Northeast Community Bancorp Inc. (NASDAQ:NECB) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in shares of Northeast Community Bancorp Inc. (NASDAQ:NECB - Free Report) by 24.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 56,569 shares of the savings and loans company's stock after selling 17,822 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.40% of Northeast Community Bancorp worth $1,326,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NECB. Russell Investments Group Ltd. lifted its holdings in Northeast Community Bancorp by 342.7% in the fourth quarter. Russell Investments Group Ltd. now owns 2,479 shares of the savings and loans company's stock valued at $61,000 after acquiring an additional 1,919 shares during the period. Point72 Asset Management L.P. acquired a new stake in Northeast Community Bancorp in the fourth quarter valued at $61,000. BNP Paribas Financial Markets acquired a new stake in Northeast Community Bancorp in the fourth quarter valued at $78,000. Public Employees Retirement System of Ohio lifted its holdings in Northeast Community Bancorp by 973.6% in the fourth 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. Finally, GAMMA Investing LLC lifted its holdings in Northeast Community Bancorp by 2,801.8% in the first 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 owned by institutional investors and hedge funds.

Northeast Community Bancorp Stock Performance

Northeast Community Bancorp stock traded down $0.35 during midday trading on Friday, reaching $23.67. The company's stock had a trading volume of 28,493 shares, compared to its average volume of 57,682. Northeast Community Bancorp Inc. has a fifty-two week low of $19.15 and a fifty-two week high of $31.72. The stock's 50 day simple moving average is $23.19 and its 200 day simple moving average is $23.34. The firm has a market capitalization of $331.85 million, a PE ratio of 6.76 and a beta of 0.45.

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) last released its earnings results on Monday, April 21st. The savings and loans company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.01. Northeast Community Bancorp had a return on equity of 14.97% and a net margin of 28.73%. The company had revenue of $25.26 million during the quarter, compared to the consensus estimate of $25.49 million. Equities analysts predict 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 announced a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Monday, July 7th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Monday, July 7th. Northeast Community Bancorp's dividend payout ratio (DPR) is currently 22.86%.

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.