Northeast Community Bancorp (NASDAQ:NECB) Posts Earnings Results

Key Points

• Northeast Community Bancorp reported a quarterly earnings per share (EPS) of $0.82, exceeding analyst expectations of $0.79.
• The company declared a quarterly dividend of $0.20 per share, offering an annualized yield of 3.56%, with a payout ratio of 23.88%.
• Northeast Community Bancorp has a market capitalization of $315.52 million, with a price-to-earnings (PE) ratio of 6.72 and trading at $22.50.

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) announced its earnings results on Thursday. 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, Zacks reports. Northeast Community Bancorp had a net margin of 28.09% and a return on equity of 14.24%. The firm had revenue of $25.93 million for the quarter, compared to analyst estimates of $25.96 million.

Northeast Community Bancorp Price Performance

Northeast Community Bancorp stock traded up $0.20 during mid-day trading on Friday, reaching $22.50. 34,282 shares of the company were exchanged, compared to its average volume of 34,882. The firm has a market cap of $315.52 million, a PE ratio of 6.72 and a beta of 0.45. The company has a fifty day simple moving average of $23.11 and a 200-day simple moving average of $23.25. Northeast Community Bancorp has a 12 month low of $19.75 and a 12 month high of $31.72.

Northeast Community Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Monday, July 7th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Monday, July 7th. Northeast Community Bancorp's dividend payout ratio is currently 23.88%.

Institutional Trading of Northeast Community Bancorp

A number of institutional investors have recently modified their holdings of NECB. Millennium Management LLC increased its position in shares of Northeast Community Bancorp by 261.8% in 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. AQR Capital Management LLC acquired a new stake in Northeast Community Bancorp during the first quarter worth about $1,779,000. Empowered Funds LLC increased its holdings in Northeast Community Bancorp by 7.4% in the 1st quarter. Empowered Funds LLC now owns 69,058 shares of the savings and loans company's stock valued at $1,619,000 after buying an additional 4,741 shares during the period. Finally, Jane Street Group LLC increased its holdings in Northeast Community Bancorp by 78.3% in the 1st quarter. Jane Street Group LLC now owns 25,696 shares of the savings and loans company's stock valued at $602,000 after buying an additional 11,286 shares during the period. 53.25% of the stock is currently owned by institutional investors.

About Northeast Community Bancorp

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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