Northeast Community Bancorp (NASDAQ:NECB) Releases Earnings Results, Beats Expectations By $998.21 EPS

Key Points

• Huge earnings beat: Northeast Community Bancorp reported EPS of $999.00 for the quarter versus a consensus $0.79, beating estimates by $998.21; the company posted a 13.07% return on equity and a 28.07% net margin.
• Stock and valuation: Shares traded down to $24.28 despite the report, with a market cap of $335.36 million, a trailing P/E of 7.45, and trading volume below its average.
• Dividend announced: The company declared a $0.20 quarterly dividend ($0.80 annualized) for a 3.3% yield, with an ex-dividend date of April 6 and payment on May 5.

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) posted its earnings results on Wednesday. The savings and loans company reported $999.00 EPS for the quarter, beating the consensus estimate of $0.79 by $998.21, reports. Northeast Community Bancorp had a return on equity of 13.07% and a net margin of 28.07%.

Northeast Community Bancorp Stock Performance

NASDAQ NECB traded down $0.69 during trading hours on Wednesday, hitting $24.28. The company had a trading volume of 15,087 shares, compared to its average volume of 44,519. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.19 and a current ratio of 1.19. Northeast Community Bancorp has a 1-year low of $19.27 and a 1-year high of $25.65. The company has a market cap of $335.36 million, a PE ratio of 7.45 and a beta of 0.39. The business has a 50 day moving average of $24.07 and a 200-day moving average of $22.79.

Northeast Community Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 5th. Investors of record on Monday, April 6th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, April 6th. Northeast Community Bancorp's dividend payout ratio is 24.54%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on NECB shares. Freedom Capital raised Northeast Community Bancorp to a "strong-buy" rating in a report on Tuesday, March 31st. Weiss Ratings raised Northeast Community Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Northeast Community Bancorp has a consensus rating of "Buy".

Hedge Funds Weigh In On Northeast Community Bancorp

Several large investors have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. boosted its stake in shares of Northeast Community Bancorp by 3.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 20,582 shares of the savings and loans company's stock worth $423,000 after buying an additional 650 shares during the period. Man Group plc boosted its stake in shares of Northeast Community Bancorp by 4.0% during the third quarter. Man Group plc now owns 19,838 shares of the savings and loans company's stock worth $408,000 after buying an additional 767 shares during the period. IFP Advisors Inc boosted its stake in shares of Northeast Community Bancorp by 78.4% during the third quarter. IFP Advisors Inc now owns 1,821 shares of the savings and loans company's stock worth $38,000 after buying an additional 800 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Northeast Community Bancorp by 1.1% during the third quarter. Ameriprise Financial Inc. now owns 84,108 shares of the savings and loans company's stock worth $1,730,000 after buying an additional 935 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Northeast Community Bancorp by 193.8% during the third quarter. Russell Investments Group Ltd. now owns 1,457 shares of the savings and loans company's stock worth $30,000 after buying an additional 961 shares during the period. Institutional investors and hedge funds own 53.25% of the company's stock.

About Northeast Community Bancorp

Northeast Community Bancorp is the bank holding company for Northeast Bank, a full-service community bank headquartered in DeKalb, Illinois. Through its principal subsidiary, the company provides a range of deposit and lending products designed to meet the financial needs of individuals, families and small to mid-sized businesses in the northern Illinois market.

The company’s loan portfolio encompasses consumer and mortgage lending, home equity lines of credit, commercial real estate financing, SBA-guaranteed loans and agricultural credits.

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