Sanctuary Advisors LLC Takes Position in Northeast Community Bancorp Inc. $NECB

Sanctuary Advisors LLC purchased a new position in shares of Northeast Community Bancorp Inc. (NASDAQ:NECB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 32,151 shares of the savings and loans company’s stock, valued at approximately $892,000.

Other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC acquired a new stake in Northeast Community Bancorp in the 1st quarter valued at about $1,779,000. Millennium Management LLC lifted its stake in Northeast Community Bancorp by 261.8% in the 1st quarter. Millennium Management LLC now owns 162,916 shares of the savings and loans company’s stock worth $3,819,000 after purchasing an additional 117,888 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Northeast Community Bancorp by 7.4% during the 1st quarter. Empowered Funds LLC now owns 69,058 shares of the savings and loans company’s stock worth $1,619,000 after purchasing an additional 4,741 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Northeast Community Bancorp by 78.3% during the 1st quarter. Jane Street Group LLC now owns 25,696 shares of the savings and loans company’s stock worth $602,000 after purchasing an additional 11,286 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Northeast Community Bancorp by 4.6% in the second quarter. First Trust Advisors LP now owns 58,616 shares of the savings and loans company’s stock valued at $1,363,000 after purchasing an additional 2,602 shares in the last quarter. 53.25% of the stock is currently owned by institutional investors and hedge funds.

Northeast Community Bancorp Stock Up 0.2%

Shares of NASDAQ NECB opened at $26.43 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average is $26.79 and its two-hundred day moving average is $25.15. Northeast Community Bancorp Inc. has a 52-week low of $19.27 and a 52-week high of $28.94. The firm has a market cap of $363.94 million, a price-to-earnings ratio of 8.47 and a beta of 0.36.

Northeast Community Bancorp (NASDAQ:NECB) last released its quarterly earnings results on Monday, July 27th. The savings and loans company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.04). The firm had revenue of $25.29 million for the quarter, compared to analysts’ expectations of $25.76 million. Northeast Community Bancorp had a return on equity of 12.00% and a net margin of 27.67%. Research analysts predict that Northeast Community Bancorp Inc. will post 3.16 EPS for the current year.

Northeast Community Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 6th. Shareholders of record on Tuesday, July 7th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $1.00 annualized dividend and a yield of 3.8%. This is a boost from Northeast Community Bancorp’s previous quarterly dividend of $0.20. Northeast Community Bancorp’s dividend payout ratio is 32.05%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NECB. Piper Sandler upped their target price on Northeast Community Bancorp from $26.50 to $29.50 and gave the company a “neutral” rating in a report on Friday, June 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Northeast Community Bancorp in a report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

Insider Buying and Selling at Northeast Community Bancorp

In related news, CFO Donald S. Hom sold 3,000 shares of Northeast Community Bancorp stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $27.20, for a total value 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 document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.12% of the company’s stock.

Northeast Community Bancorp Profile

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.