Hotchkis & Wiley Capital Management LLC Sells 13,000 Shares of Northeast Community Bancorp, Inc. (NASDAQ:NECB)

Hotchkis & Wiley Capital Management LLC lowered its position in Northeast Community Bancorp, Inc. (NASDAQ:NECB) by 6.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 174,974 shares of the savings and loans company’s stock after selling 13,000 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 1.25% of Northeast Community Bancorp worth $4,628,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. PDT Partners LLC bought a new stake in shares of Northeast Community Bancorp in the third quarter worth $207,000. Martingale Asset Management L P grew its holdings in shares of Northeast Community Bancorp by 20.7% in the third quarter. Martingale Asset Management L P now owns 32,620 shares of the savings and loans company’s stock worth $863,000 after acquiring an additional 5,600 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of 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. Segall Bryant & Hamill LLC grew its holdings in shares of Northeast Community Bancorp by 1.9% in the third quarter. Segall Bryant & Hamill LLC now owns 91,464 shares of the savings and loans company’s stock worth $2,419,000 after acquiring an additional 1,684 shares during the period. Finally, Empowered Funds LLC grew its holdings in shares of Northeast Community Bancorp by 5.3% in the third quarter. Empowered Funds LLC now owns 61,242 shares of the savings and loans company’s stock worth $1,620,000 after acquiring an additional 3,082 shares during the period. Institutional investors own 53.25% of the company’s stock.

Insider Buying and Selling at Northeast Community Bancorp

In other news, Director Charles A. Martinek sold 1,200 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.58, for a total value of $36,696.00. Following the transaction, the director now directly owns 75 shares in the company, valued at $2,293.50. The trade was a 94.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John F. Mckenzie sold 1,000 shares of the business’s stock in a transaction dated 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 owns 11,792 shares in the company, valued at $340,788.80. The trade was a 7.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.70% of the stock is currently owned by corporate insiders.

Northeast Community Bancorp Stock Performance

Shares of NECB opened at $28.88 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 one year low of $14.26 and a one year high of $31.72. The firm has a market capitalization of $404.93 million, a P/E ratio of 8.02 and a beta of 0.63. The business has a fifty day moving average of $27.87 and a 200 day moving average of $22.82.

Northeast Community Bancorp (NASDAQ:NECB) last released its quarterly earnings results on Monday, October 28th. The savings and loans company reported $0.95 earnings per share (EPS) for the quarter, beating 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 business had revenue of $42.53 million during the quarter, compared to analyst estimates of $26.53 million. As a group, sell-side analysts anticipate 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. Shareholders of record on Friday, October 4th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend was Friday, October 4th. This is a positive change from Northeast Community Bancorp’s previous quarterly dividend of $0.10. Northeast Community Bancorp’s payout ratio is currently 16.67%.

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.