Northeast Community Bancorp (NASDAQ:NECB) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Northeast Community Bancorp, Inc. (NASDAQ:NECB) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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 Trading Down 0.9 %

The firm has a market cap of $351.79 million, a PE ratio of 6.97 and a beta of 0.67. The firm has a fifty day simple moving average of $27.04 and a two-hundred day simple moving average of $24.60. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.02.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. Northeast Community Bancorp had a net margin of 30.47% and a return on equity of 16.63%. The business had revenue of $42.53 million for the quarter, compared to the consensus estimate of $26.53 million. Equities analysts forecast that Northeast Community Bancorp, Inc. will post 3.57 EPS for the current year.

Northeast Community Bancorp Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Friday, January 3rd will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Friday, January 3rd. Northeast Community Bancorp’s dividend payout ratio is presently 16.67%.

Insider Activity at Northeast Community Bancorp

In related news, Director John F. Mckenzie sold 1,000 shares of Northeast Community Bancorp stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Diane B. Cavanaugh sold 2,000 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $28.45, for a total transaction of $56,900.00. Following the transaction, the director now owns 4,712 shares in the company, valued at $134,056.40. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,200 shares of company stock valued at $209,766. 4.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Northeast Community Bancorp

A number of large investors have recently added to or reduced their stakes in NECB. Kovitz Investment Group Partners LLC purchased a new stake in shares of Northeast Community Bancorp during the 3rd quarter valued at about $2,235,000. Inspire Investing LLC bought a new stake in Northeast Community Bancorp during the third quarter valued at approximately $2,132,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Northeast Community Bancorp by 74.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 142,589 shares of the savings and loans company’s stock worth $3,771,000 after acquiring an additional 60,863 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Northeast Community Bancorp by 20.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 240,261 shares of the savings and loans company’s stock valued at $4,281,000 after acquiring an additional 40,775 shares during the period. Finally, State Street Corp increased its stake in shares of Northeast Community Bancorp by 10.4% in the 3rd quarter. State Street Corp now owns 233,424 shares of the savings and loans company’s stock worth $6,174,000 after purchasing an additional 21,973 shares in the last quarter. Institutional investors own 53.25% of the company’s stock.

Northeast Community Bancorp Company Profile

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.