Northeast Community Bancorp (NASDAQ:NECB) Shares Cross Above 200-Day Moving Average - Here's Why

Key Points

• Northeast Community Bancorp (NASDAQ:NECB) shares moved above their 200-day moving average, trading as high as $24.73 and last changing hands at $24.46.
• The company recently reported Q1 earnings of $0.74 per share, narrowly missing estimates, while revenue of $24.93 million also came in below expectations. Analysts still expect 3.25 EPS for the full year.
• NECB announced a quarterly dividend of $0.20 per share, equal to an annualized yield of about 3.3%, and the stock currently carries an average analyst rating of Buy.

Northeast Community Bancorp Inc. (NASDAQ:NECB - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $22.93 and traded as high as $24.73. Northeast Community Bancorp shares last traded at $24.46, with a volume of 19,289 shares traded.

Analyst Upgrades and Downgrades

NECB has been the subject of a number of research reports. Freedom Capital upgraded shares of Northeast Community Bancorp to a "strong-buy" rating in a research note on Tuesday, March 31st. Weiss Ratings upgraded Northeast Community Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy".

Northeast Community Bancorp Stock Down 0.2%

The business's fifty day moving average price is $24.13 and its 200 day moving average price is $22.93. The firm has a market capitalization of $337.79 million, a price-to-earnings ratio of 7.60 and a beta of 0.37. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.20.

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The savings and loans company reported $0.74 earnings per share for the quarter, missing analysts' consensus estimates of $0.75 by ($0.01). Northeast Community Bancorp had a return on equity of 12.73% and a net margin of 28.16%.The business had revenue of $24.93 million for the quarter, compared to analyst estimates of $26.42 million. On average, equities analysts expect that Northeast Community Bancorp Inc. will post 3.25 EPS for the current year.

Northeast Community Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Monday, April 6th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, April 6th. This represents a $0.80 annualized dividend and a dividend yield of 3.3%. Northeast Community Bancorp's dividend payout ratio is 24.84%.

Hedge Funds Weigh In On Northeast Community Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Northeast Community Bancorp by 5.8% during the first quarter. Dimensional Fund Advisors LP now owns 466,870 shares of the savings and loans company's stock worth $11,112,000 after purchasing an additional 25,687 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Northeast Community Bancorp by 12.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 21,901 shares of the savings and loans company's stock valued at $530,000 after buying an additional 2,338 shares during the period. Hsbc Holdings PLC raised its position in Northeast Community Bancorp by 11.0% during the 4th quarter. Hsbc Holdings PLC now owns 21,495 shares of the savings and loans company's stock worth $487,000 after buying an additional 2,138 shares during the last quarter. Mangrove Partners IM LLC lifted its stake in shares of Northeast Community Bancorp by 1.3% in the 4th quarter. Mangrove Partners IM LLC now owns 101,303 shares of the savings and loans company's stock worth $2,290,000 after acquiring an additional 1,349 shares during the period. Finally, Harbour Investments Inc. lifted its stake in shares of Northeast Community Bancorp by 109.9% in the 4th quarter. Harbour Investments Inc. now owns 1,522 shares of the savings and loans company's stock worth $34,000 after acquiring an additional 797 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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