Northeast Community Bancorp (NASDAQ:NECB) Receives "Buy (B-)" Rating from Weiss Ratings

Key Points

• Northeast Community Bancorp's stock has received a "Buy (B-)" rating from Weiss Ratings, reaffirming positive analyst sentiment.
• Zacks Research upgraded the company from a "hold" rating to a "strong-buy" rating, contributing to a consensus rating of "Strong Buy".
• The company reported earnings of $0.82 per share for the last quarter, exceeding analysts' expectations and showing strong financial performance.

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by investment analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Separately, Zacks Research upgraded Northeast Community Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Strong Buy".

Northeast Community Bancorp Trading Down 1.4%

Shares of NECB stock opened at $20.50 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market capitalization of $287.62 million, a PE ratio of 6.12 and a beta of 0.53. The stock has a fifty day moving average of $21.32 and a two-hundred day moving average of $22.30. Northeast Community Bancorp has a 1 year low of $19.75 and a 1 year high of $31.72.

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) last announced its earnings results on Thursday, July 24th. 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. 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%. As a group, research analysts expect that Northeast Community Bancorp will post 3.04 EPS for the current year.

Institutional Trading of Northeast Community Bancorp

Institutional investors have recently modified their holdings of the company. Thrivent Financial for Lutherans acquired a new position in Northeast Community Bancorp during the second quarter worth approximately $542,000. BNP Paribas Financial Markets raised its position in Northeast Community Bancorp by 46.8% during the second quarter. BNP Paribas Financial Markets now owns 3,459 shares of the savings and loans company's stock valued at $80,000 after purchasing an additional 1,102 shares in the last quarter. Bridgeway Capital Management LLC raised its position in Northeast Community Bancorp by 5.4% during the second quarter. Bridgeway Capital Management LLC now owns 128,849 shares of the savings and loans company's stock valued at $2,995,000 after purchasing an additional 6,652 shares in the last quarter. Brevan Howard Capital Management LP acquired a new position in Northeast Community Bancorp during the second quarter valued at approximately $231,000. Finally, Black Maple Capital Management LP increased its holdings in shares of Northeast Community Bancorp by 11.1% during the second quarter. Black Maple Capital Management LP now owns 65,747 shares of the savings and loans company's stock worth $1,528,000 after buying an additional 6,565 shares in the last quarter. 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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