Raffles Associates LP Trims Stake in Northeast Community Bancorp, Inc. (NASDAQ:NECB)

Raffles Associates LP trimmed its position in Northeast Community Bancorp, Inc. (NASDAQ:NECB) by 5.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,500 shares of the savings and loans company’s stock after selling 3,500 shares during the quarter. Northeast Community Bancorp accounts for 1.7% of Raffles Associates LP’s holdings, making the stock its 18th largest holding. Raffles Associates LP owned about 0.44% of Northeast Community Bancorp worth $1,627,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PDT Partners LLC purchased a new stake in Northeast Community Bancorp in the third quarter worth about $207,000. Martingale Asset Management L P raised its holdings in shares of Northeast Community Bancorp by 20.7% in the 3rd quarter. Martingale Asset Management L P now owns 32,620 shares of the savings and loans company’s stock valued at $863,000 after purchasing an additional 5,600 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Northeast Community Bancorp by 74.5% in the 3rd 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 purchasing an additional 60,863 shares during the period. Segall Bryant & Hamill LLC boosted its stake in shares of Northeast Community Bancorp by 1.9% during the third quarter. Segall Bryant & Hamill LLC now owns 91,464 shares of the savings and loans company’s stock valued at $2,419,000 after purchasing an additional 1,684 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of Northeast Community Bancorp by 5.3% during the third quarter. Empowered Funds LLC now owns 61,242 shares of the savings and loans company’s stock valued at $1,620,000 after purchasing an additional 3,082 shares in the last quarter. Institutional investors own 53.25% of the company’s stock.

Northeast Community Bancorp Stock Performance

Shares of NASDAQ:NECB opened at $30.15 on Friday. The firm has a 50 day moving average of $27.42 and a 200 day moving average of $22.40. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $422.70 million, a price-to-earnings ratio of 8.36 and a beta of 0.59. Northeast Community Bancorp, Inc. has a 52 week low of $14.26 and a 52 week high of $31.72.

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

Northeast Community Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Friday, October 4th were issued a $0.30 dividend. This is a boost 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 3.98%. The ex-dividend date was Friday, October 4th. Northeast Community Bancorp’s dividend payout ratio (DPR) is currently 16.67%.

Insider Transactions at Northeast Community Bancorp

In related news, Director John F. Mckenzie sold 1,000 shares of the 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 completion of the transaction, the director now directly owns 11,792 shares of the company’s stock, valued at $340,788.80. This trade represents a 7.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles A. Martinek sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $30.58, for a total transaction of $36,696.00. Following the sale, the director now directly owns 75 shares in the company, valued at approximately $2,293.50. This represents a 94.12 % decrease in their position. The disclosure for this sale can be found here. 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.