Northeast Community Bancorp (NASDAQ:NECB) Posts Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Northeast Community Bancorp (NASDAQ:NECB) released its quarterly earnings data on Wednesday. The savings and loans company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.06), Zacks reports. Northeast Community Bancorp had a net margin of 28.07% and a return on equity of 13.22%. The company had revenue of $26.45 million for the quarter, compared to analysts’ expectations of $27.15 million.

Northeast Community Bancorp Stock Performance

NECB opened at $23.45 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.27 and a current ratio of 1.27. The stock has a market capitalization of $329.00 million, a price-to-earnings ratio of 7.19 and a beta of 0.41. The company has a fifty day moving average of $22.66 and a 200 day moving average of $21.65. Northeast Community Bancorp has a fifty-two week low of $19.27 and a fifty-two week high of $25.93.

Northeast Community Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Monday, January 5th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, January 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.4%. Northeast Community Bancorp’s dividend payout ratio is currently 24.46%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Zacks Research lowered shares of Northeast Community Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, November 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Northeast Community Bancorp in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Northeast Community Bancorp declared that its Board of Directors has authorized a share buyback program on Monday, December 8th that authorizes the company to buyback $1.40 million in shares. This buyback authorization authorizes the savings and loans company to buy up to 0.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NECB. Larson Financial Group LLC purchased a new stake in shares of Northeast Community Bancorp in the third quarter worth about $28,000. Russell Investments Group Ltd. grew its holdings in Northeast Community Bancorp by 193.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,457 shares of the savings and loans company’s stock valued at $30,000 after buying an additional 961 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Northeast Community Bancorp by 78.4% during the 3rd quarter. IFP Advisors Inc now owns 1,821 shares of the savings and loans company’s stock worth $38,000 after acquiring an additional 800 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Northeast Community Bancorp by 46.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,459 shares of the savings and loans company’s stock worth $80,000 after acquiring an additional 1,102 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Northeast Community Bancorp in the third quarter valued at $95,000. Hedge funds and other institutional investors own 53.25% of the company’s stock.

Northeast Community Bancorp Company 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.