Northeast Community Bancorp (NASDAQ:NECB) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Northeast Community Bancorp has been upgraded by Zacks Research from a "hold" to a "strong-buy" rating, indicating increased confidence in the company's future performance.
• The company reported earnings of $0.82 EPS for the last quarter, surpassing analyst expectations of $0.79, with a revenue of $25.93 million.
• Institutional investors now own 53.25% of Northeast Community Bancorp's stock, reflecting growing interest from hedge funds and major investors in the company.

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Wednesday,Zacks.com reports.

Northeast Community Bancorp Price Performance

Shares of NECB stock opened at $20.13 on Wednesday. The stock's fifty day simple moving average is $21.43 and its 200 day simple moving average is $22.37. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market cap of $282.42 million, a price-to-earnings ratio of 6.01 and a beta of 0.53. Northeast Community Bancorp has a one year low of $19.75 and a one year high of $31.72.

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The savings and loans company reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.03. The company had revenue of $25.93 million for the quarter, compared to analyst estimates of $25.96 million. Northeast Community Bancorp had a return on equity of 14.04% and a net margin of 28.09%. On average, analysts expect that Northeast Community Bancorp will post 3.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Northeast Community Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. Strs Ohio acquired a new position in Northeast Community Bancorp in the first quarter worth $502,000. GAMMA Investing LLC boosted its stake in Northeast Community Bancorp by 2,801.8% in the first quarter. GAMMA Investing LLC now owns 6,587 shares of the savings and loans company's stock worth $154,000 after purchasing an additional 6,360 shares in the last quarter. Nuveen LLC acquired a new position in Northeast Community Bancorp in the first quarter worth $1,182,000. Arkadios Wealth Advisors boosted its stake in Northeast Community Bancorp by 714.8% in the first quarter. Arkadios Wealth Advisors now owns 88,171 shares of the savings and loans company's stock worth $2,067,000 after purchasing an additional 77,350 shares in the last quarter. Finally, Benjamin Edwards Inc. bought a new stake in shares of Northeast Community Bancorp during the first quarter worth $384,000. Institutional investors and hedge funds 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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