Short Interest in Northeast Community Bancorp Inc. (NASDAQ:NECB) Drops By 41.8%

Northeast Community Bancorp Inc. (NASDAQ:NECB) saw a significant drop in short interest in the month of February. As of February 27th, there was short interest totaling 84,473 shares, a drop of 41.8% from the February 12th total of 145,267 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 41,924 shares, the days-to-cover ratio is currently 2.0 days. Based on an average daily trading volume, of 41,924 shares, the days-to-cover ratio is currently 2.0 days. Approximately 0.6% of the shares of the company are short sold.

Institutional Investors Weigh In On Northeast Community Bancorp

Large investors have recently bought and sold shares of the company. Larson Financial Group LLC bought a new position in Northeast Community Bancorp during the 3rd quarter worth approximately $28,000. Russell Investments Group Ltd. raised its stake in shares of Northeast Community Bancorp by 193.8% in the third 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 during the period. Harbour Investments Inc. lifted its position in shares of Northeast Community Bancorp by 109.9% during the 4th quarter. Harbour Investments Inc. now owns 1,522 shares of the savings and loans company’s stock valued at $34,000 after buying an additional 797 shares during the last quarter. IFP Advisors Inc grew its stake 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 during the period. Finally, PNC Financial Services Group Inc. raised its stake in Northeast Community Bancorp by 4,381.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,316 shares of the savings and loans company’s stock valued at $75,000 after acquiring an additional 3,242 shares during the period. 53.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on NECB shares. Zacks Research downgraded Northeast Community Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 28th. Weiss Ratings raised Northeast Community Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Northeast Community Bancorp Trading Down 0.5%

Northeast Community Bancorp stock traded down $0.12 during midday trading on Thursday, reaching $23.02. The stock had a trading volume of 5,094 shares, compared to its average volume of 49,389. Northeast Community Bancorp has a twelve month low of $19.27 and a twelve month high of $25.18. The stock’s 50-day simple moving average is $23.62 and its 200 day simple moving average is $22.09. 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 $322.90 million, a PE ratio of 7.06 and a beta of 0.41.

Northeast Community Bancorp (NASDAQ:NECB) last posted its quarterly earnings data on Wednesday, January 28th. The savings and loans company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.06). 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 during the quarter, compared to the consensus estimate of $27.15 million. Analysts expect that Northeast Community Bancorp will post 3.04 EPS for the current year.

Northeast Community Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 6th. Shareholders of record on Monday, January 5th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.5%. The ex-dividend date was Monday, January 5th. Northeast Community Bancorp’s dividend payout ratio (DPR) is 24.54%.

Northeast Community Bancorp announced that its board has approved a share buyback plan on Monday, December 8th that permits the company to repurchase $1.40 million in shares. This repurchase authorization permits the savings and loans company to buy up to 0.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.