Millennium Management LLC Purchases 32,049 Shares of Northeast Community Bancorp, Inc. (NASDAQ:NECB)

Millennium Management LLC grew its stake in shares of Northeast Community Bancorp, Inc. (NASDAQ:NECB - Free Report) by 246.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,028 shares of the savings and loans company's stock after buying an additional 32,049 shares during the period. Millennium Management LLC owned 0.32% of Northeast Community Bancorp worth $1,101,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NECB. SG Americas Securities LLC lifted its position in shares of Northeast Community Bancorp by 10.4% during the 4th quarter. SG Americas Securities LLC now owns 5,325 shares of the savings and loans company's stock valued at $130,000 after buying an additional 500 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Northeast Community Bancorp by 5.0% during the 4th quarter. Empowered Funds LLC now owns 64,317 shares of the savings and loans company's stock valued at $1,573,000 after buying an additional 3,075 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Northeast Community Bancorp by 11.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 74,391 shares of the savings and loans company's stock valued at $1,820,000 after buying an additional 7,412 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Northeast Community Bancorp by 45.4% during the 4th 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 buying an additional 1,000 shares in the last quarter. Finally, Quartz Partners LLC purchased a new position in shares of Northeast Community Bancorp during the 4th quarter valued at about $2,205,000. 53.25% of the stock is owned by hedge funds and other institutional investors.

Northeast Community Bancorp Stock Performance

Shares of NECB stock traded up $0.41 during trading hours on Friday, reaching $22.39. 24,153 shares of the company traded hands, compared to its average volume of 58,406. Northeast Community Bancorp, Inc. has a 12-month low of $16.63 and a 12-month high of $31.72. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market cap of $313.97 million, a P/E ratio of 6.25 and a beta of 0.45. The firm has a 50-day moving average price of $22.50 and a 200 day moving average price of $24.11.

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The savings and loans company reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.01. Northeast Community Bancorp had a return on equity of 15.96% and a net margin of 29.36%. The firm had revenue of $25.26 million for the quarter, compared to analysts' expectations of $25.49 million. As a group, sell-side analysts predict 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 announced a quarterly dividend, which was paid on Tuesday, May 6th. Investors of record on Monday, April 7th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend was Monday, April 7th. This is an increase from Northeast Community Bancorp's previous quarterly dividend of $0.15. Northeast Community Bancorp's dividend payout ratio (DPR) 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.