Northeast Community Bancorp (NASDAQ:NECB) Share Price Passes Below 200-Day Moving Average - What's Next?

Key Points

• Northeast Community Bancorp shares fell below their 200-day moving average of $23.24, trading as low as $21.91 before closing at $22.10.
• The company reported $0.82 earnings per share for the latest quarter, exceeding analysts' expectations of $0.79, and had a revenue of $25.93 million.
• Northeast Community Bancorp announced a quarterly dividend of $0.20 per share, with a yield of 3.62% and an ex-dividend date of July 7th.

Northeast Community Bancorp Inc. (NASDAQ:NECB - Get Free Report)'s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.24 and traded as low as $21.91. Northeast Community Bancorp shares last traded at $22.10, with a volume of 41,399 shares traded.

Northeast Community Bancorp Price Performance

The company's 50 day moving average is $22.95 and its 200 day moving average is $23.19. The stock has a market cap of $283.95 million, a price-to-earnings ratio of 5.97 and a beta of 0.45.

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) last released its earnings results on Thursday, July 24th. The savings and loans company reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.03. Northeast Community Bancorp had a net margin of 28.09% and a return on equity of 14.24%. The firm had revenue of $25.93 million during the quarter, compared to the consensus estimate of $25.96 million. Sell-side analysts predict that Northeast Community Bancorp Inc. will post 3.04 earnings per share for the current year.

Northeast Community Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Monday, July 7th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.0%. The ex-dividend date is Monday, July 7th. Northeast Community Bancorp's dividend payout ratio (DPR) is 23.88%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NECB. Dimensional Fund Advisors LP raised its stake in Northeast Community Bancorp by 20.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 338,918 shares of the savings and loans company's stock valued at $8,290,000 after acquiring an additional 56,607 shares during the period. Acadian Asset Management LLC increased its stake in Northeast Community Bancorp by 19.3% in the 1st quarter. Acadian Asset Management LLC now owns 282,384 shares of the savings and loans company's stock worth $6,618,000 after acquiring an additional 45,726 shares during the last quarter. LSV Asset Management boosted its holdings in Northeast Community Bancorp by 9.2% during the 4th quarter. LSV Asset Management now owns 182,273 shares of the savings and loans company's stock valued at $4,458,000 after acquiring an additional 15,420 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Northeast Community Bancorp by 2.9% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 170,860 shares of the savings and loans company's stock worth $4,005,000 after acquiring an additional 4,747 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Northeast Community Bancorp by 261.8% in the 1st quarter. Millennium Management LLC now owns 162,916 shares of the savings and loans company's stock worth $3,819,000 after purchasing an additional 117,888 shares in the last quarter. 53.25% of the stock is 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.