Key Points
- CFO Donald Hom sold 3,000 Northeast Community Bancorp shares at an average price of $27.20, reducing his ownership by 38.89% to 4,714 shares.
- Northeast Community Bancorp reported quarterly EPS of $0.72, below the $0.76 analyst consensus, while revenue of $25.29 million also narrowly missed estimates.
- The company increased its quarterly dividend from $0.20 to $0.25 per share, equivalent to a $1.00 annualized payout and a 3.7% yield; analysts maintain a “Moderate Buy” consensus with a $29.50 average price target.
Northeast Community Bancorp Inc. (NASDAQ:NECB - Get Free Report) CFO Donald Hom sold 3,000 shares of the firm's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $27.20, for a total value of $81,600.00. Following the transaction, the chief financial officer owned 4,714 shares of the company's stock, valued at $128,220.80. The trade was a 38.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Northeast Community Bancorp Price Performance
NECB opened at $27.05 on Thursday. The stock has a 50-day moving average price of $26.00 and a 200-day moving average price of $24.67. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a market cap of $373.56 million, a PE ratio of 8.67 and a beta of 0.35. Northeast Community Bancorp Inc. has a 1 year low of $19.27 and a 1 year high of $28.94.
Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) last announced its quarterly earnings results on Friday, July 24th. The savings and loans company reported $0.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.04). Northeast Community Bancorp had a return on equity of 12.10% and a net margin of 27.67%.The firm had revenue of $25.29 million during the quarter, compared to the consensus estimate of $25.76 million. Sell-side analysts predict that Northeast Community Bancorp Inc. will post 3.16 earnings per share for the current fiscal year.
Northeast Community Bancorp Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 6th. Shareholders of record on Tuesday, July 7th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.7%. This is a boost from Northeast Community Bancorp's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, July 7th. Northeast Community Bancorp's dividend payout ratio is presently 32.05%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of Northeast Community Bancorp in a report on Thursday, July 2nd. Piper Sandler boosted their price objective on shares of Northeast Community Bancorp from $26.50 to $29.50 and gave the stock a "neutral" rating in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $29.50.
Get Our Latest Research Report on NECB
Institutional Investors Weigh In On Northeast Community Bancorp
Several institutional investors have recently modified their holdings of the business. AQR Capital Management LLC bought a new stake in Northeast Community Bancorp in the 1st quarter worth about $1,779,000. Millennium Management LLC raised its position in Northeast Community Bancorp by 261.8% in the 1st quarter. Millennium Management LLC now owns 162,916 shares of the savings and loans company's stock worth $3,819,000 after buying an additional 117,888 shares during the last quarter. Empowered Funds LLC lifted its stake in Northeast Community Bancorp by 7.4% during the 1st quarter. Empowered Funds LLC now owns 69,058 shares of the savings and loans company's stock valued at $1,619,000 after acquiring an additional 4,741 shares during the period. Jane Street Group LLC lifted its stake in Northeast Community Bancorp by 78.3% during the 1st quarter. Jane Street Group LLC now owns 25,696 shares of the savings and loans company's stock valued at $602,000 after acquiring an additional 11,286 shares during the period. Finally, First Trust Advisors LP lifted its stake in Northeast Community Bancorp by 4.6% during the 2nd quarter. First Trust Advisors LP now owns 58,616 shares of the savings and loans company's stock valued at $1,363,000 after acquiring an additional 2,602 shares during the period. 53.25% of the stock is owned by hedge funds and other institutional investors.
Northeast Community Bancorp Company Profile
(
Get Free Report)
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.
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