Insider Selling: Northeast Community Bancorp, Inc. (NASDAQ:NECB) Director Sells $28,900.00 in Stock

Northeast Community Bancorp, Inc. (NASDAQ:NECB) Director John F. Mckenzie sold 1,000 shares of Northeast Community Bancorp stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $28.90, for a total value of $28,900.00. Following the sale, the director now directly owns 11,792 shares in the company, valued at approximately $340,788.80. This trade represents a 7.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Northeast Community Bancorp Stock Down 0.7 %

Shares of Northeast Community Bancorp stock opened at $29.40 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.14 and a quick ratio of 1.14. Northeast Community Bancorp, Inc. has a 1-year low of $14.26 and a 1-year high of $31.48. The business’s fifty day moving average price is $26.65 and its two-hundred day moving average price is $21.94. The company has a market capitalization of $412.19 million, a P/E ratio of 8.17 and a beta of 0.59.

Northeast Community Bancorp (NASDAQ:NECB) last issued its quarterly earnings data 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 business had revenue of $42.53 million for the quarter, compared to analysts’ expectations of $26.53 million. Northeast Community Bancorp had a net margin of 30.47% and a return on equity of 16.63%. As a group, research analysts forecast that Northeast Community Bancorp, Inc. will post 3.61 EPS for the current year.

Northeast Community Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Friday, October 4th were paid a $0.30 dividend. This is a positive change from Northeast Community Bancorp’s previous quarterly dividend of $0.10. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date was Friday, October 4th. Northeast Community Bancorp’s dividend payout ratio is currently 16.67%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NECB. Barclays PLC raised its holdings in Northeast Community Bancorp by 290.9% during the third quarter. Barclays PLC now owns 17,875 shares of the savings and loans company’s stock worth $473,000 after purchasing an additional 13,302 shares in the last quarter. Jane Street Group LLC increased its position in shares of Northeast Community Bancorp by 33.6% during the 3rd quarter. Jane Street Group LLC now owns 17,046 shares of the savings and loans company’s stock valued at $451,000 after purchasing an additional 4,287 shares during the period. Kovitz Investment Group Partners LLC bought a new stake in shares of Northeast Community Bancorp in the 3rd quarter worth $2,235,000. State Street Corp lifted its holdings in shares of Northeast Community Bancorp by 10.4% in 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 buying an additional 21,973 shares during the period. Finally, PDT Partners LLC bought a new position in Northeast Community Bancorp during the third quarter valued at about $207,000. 53.25% of the stock is currently owned by institutional investors.

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.