Northeast Community Bancorp (NASDAQ:NECB) Issues Earnings Results, Misses Expectations By $0.04 EPS

Key Points

• Northeast Community Bancorp reported quarterly EPS of $0.72, coming in $0.04 below analysts’ consensus estimate of $0.76.
• The company also raised its quarterly dividend to $0.25 per share from $0.20, implying a 3.8% annualized yield.
• Analyst sentiment remains mixed but generally positive, with a Moderate Buy consensus and a price target of $29.50.

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) posted its quarterly earnings data on Friday. The savings and loans company reported $0.72 earnings per share for the quarter, missing analysts' consensus estimates of $0.76 by ($0.04), Zacks reports. Northeast Community Bancorp had a net margin of 28.16% and a return on equity of 12.62%.

Northeast Community Bancorp Stock Performance

Shares of NASDAQ:NECB traded up $0.20 during trading on Friday, hitting $26.66. 24,216 shares of the company traded hands, compared to its average volume of 43,652. The stock has a market capitalization of $368.11 million, a price-to-earnings ratio of 8.28 and a beta of 0.35. The business's fifty day moving average is $25.73 and its 200-day moving average is $24.55. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.06. Northeast Community Bancorp has a one year low of $19.27 and a one year high of $28.94.

Northeast Community Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 6th. Stockholders of record on Tuesday, July 7th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.8%. This is a boost from Northeast Community Bancorp's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, July 7th. Northeast Community Bancorp's dividend payout ratio is currently 31.06%.

Institutional Investors Weigh In On Northeast Community Bancorp

A number of hedge funds have recently made changes to their positions in NECB. Larson Financial Group LLC acquired a new position in Northeast Community Bancorp in the third quarter worth approximately $28,000. Russell Investments Group Ltd. boosted its holdings in shares of 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 purchasing an additional 961 shares during the period. IFP Advisors Inc grew its holdings in shares of Northeast Community Bancorp by 78.4% during the 3rd quarter. IFP Advisors Inc now owns 1,821 shares of the savings and loans company's stock valued at $38,000 after acquiring an additional 800 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Northeast Community Bancorp by 4,381.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,316 shares of the savings and loans company's stock valued at $75,000 after purchasing an additional 3,242 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Northeast Community Bancorp by 46.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,459 shares of the savings and loans company's stock valued at $80,000 after buying an additional 1,102 shares in the last quarter. Institutional investors own 53.25% of the company's stock.

Analyst Upgrades and Downgrades

NECB has been the topic of a number of research analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Northeast Community Bancorp in a research note on Thursday, July 2nd. Piper Sandler upped their target price on Northeast Community Bancorp from $26.50 to $29.50 and gave the stock a "neutral" rating in a research report on Friday, June 26th. Finally, Freedom Capital raised shares of Northeast Community Bancorp to a "strong-buy" rating in a research note on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Northeast Community Bancorp has an average rating of "Moderate Buy" and a consensus price target of $29.50.

About Northeast Community Bancorp

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.