Northeast Community Bancorp (NASDAQ:NECB) Shares Cross Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• NECB shares rose above their 200-day moving average, reaching $27.44 and closing near $27.18, compared with the average of $24.81. Analysts maintain a “Moderate Buy” consensus with an average price target of $29.50.
• The company’s latest quarterly results fell short of expectations, reporting $0.72 in EPS versus the $0.76 consensus and revenue of $25.29 million versus $25.76 million expected.
• Northeast Community Bancorp increased its quarterly dividend from $0.20 to $0.25 per share, implying a 3.7% annual yield. Institutional ownership stands at 53.25%, while the CFO recently sold 3,000 shares.

Northeast Community Bancorp Inc. (NASDAQ:NECB - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $24.81 and traded as high as $27.44. Northeast Community Bancorp shares last traded at $27.18, with a volume of 40,847 shares.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Weiss Ratings restated a "buy (b)" rating on shares of Northeast Community Bancorp in a research report on Thursday, July 2nd. Piper Sandler upped their target price on Northeast Community Bancorp from $26.50 to $29.50 and gave the company a "neutral" rating in a report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Northeast Community Bancorp currently has an average rating of "Moderate Buy" and an average target price of $29.50.

Northeast Community Bancorp Trading Up 0.6%

The stock has a market cap of $375.49 million, a PE ratio of 8.71 and a beta of 0.36. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.17 and a current ratio of 1.17. The company's 50-day moving average price is $26.28 and its 200 day moving average price is $24.81.

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) last issued its quarterly earnings data on Friday, July 24th. The savings and loans company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.04). Northeast Community Bancorp had a return on equity of 12.10% and a net margin of 27.67%.The business had revenue of $25.29 million during the quarter, compared to analysts' expectations of $25.76 million. On average, sell-side analysts forecast that Northeast Community Bancorp Inc. will post 3.16 EPS for the current fiscal year.

Northeast Community Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Tuesday, July 7th will be issued a $0.25 dividend. This is an increase from Northeast Community Bancorp's previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, July 7th. This represents a $1.00 annualized dividend and a yield of 3.7%. Northeast Community Bancorp's payout ratio is presently 32.05%.

Insider Buying and Selling

In other Northeast Community Bancorp news, CFO Donald S. Hom sold 3,000 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $27.20, for a total transaction of $81,600.00. Following the completion of the transaction, the chief financial officer owned 4,714 shares of the company's stock, valued at $128,220.80. This trade represents a 38.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 7.12% of the stock is owned by insiders.

Institutional Investors Weigh In On Northeast Community Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC lifted its stake in Northeast Community Bancorp by 261.8% during the first 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. Focus Partners Wealth acquired a new stake in shares of Northeast Community Bancorp in the fourth quarter valued at $1,857,000. AQR Capital Management LLC acquired a new stake in shares of Northeast Community Bancorp in the first quarter valued at $1,779,000. Two Sigma Investments LP purchased a new stake in shares of Northeast Community Bancorp in the 3rd quarter valued at $870,000. Finally, Militia Capital Management LLC purchased a new stake in shares of Northeast Community Bancorp in the 1st quarter valued at $810,000. 53.25% of the stock is owned by hedge funds and other institutional investors.

Northeast Community Bancorp Company Profile

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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