and its two-hundred day moving average price is $25.10. Northeast Community Bancorp Inc. has a 1-year low of $19.27 and a 1-year 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.

Northeast Community Bancorp (NASDAQ:NECB) last posted its 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). Northeast Community Bancorp had a return on equity of 12.00% and a net margin of 27.67%.The business had revenue of $25.29 million for the quarter, compared to the consensus estimate of $25.76 million. On average, analysts expect that Northeast Community Bancorp Inc. will post 3.16 EPS for the current fiscal year.

Northeast Community Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 6th. Shareholders of record on Tuesday, July 7th were paid a dividend of $0.25 per share. This is an increase from Northeast Community Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, July 7th. This represents a $1.00 dividend on an annualized basis and a yield of 3.8%. Northeast Community Bancorp’s dividend payout ratio (DPR) is presently 32.05%.

Northeast Community Bancorp 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.