Nuveen LLC Acquires New Stake in Northeast Community Bancorp Inc. $NECB

Key Points

• Nuveen LLC purchased 50,411 shares of Northeast Community Bancorp Inc., valued at approximately $1.18 million, representing a 0.36% stake in the company.
• Northeast Community Bancorp recently reported $0.82 EPS, exceeding analysts' expectations of $0.79, and announced a special dividend of $0.20 per share to be paid on October 6th.
• The company has a market capitalization of $316.29 million and institutional investors own 53.25% of its stock, indicating strong interest from large investors.

Nuveen LLC acquired a new position in Northeast Community Bancorp Inc. (NASDAQ:NECB - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 50,411 shares of the savings and loans company's stock, valued at approximately $1,182,000. Nuveen LLC owned 0.36% of Northeast Community Bancorp as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of NECB. Arkadios Wealth Advisors lifted its stake in shares of Northeast Community Bancorp by 714.8% in the 1st quarter. Arkadios Wealth Advisors now owns 88,171 shares of the savings and loans company's stock valued at $2,067,000 after purchasing an additional 77,350 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Northeast Community Bancorp by 20.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 338,918 shares of the savings and loans company's stock valued at $8,290,000 after purchasing an additional 56,607 shares during the period. Millennium Management LLC lifted its stake in shares of Northeast Community Bancorp by 246.9% in the 4th quarter. Millennium Management LLC now owns 45,028 shares of the savings and loans company's stock valued at $1,101,000 after purchasing an additional 32,049 shares during the period. Benjamin Edwards Inc. purchased a new position in shares of Northeast Community Bancorp in the 1st quarter valued at approximately $384,000. Finally, Black Maple Capital Management LP purchased a new position in shares of Northeast Community Bancorp in the 4th quarter valued at approximately $387,000. Hedge funds and other institutional investors own 53.25% of the company's stock.

Northeast Community Bancorp Stock Down 1.6%

Shares of NECB traded down $0.35 on Friday, reaching $22.18. The stock had a trading volume of 18,405 shares, compared to its average volume of 41,122. The firm has a market capitalization of $311.19 million, a price-to-earnings ratio of 6.62 and a beta of 0.47. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.25 and a current ratio of 1.25. The company has a 50-day simple moving average of $22.46 and a 200-day simple moving average of $22.62. Northeast Community Bancorp Inc. has a 12-month low of $19.75 and a 12-month high of $31.72.

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) last released its earnings results on Thursday, July 24th. The savings and loans company reported $0.82 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.03. The company had revenue of $25.93 million during the quarter, compared to analysts' expectations of $25.96 million. Northeast Community Bancorp had a return on equity of 14.04% and a net margin of 28.09%. Sell-side analysts predict that Northeast Community Bancorp Inc. will post 3.04 EPS for the current year.

Northeast Community Bancorp Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Monday, October 6th. Investors of record on Monday, September 8th will be given a dividend of $0.20 per share. This represents a yield of 350.0%. The ex-dividend date of this dividend is Monday, September 8th. Northeast Community Bancorp's dividend payout ratio (DPR) is 23.88%.

About Northeast Community Bancorp

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.