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

Northeast Community Bancorp Inc. (NASDAQ:NECB - Get Free Report) declared 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 dividend on an annualized basis and a yield of 3.56%.

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 Up 3.0%

NASDAQ:NECB traded up $0.65 during trading hours on Thursday, reaching $22.47. 39,460 shares of the company's stock were exchanged, compared to its average volume of 58,383. The company has a market capitalization of $315.03 million, a P/E ratio of 6.42 and a beta of 0.45. Northeast Community Bancorp has a 12 month low of $16.69 and a 12 month high of $31.72. The business's 50-day simple moving average is $22.69 and its two-hundred day simple moving average is $23.72.

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The savings and loans company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.01. Northeast Community Bancorp had a return on equity of 14.97% and a net margin of 28.73%. The business had revenue of $25.26 million during the quarter, compared to analyst estimates of $25.49 million. As a group, sell-side analysts anticipate that Northeast Community Bancorp will post 3.04 earnings per share for the current fiscal year.

Institutional Trading of Northeast Community Bancorp

A number of hedge funds have recently bought and sold shares of the company. 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 valued at $602,000 after acquiring an additional 11,286 shares during the period. Empowered Funds LLC lifted its holdings in shares of Northeast Community Bancorp by 7.4% in the first quarter. Empowered Funds LLC now owns 69,058 shares of the savings and loans company's stock valued at $1,619,000 after purchasing an additional 4,741 shares in the last quarter. AQR Capital Management LLC acquired a new stake in Northeast Community Bancorp during the 1st quarter worth about $1,779,000. Finally, Millennium Management LLC increased its stake 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 valued at $3,819,000 after buying an additional 117,888 shares during the period. 53.25% of the stock is owned by hedge funds and other 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.

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