Northeast Community Bancorp (NASDAQ:NECB) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Northeast Community Bancorp, Inc. (NASDAQ:NECB) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $24.60 and traded as high as $25.54. Northeast Community Bancorp shares last traded at $25.09, with a volume of 49,740 shares changing hands.

Northeast Community Bancorp Stock Down 0.9 %

The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $351.76 million, a P/E ratio of 6.97 and a beta of 0.67. The business has a 50-day moving average price of $27.04 and a 200 day moving average price of $24.65.

Northeast Community Bancorp (NASDAQ:NECB) last posted its earnings results on Monday, October 28th. The savings and loans company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. The firm had revenue of $42.53 million during the quarter, compared to the consensus estimate of $26.53 million. Northeast Community Bancorp had a return on equity of 16.63% and a net margin of 30.47%. On average, equities analysts expect that Northeast Community Bancorp, Inc. will post 3.57 EPS for the current fiscal year.

Northeast Community Bancorp Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Friday, January 3rd will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $0.60 annualized dividend and a yield of 2.39%. Northeast Community Bancorp’s payout ratio is presently 16.67%.

Insider Activity at Northeast Community Bancorp

In other Northeast Community Bancorp news, CFO Donald S. Hom sold 3,000 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $29.09, for a total value of $87,270.00. Following the sale, the chief financial officer now owns 8,759 shares in the company, valued at $254,799.31. This trade represents a 25.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John F. Mckenzie sold 1,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $28.90, for a total value of $28,900.00. Following the completion of the sale, the director now owns 11,792 shares in the company, valued at approximately $340,788.80. The trade was a 7.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,200 shares of company stock worth $209,766. Company insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Northeast Community Bancorp

Several institutional investors have recently made changes to their positions in NECB. Kovitz Investment Group Partners LLC purchased a new position in shares of Northeast Community Bancorp during the third quarter valued at $2,235,000. Inspire Investing LLC bought a new stake in Northeast Community Bancorp during the third quarter valued at about $2,132,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Northeast Community Bancorp by 74.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 142,589 shares of the savings and loans company’s stock valued at $3,771,000 after purchasing an additional 60,863 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Northeast Community Bancorp by 20.4% during the second quarter. Dimensional Fund Advisors LP now owns 240,261 shares of the savings and loans company’s stock valued at $4,281,000 after purchasing an additional 40,775 shares in the last quarter. Finally, State Street Corp boosted its position in Northeast Community Bancorp by 10.4% during the third quarter. State Street Corp now owns 233,424 shares of the savings and loans company’s stock valued at $6,174,000 after purchasing an additional 21,973 shares in the last quarter. Hedge funds and other institutional investors own 53.25% of the company’s stock.

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.