Northeast Community Bancorp (NASDAQ:NECB) Stock Passes Above 200 Day Moving Average – Here’s Why

Northeast Community Bancorp, Inc. (NASDAQ:NECB)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $24.60 and traded as high as $25.54. Northeast Community Bancorp shares last traded at $25.09, with a volume of 49,740 shares changing hands.

Northeast Community Bancorp Price Performance

The stock has a fifty day moving average of $27.04 and a 200-day moving average of $24.60. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $351.79 million, a P/E ratio of 6.97 and a beta of 0.67.

Northeast Community Bancorp (NASDAQ:NECB) last announced its earnings results on Monday, October 28th. The savings and loans company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. Northeast Community Bancorp had a net margin of 30.47% and a return on equity of 16.63%. The company had revenue of $42.53 million for the quarter, compared to analyst estimates of $26.53 million. Equities analysts predict that Northeast Community Bancorp, Inc. will post 3.57 EPS for the current fiscal year.

Northeast Community Bancorp Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Friday, January 3rd. Northeast Community Bancorp’s dividend payout ratio (DPR) is presently 16.67%.

Insider Activity at Northeast Community Bancorp

In other news, Director Diane B. Cavanaugh sold 2,000 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $28.45, for a total value of $56,900.00. Following the completion of the sale, the director now directly owns 4,712 shares of the company’s stock, valued at $134,056.40. This represents a 29.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John F. Mckenzie sold 1,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $28.90, for a total transaction of $28,900.00. Following the completion of the sale, the director now owns 11,792 shares of the company’s stock, valued at approximately $340,788.80. This represents a 7.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,200 shares of company stock worth $209,766 over the last 90 days. Insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On Northeast Community Bancorp

A number of hedge funds have recently modified their holdings of the business. Barclays PLC boosted its stake in Northeast Community Bancorp by 290.9% in the 3rd quarter. Barclays PLC now owns 17,875 shares of the savings and loans company’s stock worth $473,000 after purchasing an additional 13,302 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Northeast Community Bancorp by 50.6% in the third quarter. Franklin Resources Inc. now owns 23,156 shares of the savings and loans company’s stock valued at $630,000 after purchasing an additional 7,785 shares in the last quarter. State Street Corp boosted its position in shares of Northeast Community Bancorp by 10.4% during the third quarter. State Street Corp now owns 233,424 shares of the savings and loans company’s stock worth $6,174,000 after buying an additional 21,973 shares during the period. Kovitz Investment Group Partners LLC bought a new position in shares of Northeast Community Bancorp during the third quarter worth about $2,235,000. Finally, Inspire Investing LLC acquired a new stake in Northeast Community Bancorp in the 3rd quarter valued at approximately $2,132,000. Institutional investors and hedge funds 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.