Northeast Community Bancorp (NASDAQ:NECB) Rating Increased to Strong-Buy at Zacks Research

Northeast Community Bancorp (NASDAQ:NECB) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Northeast Community Bancorp Trading Down 1.5%

NECB stock opened at $20.13 on Wednesday. The company has a market cap of $282.42 million, a P/E ratio of 6.01 and a beta of 0.53. Northeast Community Bancorp has a twelve month low of $19.75 and a twelve month high of $31.72. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.40. The business has a fifty day moving average of $21.43 and a 200-day moving average of $22.37.

Northeast Community Bancorp (NASDAQ:NECB) last released its earnings results on Thursday, July 24th. The savings and loans company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.03. The company had revenue of $25.93 million during the quarter, compared to the consensus estimate of $25.96 million. Northeast Community Bancorp had a return on equity of 14.04% and a net margin of 28.09%. As a group, equities research analysts expect that Northeast Community Bancorp will post 3.04 EPS for the current year.

Hedge Funds Weigh In On Northeast Community Bancorp

Institutional investors have recently modified their holdings of the stock. CWM LLC increased its stake in shares of Northeast Community Bancorp by 2,966.1% in the 1st quarter. CWM LLC now owns 1,717 shares of the savings and loans company’s stock valued at $40,000 after acquiring an additional 1,661 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Northeast Community Bancorp by 46.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,459 shares of the savings and loans company’s stock valued at $80,000 after acquiring an additional 1,102 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Northeast Community Bancorp by 973.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 4,477 shares of the savings and loans company’s stock valued at $110,000 after acquiring an additional 4,060 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Northeast Community Bancorp by 65.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 5,060 shares of the savings and loans company’s stock valued at $119,000 after acquiring an additional 2,000 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Northeast Community Bancorp by 2,801.8% in the 1st quarter. GAMMA Investing LLC now owns 6,587 shares of the savings and loans company’s stock valued at $154,000 after acquiring an additional 6,360 shares during the period. 53.25% of the stock is currently owned by institutional investors and hedge funds.

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.