Insider Selling: Northeast Community Bancorp (NASDAQ:NECB) CFO Sells 3,000 Shares of Stock

Key Points

• CFO Donald Hom sold 3,000 Northeast Community Bancorp shares at an average price of $27.20, generating $81,600. He now directly owns 4,714 shares, a 38.89% reduction in his position.
• Northeast Community Bancorp reported quarterly EPS of $0.72, below the $0.76 analyst consensus, while revenue of $25.29 million also missed estimates.
• The company raised its quarterly dividend to $0.25 from $0.20, implying a $1.00 annualized payout and a 3.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $29.50.

Northeast Community Bancorp Inc. (NASDAQ:NECB - Get Free Report) CFO Donald Hom sold 3,000 shares of the business's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $27.20, for a total transaction of $81,600.00. Following the transaction, the chief financial officer directly owned 4,714 shares of the company's stock, valued at approximately $128,220.80. This represents a 38.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Northeast Community Bancorp Stock Performance

Shares of Northeast Community Bancorp stock traded down $0.42 during trading on Wednesday, reaching $27.05. The company's stock had a trading volume of 38,757 shares, compared to its average volume of 43,761. Northeast Community Bancorp Inc. has a one year low of $19.27 and a one year high of $28.94. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market cap of $373.56 million, a price-to-earnings ratio of 8.67 and a beta of 0.35. The business's fifty day moving average price is $25.94 and its 200-day moving average price is $24.64.

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) last released its earnings results on Friday, July 24th. The savings and loans company reported $0.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.04). The business had revenue of $25.29 million during the quarter, compared to analyst estimates of $25.76 million. Northeast Community Bancorp had a net margin of 27.67% and a return on equity of 12.10%. As a group, equities research analysts predict that Northeast Community Bancorp Inc. will post 3.16 earnings per share for the current year.

Northeast Community Bancorp Increases Dividend

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

Institutional Trading of Northeast Community Bancorp

Several institutional investors have recently modified their holdings of the company. Larson Financial Group LLC acquired a new position in shares of Northeast Community Bancorp in the third quarter valued at $28,000. Russell Investments Group Ltd. boosted its stake in Northeast Community Bancorp by 193.8% during the third quarter. Russell Investments Group Ltd. now owns 1,457 shares of the savings and loans company's stock worth $30,000 after buying an additional 961 shares in the last quarter. Harbour Investments Inc. boosted its stake in Northeast Community Bancorp by 109.9% during the fourth quarter. Harbour Investments Inc. now owns 1,522 shares of the savings and loans company's stock worth $34,000 after buying an additional 797 shares in the last quarter. IFP Advisors Inc increased its holdings in Northeast Community Bancorp by 78.4% in the 3rd quarter. IFP Advisors Inc now owns 1,821 shares of the savings and loans company's stock valued at $38,000 after buying an additional 800 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in Northeast Community Bancorp by 4,381.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,316 shares of the savings and loans company's stock valued at $75,000 after buying an additional 3,242 shares during the period. Institutional investors and hedge funds own 53.25% of the company's stock.

Wall Street Analysts Forecast Growth

NECB has been the subject of several research analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Northeast Community Bancorp in a research note on Thursday, July 2nd. Freedom Capital upgraded shares of Northeast Community Bancorp to a "strong-buy" rating in a report on Tuesday, March 31st. Finally, Piper Sandler upped their price objective on shares of Northeast Community Bancorp from $26.50 to $29.50 and gave the company a "neutral" rating in a research report on Friday, June 26th. One 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $29.50.

Northeast Community Bancorp Company Profile

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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