Northeast Community Bancorp Inc. Plans Quarterly Dividend of $0.20 (NASDAQ:NECB)

Key Points

• Northeast Community Bancorp Inc. declared a quarterly dividend of $0.20 per share, resulting in an annualized yield of 3.8% for investors of record as of October 3rd.
• The company's recent earnings report showed an EPS of $0.82, exceeding estimates, with a net margin of 28.09% and a return on equity of 14.04%.
• Institutional investors hold 53.25% of Northeast Community Bancorp's stock, with significant increases in holdings from firms such as Millennium Management and Arkadios Wealth Advisors.

Northeast Community Bancorp Inc. (NASDAQ:NECB - Get Free Report) declared a quarterly dividend on Thursday, September 18th, RTT News reports. Stockholders of record on Friday, October 3rd will be given a dividend of 0.20 per share by the savings and loans company on Friday, November 7th. This represents a c) annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, October 3rd.

Northeast Community Bancorp has a dividend payout ratio of 24.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Northeast Community Bancorp to earn $3.17 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 25.2%.

Northeast Community Bancorp Stock Performance

Shares of NASDAQ NECB traded up $0.14 during midday trading on Friday, hitting $21.42. 158,586 shares of the company's stock were exchanged, compared to its average volume of 42,565. Northeast Community Bancorp has a twelve month low of $19.75 and a twelve month high of $31.72. The firm has a market cap of $300.52 million, a P/E ratio of 6.39 and a beta of 0.47. The stock's 50 day moving average price is $21.88 and its 200-day moving average price is $22.48. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.25 and a quick ratio of 1.25.

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The savings and loans company reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.03. Northeast Community Bancorp had a return on equity of 14.04% and a net margin of 28.09%.The business had revenue of $25.93 million during the quarter, compared to analyst estimates of $25.96 million. Equities research analysts anticipate that Northeast Community Bancorp will post 3.04 EPS for the current year.

Hedge Funds Weigh In On Northeast Community Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NECB. Millennium Management LLC grew its holdings in Northeast Community Bancorp by 261.8% in the 1st quarter. Millennium Management LLC now owns 162,916 shares of the savings and loans company's stock worth $3,819,000 after buying an additional 117,888 shares in the last quarter. Arkadios Wealth Advisors lifted its position in Northeast Community Bancorp by 714.8% in 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 period. AQR Capital Management LLC acquired a new stake in Northeast Community Bancorp in the first quarter worth approximately $1,779,000. LSV Asset Management lifted its position in Northeast Community Bancorp by 28.4% in the second quarter. LSV Asset Management now owns 296,896 shares of the savings and loans company's stock worth $6,901,000 after purchasing an additional 65,717 shares during the period. Finally, Nuveen LLC acquired a new stake in Northeast Community Bancorp in the first quarter worth approximately $1,182,000. 53.25% of the stock is owned by institutional investors.

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.