Northeast Community Bancorp (NASDAQ:NECB) Announces Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Northeast Community Bancorp (NASDAQ:NECB) released its quarterly earnings results on Wednesday. The savings and loans company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.02), Zacks reports. Northeast Community Bancorp had a return on equity of 16.63% and a net margin of 30.47%.

Northeast Community Bancorp Trading Down 0.6 %

NASDAQ:NECB traded down $0.15 on Wednesday, reaching $25.56. The stock had a trading volume of 51,043 shares, compared to its average volume of 74,088. The company has a market cap of $358.41 million, a price-to-earnings ratio of 7.10 and a beta of 0.67. Northeast Community Bancorp has a 12-month low of $14.26 and a 12-month high of $31.72. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.14 and a quick ratio of 1.14. The firm’s fifty day moving average is $26.43 and its two-hundred day moving average is $25.05.

Northeast Community Bancorp Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Friday, January 3rd will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Friday, January 3rd. Northeast Community Bancorp’s dividend payout ratio is presently 16.67%.

Insider Activity

In other news, Director Charles A. Martinek sold 1,200 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.58, for a total transaction of $36,696.00. Following the completion of the transaction, the director now owns 75 shares of the company’s stock, valued at $2,293.50. This represents a 94.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Donald S. Hom sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $29.09, for a total transaction of $87,270.00. Following the completion of the sale, the chief financial officer now directly owns 8,759 shares in the company, valued at $254,799.31. This represents a 25.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,200 shares of company stock valued at $209,766 over the last 90 days. Insiders own 4.70% 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.