Northeast Community Bancorp Inc. $NECB Shares Purchased by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P increased its stake in Northeast Community Bancorp by 52.1%, owning 49,651 shares worth $1,164,000 after acquiring an additional 17,000 shares.
• Northeast Community Bancorp recently declared a special dividend of $0.20, with a record date of September 8th, representing a yield of 350.0%.
• The company's stock has experienced a 7.5% increase, with earnings reported at $0.82 per share, surpassing analysts' expectations.

Martingale Asset Management L P increased its stake in shares of Northeast Community Bancorp Inc. (NASDAQ:NECB - Free Report) by 52.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,651 shares of the savings and loans company's stock after purchasing an additional 17,000 shares during the quarter. Martingale Asset Management L P owned 0.35% of Northeast Community Bancorp worth $1,164,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NECB. LPL Financial LLC acquired a new position in shares of Northeast Community Bancorp during the 4th quarter worth about $479,000. JPMorgan Chase & Co. boosted its position in shares of Northeast Community Bancorp by 223.5% during the 4th quarter. JPMorgan Chase & Co. now owns 65,718 shares of the savings and loans company's stock worth $1,607,000 after acquiring an additional 45,403 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Northeast Community Bancorp by 26.9% during the 4th quarter. Wells Fargo & Company MN now owns 7,430 shares of the savings and loans company's stock worth $182,000 after acquiring an additional 1,576 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Northeast Community Bancorp by 342.7% during the 4th quarter. Russell Investments Group Ltd. now owns 2,479 shares of the savings and loans company's stock worth $61,000 after acquiring an additional 1,919 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of Northeast Community Bancorp by 15.2% during the 4th quarter. Barclays PLC now owns 20,595 shares of the savings and loans company's stock worth $504,000 after acquiring an additional 2,720 shares in the last quarter. 53.25% of the stock is owned by institutional investors and hedge funds.

Northeast Community Bancorp Stock Up 0.3%

Shares of NASDAQ:NECB traded up $0.06 on Friday, hitting $22.77. 1,133 shares of the company's stock were exchanged, compared to its average volume of 46,122. The firm's 50-day moving average is $22.56 and its 200 day moving average is $22.70. The company has a market capitalization of $319.37 million, a PE ratio of 6.75 and a beta of 0.45. Northeast Community Bancorp Inc. has a 1-year low of $19.75 and a 1-year high of $31.72. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.25 and a current ratio of 1.25.

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) last announced its earnings results on Thursday, July 24th. The savings and loans company reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.03. The firm had revenue of $25.93 million during the quarter, compared to analysts' expectations of $25.96 million. Northeast Community Bancorp had a return on equity of 14.04% and a net margin of 28.09%. Sell-side analysts predict that Northeast Community Bancorp Inc. will post 3.04 EPS for the current year.

Northeast Community Bancorp Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Monday, October 6th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a yield of 350.0%. Northeast Community Bancorp's dividend payout ratio is currently 23.88%.

Northeast Community Bancorp Company 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.