Acadian Asset Management LLC Purchases 45,726 Shares of 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 lifted its stake in shares of Northeast Community Bancorp Inc. (NASDAQ:NECB - Free Report) by 19.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 282,384 shares of the savings and loans company's stock after buying an additional 45,726 shares during the period. Acadian Asset Management LLC owned about 2.01% of Northeast Community Bancorp worth $6,618,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. CWM LLC boosted its position in shares of Northeast Community Bancorp by 2,966.1% during the first quarter. CWM LLC now owns 1,717 shares of the savings and loans company's stock valued at $40,000 after buying an additional 1,661 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Northeast Community Bancorp during the fourth quarter valued at approximately $61,000. BNP Paribas Financial Markets purchased a new position in shares of Northeast Community Bancorp during the fourth quarter valued at approximately $78,000. Public Employees Retirement System of Ohio lifted its holdings in Northeast Community Bancorp by 973.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 4,477 shares of the savings and loans company's stock worth $110,000 after acquiring an additional 4,060 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in Northeast Community Bancorp by 65.4% during the first quarter. Geneos Wealth Management Inc. now owns 5,060 shares of the savings and loans company's stock worth $119,000 after acquiring an additional 2,000 shares during the period. Hedge funds and other institutional investors own 53.25% of the company's stock.

Northeast Community Bancorp Stock Performance

Northeast Community Bancorp stock traded up $0.48 during mid-day trading on Thursday, reaching $21.28. 204,497 shares of the company's stock were exchanged, compared to its average volume of 33,957. The business's fifty day simple moving average is $21.92 and its 200 day simple moving average is $22.49. The firm has a market capitalization of $298.56 million, a PE ratio of 6.35 and a beta of 0.47. Northeast Community Bancorp Inc. has a one year low of $19.75 and a one year 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.

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The savings and loans company reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.03. The business had revenue of $25.93 million for the quarter, compared to analyst estimates of $25.96 million. Northeast Community Bancorp had a return on equity of 14.04% and a net margin of 28.09%. On average, sell-side analysts expect that Northeast Community Bancorp Inc. will post 3.04 earnings per share for the current year.

Northeast Community Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 3rd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.8%. Northeast Community Bancorp's dividend payout ratio (DPR) is currently 23.88%.

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.