Northeast Community Bancorp (NASDAQ:NECB) Issues Quarterly Earnings Results

Northeast Community Bancorp (NASDAQ:NECB) issued its quarterly earnings data on Thursday. The savings and loans company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.03), Zacks reports. Northeast Community Bancorp had a net margin of 27.67% and a return on equity of 12.00%. The company had revenue of $25.91 million for the quarter, compared to analysts’ expectations of $27.96 million.

Northeast Community Bancorp Stock Performance

Shares of NASDAQ:NECB opened at $28.78 on Friday. The company has a market capitalization of $396.30 million, a price-to-earnings ratio of 9.22 and a beta of 0.38. Northeast Community Bancorp has a 12 month low of $19.27 and a 12 month high of $29.05. The firm’s 50-day moving average is $26.94 and its 200 day moving average is $26.05. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 9th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, October 9th. Northeast Community Bancorp’s dividend payout ratio is presently 32.05%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Piper Sandler lifted their target price on Northeast Community Bancorp from $26.50 to $29.50 and gave the stock a “neutral” rating in a report on Friday, June 26th. Zacks Research upgraded Northeast Community Bancorp from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Northeast Community Bancorp in a research report on Tuesday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $29.50.

Insider Transactions at Northeast Community Bancorp

In other Northeast Community Bancorp news, CFO Donald S. Hom sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $27.20, for a total value of $81,600.00. Following the completion of the sale, the chief financial officer owned 4,714 shares of the company’s stock, valued at $128,220.80. This trade represents a 38.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 7.12% of the stock is currently owned by insiders.

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.