Northeast Community Bancorp (NASDAQ:NECB) Issues Earnings Results

Northeast Community Bancorp (NASDAQ:NECB) posted its earnings results on Thursday. The savings and loans company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.03), Zacks reports. Northeast Community Bancorp had a net margin of 27.21% and a return on equity of 11.55%. The business had revenue of $25.91 million during the quarter, compared to analyst estimates of $27.96 million.

Northeast Community Bancorp Stock Down 3.5%

Shares of NECB traded down $1.01 during midday trading on Friday, hitting $27.77. The stock had a trading volume of 75,714 shares, compared to its average volume of 51,670. The firm has a market cap of $382.39 million, a price-to-earnings ratio of 9.13 and a beta of 0.38. The company has a 50 day simple moving average of $26.96 and a two-hundred day simple moving average of $26.06. Northeast Community Bancorp has a twelve month low of $19.27 and a twelve month high of $29.05. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29.

Northeast Community Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 9th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $1.00 annualized dividend and a dividend yield of 3.6%. Northeast Community Bancorp’s dividend payout ratio (DPR) is currently 32.05%.

Insider Buying and Selling at Northeast Community Bancorp

In related news, CFO Donald S. Hom sold 3,000 shares of the stock in a transaction dated Wednesday, July 29th. The stock was 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 directly owned 4,714 shares in the company, valued at approximately $128,220.80. This trade represents a 38.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.12% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Northeast Community Bancorp in a report on Tuesday, September 29th. Zacks Research raised Northeast Community Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 7th. Finally, Piper Sandler raised their target price on shares of Northeast Community Bancorp from $26.50 to $29.50 and gave the stock a “neutral” rating in a report on Friday, June 26th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Northeast Community Bancorp currently has an average rating of “Buy” and a consensus target price of $29.50.

About Northeast Community Bancorp

Northeast Community Bancorp, Inc is the holding company for Northeast Community Bank, a community-oriented savings bank headquartered in New York. The bank provides retail and commercial banking services to individuals, families, businesses and community organizations through its branch network in New York and New Jersey.

Northeast Community Bank offers deposit products such as checking, savings, money market and certificate of deposit accounts. Its lending activities include residential and multifamily real estate loans, commercial real estate financing, construction loans, home equity products and other loans for businesses and consumers.

The company emphasizes relationship-based banking and focuses on serving local markets, including communities in the New York metropolitan area and surrounding regions.