Northeast Community Bancorp (NASDAQ:NECB) Share Price Crosses Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• NECB shares briefly fell below their 200-day moving average of $25.64, reaching $25.63 before last trading at $26.34. Analysts maintain a “Moderate Buy” consensus with a $29.50 target price.
• The company reported quarterly EPS of $0.72, missing the $0.76 estimate, while revenue of $25.29 million also fell short of expectations. Analysts project full-year EPS of $3.16.
• Northeast Community Bancorp declared a quarterly dividend of $0.25 per share, representing a $1.00 annualized payout and a 3.8% yield; its CFO also sold 3,000 shares, reducing his holdings by 38.89%.

Northeast Community Bancorp Inc. (NASDAQ:NECB - Get Free Report) shares passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $25.64 and traded as low as $25.63. Northeast Community Bancorp shares last traded at $26.34, with a volume of 47,082 shares traded.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Piper Sandler lifted their price objective on shares of Northeast Community Bancorp from $26.50 to $29.50 and gave the stock a "neutral" rating in a research note on Friday, June 26th. Weiss Ratings restated a "buy (b)" rating on shares of Northeast Community Bancorp in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $29.50.

Northeast Community Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $362.70 million, a PE ratio of 8.44 and a beta of 0.38. The firm has a fifty day moving average price of $26.75 and a two-hundred day moving average price of $25.64.

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The savings and loans company reported $0.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.04). Northeast Community Bancorp had a net margin of 27.67% and a return on equity of 12.00%. The business had revenue of $25.29 million for the quarter, compared to analysts' expectations of $25.76 million. Research analysts expect that Northeast Community Bancorp Inc. will post 3.16 EPS for the current year.

Northeast Community Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 9th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, October 9th. This represents a $1.00 dividend on an annualized basis and a yield of 3.8%. Northeast Community Bancorp's dividend payout ratio (DPR) is presently 32.05%.

Insider Transactions at Northeast Community Bancorp

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

Institutional Trading of Northeast Community Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the stock. Benjamin Edwards Inc. purchased a new stake in shares of Northeast Community Bancorp in the second quarter valued at approximately $486,000. Empowered Funds LLC purchased a new position in Northeast Community Bancorp during the 2nd quarter worth $2,690,000. Public Employees Retirement System of Ohio purchased a new position in Northeast Community Bancorp during the 2nd quarter worth $149,000. Raffles Associates LP bought a new stake in Northeast Community Bancorp during the 2nd quarter valued at $1,651,000. Finally, Bank of America Corp DE purchased a new stake in shares of Northeast Community Bancorp in the 2nd quarter worth $630,000. Institutional investors own 53.25% of the company's stock.

Northeast Community Bancorp Company Profile

Northeast Community Bancorp, Inc is the holding company for NorthEast Community Bank, a community-focused financial institution headquartered in White Plains, New York. The bank traces its roots to 1934 and provides banking services to individuals, families, businesses and nonprofit organizations in the communities it serves.

NorthEast Community Bank offers deposit products such as checking and savings accounts, money market accounts and certificates of deposit. Its lending activities include residential and commercial real estate loans, multifamily and construction financing, home equity loans and other consumer and business credit products.

The company operates through a branch network serving customers in parts of New York and neighboring New England markets.

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