Northeast Community Bancorp Inc. (NASDAQ:NECB) Short Interest Up 59.4% in January

Northeast Community Bancorp Inc. (NASDAQ:NECB) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totaling 128,518 shares, an increase of 59.4% from the December 31st total of 80,630 shares. Based on an average daily volume of 63,068 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.0% of the company’s stock are sold short. Currently, 1.0% of the company’s stock are sold short. Based on an average daily volume of 63,068 shares, the days-to-cover ratio is currently 2.0 days.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NECB shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Northeast Community Bancorp in a research report on Thursday, January 22nd. Zacks Research lowered Northeast Community Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 28th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Northeast Community Bancorp Price Performance

Shares of NASDAQ:NECB traded up $0.15 on Friday, reaching $23.60. 56,789 shares of the company traded hands, compared to its average volume of 55,409. Northeast Community Bancorp has a fifty-two week low of $19.27 and a fifty-two week high of $25.49. The stock has a market capitalization of $331.04 million, a PE ratio of 7.24 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.27 and a quick ratio of 1.27. The company’s 50 day moving average is $22.72 and its 200-day moving average is $21.65.

Northeast Community Bancorp (NASDAQ:NECB) last released its earnings results on Wednesday, January 28th. The savings and loans company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.06). Northeast Community Bancorp had a return on equity of 13.22% and a net margin of 28.07%.The firm had revenue of $26.45 million during the quarter, compared to analysts’ expectations of $27.15 million. As a group, analysts anticipate that Northeast Community Bancorp will post 3.04 earnings per share for the current fiscal year.

Northeast Community Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 6th. Stockholders of record on Monday, January 5th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, January 5th. Northeast Community Bancorp’s payout ratio is currently 24.54%.

Northeast Community Bancorp announced that its board has initiated a share repurchase plan on Monday, December 8th that permits the company to buyback $1.40 million in shares. This buyback authorization permits the savings and loans company to reacquire up to 0.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Northeast Community Bancorp

A number of hedge funds have recently added to or reduced their stakes in NECB. Los Angeles Capital Management LLC acquired a new position in Northeast Community Bancorp in the second quarter worth $1,028,000. Allianz Asset Management GmbH acquired a new stake in shares of Northeast Community Bancorp in the second quarter valued at $363,000. LSV Asset Management raised its holdings in shares of Northeast Community Bancorp by 28.4% in the second quarter. LSV Asset Management now owns 296,896 shares of the savings and loans company’s stock valued at $6,901,000 after buying an additional 65,717 shares during the last quarter. Inspire Investing LLC lifted its position in Northeast Community Bancorp by 16.5% during the 2nd quarter. Inspire Investing LLC now owns 38,517 shares of the savings and loans company’s stock worth $895,000 after buying an additional 5,469 shares in the last quarter. Finally, Arkadios Wealth Advisors grew its holdings in Northeast Community Bancorp by 10.9% during the 2nd quarter. Arkadios Wealth Advisors now owns 97,759 shares of the savings and loans company’s stock worth $2,272,000 after acquiring an additional 9,588 shares during the last quarter. Institutional investors and hedge funds own 53.25% of the company’s stock.

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.