Northeast Community Bancorp Inc. (NASDAQ:NECB - Get Free Report) announced a quarterly dividend on Thursday, June 19th, RTT News reports. Investors of record on Monday, July 7th will be given a dividend of 0.20 per share by the savings and loans company on Wednesday, August 6th. This represents a $0.80 annualized dividend and a yield of 3.54%. The ex-dividend date is Monday, July 7th.
Northeast Community Bancorp has a dividend payout ratio of 24.5% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance
NECB traded up $0.13 during trading on Friday, hitting $22.60. The company had a trading volume of 44,868 shares, compared to its average volume of 58,465. The company has a market cap of $316.85 million, a PE ratio of 6.46 and a beta of 0.45. The business has a 50-day moving average of $22.72 and a 200-day moving average of $23.61. Northeast Community Bancorp has a 1-year low of $16.94 and a 1-year high of $31.72.
Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) last posted 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 firm had revenue of $25.26 million for the quarter, compared to analysts' expectations of $25.49 million. Northeast Community Bancorp had a net margin of 28.73% and a return on equity of 14.97%. Research analysts forecast that Northeast Community Bancorp will post 3.04 earnings per share for the current year.
Institutional Trading of Northeast Community Bancorp
A number of institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC raised its holdings in shares of Northeast Community Bancorp by 78.3% during the first quarter. Jane Street Group LLC now owns 25,696 shares of the savings and loans company's stock worth $602,000 after purchasing an additional 11,286 shares during the period. Empowered Funds LLC raised its holdings in shares of Northeast Community Bancorp by 7.4% during the first quarter. Empowered Funds LLC now owns 69,058 shares of the savings and loans company's stock worth $1,619,000 after purchasing an additional 4,741 shares during the period. Millennium Management LLC raised its holdings in shares of Northeast Community Bancorp by 261.8% during the first quarter. Millennium Management LLC now owns 162,916 shares of the savings and loans company's stock worth $3,819,000 after purchasing an additional 117,888 shares during the period. Finally, AQR Capital Management LLC acquired a new stake in shares of Northeast Community Bancorp during the first quarter worth $1,779,000. 53.25% of the stock is owned by institutional investors and hedge funds.
About Northeast Community Bancorp
(
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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.
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