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

Northeast Community Bancorp Inc. (NASDAQ:NECB)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.84 and traded as low as $19.39. Northeast Community Bancorp shares last traded at $19.51, with a volume of 51,355 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NECB. Weiss Ratings lowered shares of Northeast Community Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Zacks Research raised shares of Northeast Community Bancorp from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy”.

Northeast Community Bancorp Price Performance

The firm has a 50-day moving average of $20.34 and a 200-day moving average of $21.84. The stock has a market cap of $273.73 million, a PE ratio of 5.97 and a beta of 0.56. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.27 and a quick ratio of 1.27.

Northeast Community Bancorp (NASDAQ:NECB) last posted its quarterly earnings results on Friday, October 24th. The savings and loans company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.03. Northeast Community Bancorp had a return on equity of 13.43% and a net margin of 27.97%.The business had revenue of $26.61 million during the quarter, compared to the consensus estimate of $26.80 million. Research analysts predict that Northeast Community Bancorp Inc. will post 3.04 EPS for the current year.

Northeast Community Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Friday, October 3rd were given a dividend of $0.20 per share. The ex-dividend date was Friday, October 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.1%. Northeast Community Bancorp’s dividend payout ratio is currently 24.46%.

Insiders Place Their Bets

In related news, CFO Donald S. Hom sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $20.23, for a total transaction of $40,460.00. Following the completion of the transaction, the chief financial officer directly owned 5,759 shares of the company’s stock, valued at approximately $116,504.57. This trade represents a 25.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of 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 valued at $13,812,000 after purchasing an additional 1,695 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Northeast Community Bancorp by 2.6% in the third quarter. Dimensional Fund Advisors LP now owns 418,429 shares of the savings and loans company’s stock worth $8,607,000 after buying an additional 10,458 shares in the last quarter. Geode Capital Management LLC boosted its stake in Northeast Community Bancorp by 4.1% during the second quarter. Geode Capital Management LLC now owns 311,695 shares of the savings and loans company’s stock valued at $7,247,000 after buying an additional 12,204 shares during the last quarter. LSV Asset Management boosted its stake in Northeast Community Bancorp by 28.4% during the second quarter. LSV Asset Management now owns 296,896 shares of the savings and loans company’s stock valued at $6,901,000 after buying an additional 65,717 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Northeast Community Bancorp by 19.3% during the 1st quarter. Acadian Asset Management LLC now owns 282,384 shares of the savings and loans company’s stock valued at $6,618,000 after buying an additional 45,726 shares in the last quarter. Institutional investors own 53.25% of the company’s stock.

Northeast Community Bancorp Company Profile

Northeast Community Bancorp, Inc operates as the holding company for NorthEast Community Bank that provides financial services for individuals and businesses. It accepts various deposit instruments, including checking accounts, money market accounts, regular savings accounts, and non-interest bearing demand accounts, as well as certificates of deposits.