Northeast Community Bancorp Inc. (NASDAQ:NECB) Short Interest Down 14.4% in April

Northeast Community Bancorp Inc. (NASDAQ:NECB) saw a significant decline in short interest in April. As of April 15th, there was short interest totaling 87,148 shares, a decline of 14.4% from the March 31st total of 101,820 shares. Based on an average daily trading volume, of 38,603 shares, the short-interest ratio is currently 2.3 days. Currently, 0.7% of the shares of the company are short sold.

Hedge Funds Weigh In On Northeast Community Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Northeast Community Bancorp by 0.3% during the third quarter. Vanguard Group Inc. now owns 671,486 shares of the savings and loans company’s stock worth $13,812,000 after acquiring an additional 1,695 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Northeast Community Bancorp by 5.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 441,183 shares of the savings and loans company’s stock worth $9,975,000 after acquiring an additional 22,754 shares during the last quarter. Geode Capital Management LLC boosted its position in Northeast Community Bancorp by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 395,299 shares of the savings and loans company’s stock worth $8,939,000 after acquiring an additional 12,250 shares during the last quarter. Millennium Management LLC boosted its position 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 acquiring an additional 117,888 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its position in Northeast Community Bancorp by 6.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 132,336 shares of the savings and loans company’s stock worth $2,992,000 after acquiring an additional 7,686 shares during the last quarter. 53.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Northeast Community Bancorp Price Performance

Shares of NASDAQ NECB traded up $0.15 during trading on Friday, hitting $24.15. The company had a trading volume of 22,145 shares, compared to its average volume of 44,254. The stock has a fifty day simple moving average of $24.08 and a two-hundred day simple moving average of $22.81. Northeast Community Bancorp has a fifty-two week low of $19.27 and a fifty-two week high of $25.65. The firm has a market capitalization of $333.51 million, a price-to-earnings ratio of 7.50 and a beta of 0.39. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.20.

Northeast Community Bancorp (NASDAQ:NECB) last announced its earnings results on Monday, May 4th. The savings and loans company reported $999.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $998.25. Northeast Community Bancorp had a net margin of 28.16% and a return on equity of 12.73%. The business had revenue of $24.93 million for the quarter, compared to analyst estimates of $26.42 million. On average, research analysts expect that Northeast Community Bancorp will post 3.25 earnings per share for the current year.

Northeast Community Bancorp Dividend Announcement

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 given a dividend of $0.20 per share. The ex-dividend date is Monday, April 6th. This represents a $0.80 dividend on an annualized basis and a yield of 3.3%. Northeast Community Bancorp’s payout ratio is presently 24.54%.

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.