Donald Hom Sells 3,000 Shares of Northeast Community Bancorp (NASDAQ:NECB) Stock

Northeast Community Bancorp Inc. (NASDAQ:NECB) CFO Donald Hom sold 3,000 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $27.20, for a total value of $81,600.00. Following the completion of the sale, the chief financial officer directly owned 4,714 shares of the company’s stock, valued at approximately $128,220.80. This represents a 38.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Northeast Community Bancorp Trading Down 1.8%

Shares of NASDAQ NECB opened at $26.55 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.06. The stock’s 50 day moving average price is $26.05 and its two-hundred day moving average price is $24.70. Northeast Community Bancorp Inc. has a 52-week low of $19.27 and a 52-week high of $28.94. The stock has a market capitalization of $366.79 million, a P/E ratio of 8.51 and a beta of 0.35.

Northeast Community Bancorp (NASDAQ:NECB) last issued its earnings results on Friday, July 24th. The savings and loans company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.04). Northeast Community Bancorp had a return on equity of 12.10% and a net margin of 27.67%.The firm had revenue of $25.29 million during the quarter, compared to analyst estimates of $25.76 million. On average, analysts anticipate that Northeast Community Bancorp Inc. will post 3.16 earnings per share for the current fiscal year.

Northeast Community Bancorp Increases Dividend

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Piper Sandler increased their target price on shares of Northeast Community Bancorp from $26.50 to $29.50 and gave the stock a “neutral” rating in a report on Friday, June 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northeast Community Bancorp in a report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Northeast Community Bancorp has a consensus rating of “Moderate Buy” and an average price target of $29.50.

Institutional Trading of Northeast Community Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC bought a new stake in shares of Northeast Community Bancorp in the 1st quarter worth approximately $1,779,000. Millennium Management LLC grew its stake in Northeast Community Bancorp by 261.8% during the 1st quarter. Millennium Management LLC now owns 162,916 shares of the savings and loans company’s stock worth $3,819,000 after buying an additional 117,888 shares during the last quarter. Empowered Funds LLC grew its stake in 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 buying an additional 4,741 shares during the last quarter. Jane Street Group LLC increased its position in Northeast Community Bancorp by 78.3% in the first quarter. Jane Street Group LLC now owns 25,696 shares of the savings and loans company’s stock worth $602,000 after buying an additional 11,286 shares during the period. Finally, First Trust Advisors LP increased its position in 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 worth $1,363,000 after buying an additional 2,602 shares during the period. 53.25% of the stock is currently owned by institutional investors and hedge funds.

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.