Northeast Community Bancorp, Inc. (NASDAQ:NECB) Short Interest Down 21.6% in October

Northeast Community Bancorp, Inc. (NASDAQ:NECB) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 130,800 shares, a drop of 21.6% from the October 15th total of 166,800 shares. Currently, 1.1% of the shares of the company are short sold. Based on an average daily volume of 70,000 shares, the short-interest ratio is presently 1.9 days.

Institutional Investors Weigh In On Northeast Community Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in NECB. SG Americas Securities LLC bought a new stake in Northeast Community Bancorp during the 3rd quarter worth $128,000. PDT Partners LLC acquired a new stake in Northeast Community Bancorp during the 3rd quarter valued at approximately $207,000. Jane Street Group LLC increased its position in shares of Northeast Community Bancorp by 33.6% during the third quarter. Jane Street Group LLC now owns 17,046 shares of the savings and loans company’s stock worth $451,000 after buying an additional 4,287 shares during the period. Barclays PLC raised its position in shares of Northeast Community Bancorp by 290.9% in the 3rd quarter. Barclays PLC now owns 17,875 shares of the savings and loans company’s stock worth $473,000 after acquiring an additional 13,302 shares in the last quarter. Finally, Sierra Summit Advisors LLC bought a new stake in Northeast Community Bancorp in the second quarter worth approximately $698,000. 53.25% of the stock is owned by institutional investors.

Northeast Community Bancorp Stock Performance

NECB opened at $29.08 on Friday. Northeast Community Bancorp has a 1 year low of $14.26 and a 1 year high of $31.48. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.14 and a quick ratio of 1.13. The company has a market capitalization of $407.70 million, a PE ratio of 8.08 and a beta of 0.59. The business has a fifty day simple moving average of $26.06 and a 200 day simple moving average of $21.61.

Northeast Community Bancorp (NASDAQ:NECB) last released its quarterly earnings results on Monday, October 28th. The savings and loans company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. The company had revenue of $42.53 million during the quarter, compared to the consensus estimate of $26.53 million. Northeast Community Bancorp had a net margin of 30.47% and a return on equity of 16.63%. Research analysts expect that Northeast Community Bancorp will post 3.61 EPS for the current year.

Northeast Community Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Friday, October 4th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, October 4th. This is a positive change from Northeast Community Bancorp’s previous quarterly dividend of $0.10. This represents a $1.20 annualized dividend and a yield of 4.13%. Northeast Community Bancorp’s dividend payout ratio (DPR) is 16.67%.

About Northeast Community Bancorp

Northeast Community Bancorp, Inc operates as the holding company for NorthEast Community Bank that provides financial services for individuals and businesses. It accepts various deposit instruments, including checking accounts, money market accounts, regular savings accounts, and non-interest bearing demand accounts, as well as certificates of deposits.