Acadian Asset Management LLC Increases Stake in Northeast Community Bancorp Inc. $NECB

Key Points

• Acadian Asset Management LLC increased its stake in Northeast Community Bancorp Inc. by 19.3%, acquiring a total of 282,384 shares worth approximately $6.62 million as of the latest SEC filing.
• Northeast Community Bancorp recently reported an EPS of $0.82 for the quarter, beating estimates, and announced a special dividend of $0.20 payable on October 6th.
• The company has a market capitalization of around $297.07 million and a P/E ratio of 6.32, indicating strong financial performance relative to its market value.

Acadian Asset Management LLC increased its position in Northeast Community Bancorp Inc. (NASDAQ:NECB - Free Report) by 19.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 282,384 shares of the savings and loans company's stock after acquiring an additional 45,726 shares during the quarter. Acadian Asset Management LLC owned about 2.01% of Northeast Community Bancorp worth $6,618,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Millennium Management LLC increased its holdings in 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 worth $1,101,000 after acquiring an additional 32,049 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in Northeast Community Bancorp by 1.9% in the 4th quarter. Nuveen Asset Management LLC now owns 50,411 shares of the savings and loans company's stock worth $1,233,000 after acquiring an additional 954 shares during the last quarter. GAMMA Investing LLC boosted its stake in 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 worth $154,000 after purchasing an additional 6,360 shares during the period. BNP Paribas Financial Markets purchased a new position in Northeast Community Bancorp during the 4th quarter valued at about $78,000. Finally, Nuveen LLC bought a new stake in shares of Northeast Community Bancorp during the first quarter valued at about $1,182,000. Hedge funds and other institutional investors own 53.25% of the company's stock.

Northeast Community Bancorp Price Performance

Shares of NASDAQ:NECB opened at $21.18 on Friday. The company has a 50 day moving average of $22.18 and a 200 day moving average of $22.55. The stock has a market cap of $297.07 million, a P/E ratio of 6.32 and a beta of 0.47. Northeast Community Bancorp Inc. has a 12 month low of $19.75 and a 12 month high of $31.72. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.40.

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

Northeast Community Bancorp Dividend Announcement

The company also recently announced a special dividend, which will be paid on Monday, October 6th. Investors of record on Monday, September 8th will be given a $0.20 dividend. The ex-dividend date is Monday, September 8th. Northeast Community Bancorp's payout ratio is presently 23.88%.

Northeast Community Bancorp 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.

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