Empowered Funds LLC Invests $2.69 Million in Northeast Community Bancorp Inc. $NECB

Key Points

• Empowered Funds LLC acquired 96,974 shares of Northeast Community Bancorp worth approximately $2.69 million, representing about 0.70% of the company. Institutional investors and hedge funds collectively own 53.25% of NECB.
• Northeast Community Bancorp reported quarterly revenue of $25.29 million and earnings of $0.72 per share, both slightly below analyst expectations. CFO Donald S. Hom also sold 3,000 shares at an average price of $27.20.
• The company increased its quarterly dividend from $0.20 to $0.25 per share, implying an annualized dividend of $1.00 and a 3.7% yield. Analysts maintain a “Moderate Buy” consensus with a $29.50 price target.

Empowered Funds LLC acquired a new stake in shares of Northeast Community Bancorp Inc. (NASDAQ:NECB - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 96,974 shares of the savings and loans company's stock, valued at approximately $2,690,000. Empowered Funds LLC owned about 0.70% of Northeast Community Bancorp at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Legal & General Group Plc purchased a new position in Northeast Community Bancorp in the 2nd quarter worth $36,000. Larson Financial Group LLC purchased a new stake in Northeast Community Bancorp during the 3rd quarter valued at about $28,000. Russell Investments Group Ltd. grew its stake in Northeast Community Bancorp by 193.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,457 shares of the savings and loans company's stock valued at $30,000 after purchasing an additional 961 shares during the last quarter. Harbour Investments Inc. increased its holdings in shares of Northeast Community Bancorp by 109.9% in the fourth quarter. Harbour Investments Inc. now owns 1,522 shares of the savings and loans company's stock valued at $34,000 after purchasing an additional 797 shares during the period. Finally, IFP Advisors Inc increased its holdings in shares of Northeast Community Bancorp by 78.4% in the third quarter. IFP Advisors Inc now owns 1,821 shares of the savings and loans company's stock valued at $38,000 after purchasing an additional 800 shares during the period. 53.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Northeast Community Bancorp

In related news, CFO Donald S. Hom sold 3,000 shares of the business'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 completion of the transaction, the chief financial officer directly owned 4,714 shares in the company, valued at $128,220.80. The trade was a 38.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 7.12% of the stock is currently owned by company insiders.

Northeast Community Bancorp Stock Up 2.1%

Shares of NECB opened at $26.74 on Thursday. The company has a market capitalization of $368.21 million, a price-to-earnings ratio of 8.57 and a beta of 0.36. Northeast Community Bancorp Inc. has a 52 week low of $19.27 and a 52 week high of $28.94. The stock's 50-day moving average price is $26.79 and its 200-day moving average price is $25.19. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53.

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The savings and loans company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.04). Northeast Community Bancorp had a net margin of 27.67% and a return on equity of 12.00%. The company had revenue of $25.29 million for the quarter, compared to analysts' expectations of $25.76 million. On average, sell-side analysts predict that Northeast Community Bancorp Inc. will post 3.16 EPS for the current year.

Northeast Community Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 6th. Stockholders of record on Tuesday, July 7th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, July 7th. This is a positive change from Northeast Community Bancorp's previous quarterly dividend of $0.20. Northeast Community Bancorp's dividend payout ratio is 32.05%.

Wall Street Analysts Forecast Growth

NECB has been the subject of several research analyst reports. Piper Sandler raised their price objective on Northeast Community Bancorp from $26.50 to $29.50 and gave the stock a "neutral" rating in a research note on Friday, June 26th. Weiss Ratings reiterated a "buy (b)" rating on shares of Northeast Community Bancorp in a research report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Northeast Community Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $29.50.

About Northeast Community Bancorp

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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