Northeast Community Bancorp, Inc. (NASDAQ:NECB) Shares Bought by Millennium Management LLC

Millennium Management LLC raised its holdings in shares of Northeast Community Bancorp, Inc. (NASDAQ:NECB - Free Report) by 246.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,028 shares of the savings and loans company's stock after purchasing an additional 32,049 shares during the period. Millennium Management LLC owned about 0.32% of Northeast Community Bancorp worth $1,101,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its holdings in shares of Northeast Community Bancorp by 342.7% in the 4th quarter. Russell Investments Group Ltd. now owns 2,479 shares of the savings and loans company's stock valued at $61,000 after buying an additional 1,919 shares during the period. SBI Securities Co. Ltd. bought a new position in Northeast Community Bancorp in the fourth quarter worth about $70,000. New York State Common Retirement Fund boosted its stake in Northeast Community Bancorp by 45.4% in the fourth quarter. New York State Common Retirement Fund now owns 3,205 shares of the savings and loans company's stock valued at $78,000 after acquiring an additional 1,000 shares during the period. BNP Paribas Financial Markets acquired a new position in Northeast Community Bancorp in the fourth quarter valued at approximately $78,000. Finally, SG Americas Securities LLC grew its holdings in shares of Northeast Community Bancorp by 10.4% during the fourth quarter. SG Americas Securities LLC now owns 5,325 shares of the savings and loans company's stock valued at $130,000 after purchasing an additional 500 shares during the last quarter. 53.25% of the stock is owned by institutional investors and hedge funds.

Northeast Community Bancorp Stock Performance

Shares of Northeast Community Bancorp stock traded up $0.41 on Friday, reaching $22.39. 24,153 shares of the company were exchanged, compared to its average volume of 58,256. The firm has a market cap of $313.97 million, a price-to-earnings ratio of 6.25 and a beta of 0.45. Northeast Community Bancorp, Inc. has a 1-year low of $16.63 and a 1-year high of $31.72. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.14 and a current ratio of 1.14. The company's 50-day moving average is $22.53 and its two-hundred day moving average is $24.24.

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The savings and loans company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.01. The company had revenue of $25.26 million during the quarter, compared to the consensus estimate of $25.49 million. Northeast Community Bancorp had a net margin of 29.36% and a return on equity of 15.96%. As a group, research analysts expect that Northeast Community Bancorp, Inc. will post 3.04 earnings per share for the current fiscal year.

Northeast Community Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Stockholders of record on Monday, April 7th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date was Monday, April 7th. This is a boost from Northeast Community Bancorp's previous quarterly dividend of $0.15. Northeast Community Bancorp's payout ratio is 22.86%.

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.