Northeast Community Bancorp (NASDAQ:NECB) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Key Points

• Northeast Community Bancorp reported a quarterly earnings per share (EPS) of $0.87, exceeding the consensus estimate of $0.81 by $0.06.
• The company announced a quarterly dividend of $0.20 per share, with an annualized yield of 3.9%, payable on November 7th.
• Analysts upgraded Northeast Community Bancorp's stock to a "strong-buy" rating, reflecting positive sentiment towards the company's performance.

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) released its quarterly earnings data on Thursday. The savings and loans company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.81 by $0.06, Zacks reports. Northeast Community Bancorp had a net margin of 28.09% and a return on equity of 14.04%.

Northeast Community Bancorp Trading Down 1.0%

Shares of NASDAQ:NECB traded down $0.22 during midday trading on Thursday, reaching $20.27. The company's stock had a trading volume of 30,690 shares, compared to its average volume of 47,258. The firm has a market cap of $284.32 million, a price-to-earnings ratio of 6.05 and a beta of 0.53. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.40. Northeast Community Bancorp has a 1 year low of $19.41 and a 1 year high of $31.72. The business has a 50 day moving average price of $21.22 and a 200 day moving average price of $22.11.

Northeast Community Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, October 3rd. This represents a $0.80 annualized dividend and a dividend yield of 3.9%. Northeast Community Bancorp's dividend payout ratio (DPR) is 23.88%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Zacks Research upgraded shares of Northeast Community Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 1st. Weiss Ratings reissued a "buy (b-)" rating on shares of Northeast Community Bancorp in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat, Northeast Community Bancorp currently has an average rating of "Strong Buy".

Institutional Trading of Northeast Community Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NECB. Millennium Management LLC lifted its holdings in shares of Northeast Community Bancorp by 261.8% during the 1st quarter. Millennium Management LLC now owns 162,916 shares of the savings and loans company's stock worth $3,819,000 after acquiring an additional 117,888 shares during the period. AQR Capital Management LLC acquired a new position in Northeast Community Bancorp during the first quarter worth approximately $1,779,000. Gamco Investors INC. ET AL purchased a new position in Northeast Community Bancorp during the second quarter worth approximately $790,000. Thrivent Financial for Lutherans purchased a new position in Northeast Community Bancorp during the second quarter worth approximately $542,000. Finally, Jane Street Group LLC boosted its holdings in shares of 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 purchasing an additional 11,286 shares during the last quarter. Hedge funds and other institutional investors own 53.25% of the company's stock.

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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