Northeast Community Bancorp (NASDAQ:NECB) Issues Quarterly 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) released its quarterly earnings data on Thursday. The savings and loans company reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.03, Zacks reports. The business had revenue of $25.93 million for the quarter, compared to analysts' expectations of $25.96 million. Northeast Community Bancorp had a return on equity of 14.24% and a net margin of 28.09%.

Northeast Community Bancorp Trading Down 1.9%

NASDAQ NECB traded down $0.40 on Wednesday, reaching $21.15. The company's stock had a trading volume of 44,583 shares, compared to its average volume of 45,649. Northeast Community Bancorp has a 52 week low of $19.75 and a 52 week high of $31.72. The firm has a market cap of $296.52 million, a PE ratio of 6.31 and a beta of 0.45. The business has a 50-day moving average price of $23.04 and a 200 day moving average price of $23.22.

Northeast Community Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Monday, July 7th will be paid a $0.20 dividend. The ex-dividend date is Monday, July 7th. This represents a $0.80 dividend on an annualized basis and a yield of 3.78%. Northeast Community Bancorp's payout ratio is currently 23.88%.

Institutional Investors Weigh In On Northeast Community Bancorp

Several large investors have recently modified their holdings of NECB. Jane Street Group LLC grew its position in Northeast Community Bancorp by 78.3% during the 1st quarter. Jane Street Group LLC now owns 25,696 shares of the savings and loans company's stock worth $602,000 after acquiring an additional 11,286 shares during the last quarter. Empowered Funds LLC boosted its stake in 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 acquiring an additional 4,741 shares during the last quarter. AQR Capital Management LLC bought a new position in Northeast Community Bancorp during the first quarter worth about $1,779,000. Finally, Millennium Management LLC boosted its position 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 in the last quarter. 53.25% of the stock is currently owned by 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.