Los Angeles Capital Management LLC Purchases Shares of 44,240 Northeast Community Bancorp Inc. $NECB

Los Angeles Capital Management LLC acquired a new position in shares of Northeast Community Bancorp Inc. (NASDAQ:NECB) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 44,240 shares of the savings and loans company’s stock, valued at approximately $1,028,000.

Other hedge funds have also made changes to their positions in the company. Boston Partners raised its holdings in Northeast Community Bancorp by 4.0% in the 1st quarter. Boston Partners now owns 25,831 shares of the savings and loans company’s stock valued at $605,000 after acquiring an additional 995 shares in the last quarter. CWM LLC increased its position in shares of Northeast Community Bancorp by 82.3% during the second quarter. CWM LLC now owns 3,130 shares of the savings and loans company’s stock valued at $73,000 after purchasing an additional 1,413 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Northeast Community Bancorp by 65.4% in the first quarter. Geneos Wealth Management Inc. now owns 5,060 shares of the savings and loans company’s stock valued at $119,000 after purchasing an additional 2,000 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in Northeast Community Bancorp by 29.6% in the first quarter. Cubist Systematic Strategies LLC now owns 16,520 shares of the savings and loans company’s stock worth $387,000 after purchasing an additional 3,774 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Northeast Community Bancorp by 7.0% in the first quarter. Bank of New York Mellon Corp now owns 64,517 shares of the savings and loans company’s stock worth $1,512,000 after purchasing an additional 4,238 shares during the period. Institutional investors own 53.25% of the company’s stock.

Northeast Community Bancorp Price Performance

Shares of Northeast Community Bancorp stock opened at $20.15 on Thursday. The stock has a market capitalization of $282.70 million, a price-to-earnings ratio of 6.16 and a beta of 0.56. The firm’s 50-day moving average price is $20.58 and its two-hundred day moving average price is $21.96. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.50. Northeast Community Bancorp Inc. has a 1-year low of $19.27 and a 1-year high of $31.72.

Northeast Community Bancorp (NASDAQ:NECB) last announced its earnings results on Friday, October 24th. The savings and loans company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.84 by $0.03. The business had revenue of $26.61 million for the quarter, compared to the consensus estimate of $26.80 million. Northeast Community Bancorp had a return on equity of 13.43% and a net margin of 27.97%. On average, equities analysts predict that Northeast Community Bancorp Inc. will post 3.04 earnings per share for the current fiscal year.

Northeast Community Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Friday, October 3rd were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $0.80 dividend on an annualized basis and a yield of 4.0%. Northeast Community Bancorp’s dividend payout ratio is currently 24.46%.

Insiders Place Their Bets

In other Northeast Community Bancorp news, CFO Donald S. Hom sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $20.23, for a total value of $40,460.00. Following the completion of the transaction, the chief financial officer directly owned 5,759 shares of the company’s stock, valued at approximately $116,504.57. The trade was a 25.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NECB. Zacks Research upgraded shares of Northeast Community Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Weiss Ratings lowered shares of Northeast Community Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy”.

Northeast Community Bancorp Company Profile

Northeast Community Bancorp, Inc operates as the holding company for NorthEast Community Bank that provides financial services for individuals and businesses. It accepts various deposit instruments, including checking accounts, money market accounts, regular savings accounts, and non-interest bearing demand accounts, as well as certificates of deposits.