Northeast Community Bancorp (NASDAQ:NECB) Cut to Hold (C+) at Weiss Ratings

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) was downgraded by equities researchers at Weiss Ratings from a "buy (b-)" rating to a "hold (c+)" rating in a research note issued to investors on Saturday,Weiss Ratings reports.

Separately, Zacks Research raised shares of Northeast Community Bancorp from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat, Northeast Community Bancorp presently has an average rating of "Buy".

Northeast Community Bancorp Trading Up 3.7%

Shares of Northeast Community Bancorp stock opened at $20.97 on Friday. Northeast Community Bancorp has a 12-month low of $19.41 and a 12-month high of $31.72. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.40. The stock has a market cap of $294.21 million, a PE ratio of 6.41 and a beta of 0.53. The company has a 50-day moving average of $21.18 and a two-hundred day moving average of $22.11.

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) last issued its earnings results on Thursday, October 23rd. The savings and loans company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.03. Northeast Community Bancorp had a net margin of 27.97% and a return on equity of 13.60%. The company had revenue of $26.95 million during the quarter, compared to analysts' expectations of $26.80 million. On average, research analysts anticipate that Northeast Community Bancorp will post 3.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Northeast Community Bancorp

Institutional investors have recently bought and sold shares of the stock. CWM LLC grew its holdings in Northeast Community Bancorp by 2,966.1% in the first quarter. CWM LLC now owns 1,717 shares of the savings and loans company's stock valued at $40,000 after purchasing an additional 1,661 shares during the period. BNP Paribas Financial Markets grew its holdings in Northeast Community Bancorp by 46.8% in the second quarter. BNP Paribas Financial Markets now owns 3,459 shares of the savings and loans company's stock valued at $80,000 after purchasing an additional 1,102 shares during the period. Geneos Wealth Management Inc. grew its holdings in Northeast Community Bancorp by 65.4% in the first quarter. Geneos Wealth Management Inc. now owns 5,060 shares of the savings and loans company's stock valued at $119,000 after purchasing an additional 2,000 shares during the period. Brevan Howard Capital Management LP purchased a new stake in Northeast Community Bancorp in the second quarter valued at approximately $231,000. Finally, EP Wealth Advisors LLC purchased a new stake in Northeast Community Bancorp in the first quarter valued at approximately $242,000. 53.25% of the stock is currently 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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