Northeast Community Bancorp (NASDAQ:NECB) Announces Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) posted its quarterly earnings results on Wednesday. The savings and loans company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.01), Zacks reports. Northeast Community Bancorp had a return on equity of 12.73% and a net margin of 28.16%.The company had revenue of $24.93 million for the quarter, compared to the consensus estimate of $26.42 million.

Northeast Community Bancorp Trading Up 0.6%

NECB opened at $24.15 on Friday. The business has a 50 day simple moving average of $24.08 and a two-hundred day simple moving average of $22.81. The firm has a market capitalization of $333.51 million, a price-to-earnings ratio of 7.50 and a beta of 0.37. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.19 and a quick ratio of 1.19. Northeast Community Bancorp has a one year low of $19.27 and a one year high of $25.65.

Northeast Community Bancorp Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on NECB shares. Weiss Ratings upgraded shares of Northeast Community Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, February 6th. Freedom Capital upgraded shares of Northeast Community Bancorp to a "strong-buy" rating in a report on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy".

Institutional Investors Weigh In On Northeast Community Bancorp

A number of large investors have recently modified their holdings of NECB. State of Tennessee Department of Treasury raised its stake in Northeast Community Bancorp by 182.5% in the fourth quarter. State of Tennessee Department of Treasury now owns 23,619 shares of the savings and loans company's stock worth $557,000 after buying an additional 15,257 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in Northeast Community Bancorp during the 4th quarter valued at approximately $239,000. Mackenzie Financial Corp bought a new stake in Northeast Community Bancorp during the 4th quarter valued at approximately $710,000. Empowered Funds LLC grew its holdings in shares of Northeast Community Bancorp by 10.7% during the 4th quarter. Empowered Funds LLC now owns 79,197 shares of the savings and loans company's stock worth $1,791,000 after acquiring an additional 7,686 shares during the period. Finally, Man Group plc grew its holdings in shares of Northeast Community Bancorp by 5.6% during the 4th quarter. Man Group plc now owns 20,957 shares of the savings and loans company's stock worth $474,000 after acquiring an additional 1,119 shares during the period. Institutional investors 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.