Man Group plc Acquires New Position in Northeast Community Bancorp Inc. $NECB

Man Group plc acquired a new position in shares of Northeast Community Bancorp Inc. (NASDAQ:NECB) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 45,419 shares of the savings and loans company’s stock, valued at approximately $1,260,000. Man Group plc owned about 0.33% of Northeast Community Bancorp at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC purchased a new stake in shares of Northeast Community Bancorp in the 3rd quarter valued at approximately $28,000. Russell Investments Group Ltd. increased its holdings in shares of 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 worth $30,000 after buying an additional 961 shares during the last quarter. Harbour Investments Inc. raised 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 period. Legal & General Group Plc purchased a new stake in shares of Northeast Community Bancorp during the 2nd quarter valued at approximately $36,000. Finally, IFP Advisors Inc lifted its holdings in Northeast Community Bancorp by 78.4% in the third quarter. IFP Advisors Inc now owns 1,821 shares of the savings and loans company’s stock valued at $38,000 after acquiring an additional 800 shares during the last quarter. 53.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Donald S. Hom sold 3,000 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $27.20, for a total transaction of $81,600.00. Following the completion of the transaction, the chief financial officer directly owned 4,714 shares in the company, valued at $128,220.80. This trade represents a 38.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 7.12% of the stock is owned by company insiders.

Northeast Community Bancorp Price Performance

Shares of NECB opened at $26.74 on Thursday. The firm has a 50-day simple moving average of $26.79 and a two-hundred day simple moving average of $25.19. The stock has a market cap of $368.21 million, a PE ratio of 8.57 and a beta of 0.36. Northeast Community Bancorp Inc. has a 1-year low of $19.27 and a 1-year high of $28.94. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29.

Northeast Community Bancorp (NASDAQ:NECB) last issued its quarterly earnings data 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 company had revenue of $25.29 million during the quarter, compared to analyst estimates of $25.76 million. Northeast Community Bancorp had a return on equity of 12.00% and a net margin of 27.67%. As a group, analysts forecast that Northeast Community Bancorp Inc. will post 3.16 EPS for the current year.

Northeast Community Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 6th. Shareholders of record on Tuesday, July 7th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.7%. This is a positive change from Northeast Community Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, July 7th. Northeast Community Bancorp’s payout ratio is currently 32.05%.

Analysts Set New Price Targets

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

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.