Invesco Ltd. Lowers Stock Holdings in Northeast Community Bancorp Inc. $NECB

Key Points

• Invesco Ltd. significantly reduced its stake in Northeast Community Bancorp Inc. by 84.5%, selling 151,496 shares and retaining only 27,842 shares worth approximately $653,000.
• The company reported a quarterly earnings per share (EPS) of $0.82, exceeding analysts' expectations of $0.79, with revenue approximating $25.93 million.
• Northeast Community Bancorp has declared a special dividend of $0.20, with a dividend yield of 350.0%, set to be paid on October 6th to stockholders of record on September 8th.

Invesco Ltd. cut its position in shares of Northeast Community Bancorp Inc. (NASDAQ:NECB - Free Report) by 84.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,842 shares of the savings and loans company's stock after selling 151,496 shares during the quarter. Invesco Ltd. owned 0.20% of Northeast Community Bancorp worth $653,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NECB. Arkadios Wealth Advisors raised its holdings in Northeast Community Bancorp by 714.8% during the first quarter. Arkadios Wealth Advisors now owns 88,171 shares of the savings and loans company's stock worth $2,067,000 after purchasing an additional 77,350 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Northeast Community Bancorp by 20.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 338,918 shares of the savings and loans company's stock worth $8,290,000 after buying an additional 56,607 shares in the last quarter. Millennium Management LLC increased its position in Northeast Community Bancorp by 246.9% during the fourth quarter. Millennium Management LLC now owns 45,028 shares of the savings and loans company's stock worth $1,101,000 after buying an additional 32,049 shares in the last quarter. Benjamin Edwards Inc. purchased a new position in Northeast Community Bancorp during the first quarter worth $384,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Northeast Community Bancorp during the fourth quarter worth $354,000. 53.25% of the stock is owned by institutional investors and hedge funds.

Northeast Community Bancorp Price Performance

Northeast Community Bancorp stock traded down $0.35 during mid-day trading on Friday, hitting $22.18. 18,405 shares of the company were exchanged, compared to its average volume of 41,122. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.25 and a quick ratio of 1.25. The business's 50 day simple moving average is $22.46 and its two-hundred day simple moving average is $22.61. The company has a market capitalization of $311.10 million, a P/E ratio of 6.62 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.

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

Northeast Community Bancorp Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Monday, October 6th. Stockholders of record on Monday, September 8th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a dividend yield of 350.0%. Northeast Community Bancorp's payout ratio is currently 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.