Northeast Community Bancorp (NASDAQ:NECB) Share Price Passes Above 200 Day Moving Average – Here’s Why

Northeast Community Bancorp, Inc. (NASDAQ:NECB) passed above its 200-day moving average during trading on Friday . The stock has a 200-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.

Northeast Community Bancorp Stock Performance

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 has a market cap of $351.76 million, a price-to-earnings 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 $24.65.

Northeast Community Bancorp (NASDAQ:NECB) last issued its quarterly earnings results on Monday, October 28th. The savings and loans company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.04. The business had revenue of $42.53 million during the quarter, compared to the consensus estimate of $26.53 million. Northeast Community Bancorp had a return on equity of 16.63% and a net margin of 30.47%. On average, analysts expect that Northeast Community Bancorp, Inc. will post 3.57 EPS for the current year.

Northeast Community Bancorp Cuts Dividend

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

Insider Transactions at Northeast Community Bancorp

In other news, CFO Donald S. Hom sold 3,000 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $29.09, for a total value of $87,270.00. Following the completion of the transaction, the chief financial officer now directly owns 8,759 shares in the company, valued at $254,799.31. This trade represents a 25.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles A. Martinek sold 1,200 shares of the firm’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 completion of the transaction, the director now owns 75 shares of the company’s stock, valued at approximately $2,293.50. The trade was a 94.12 % 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 worth $209,766 over the last three months. 4.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NECB. MassMutual Private Wealth & Trust FSB purchased a new position in Northeast Community Bancorp during the fourth quarter valued at approximately $87,000. SG Americas Securities LLC purchased a new position in Northeast Community Bancorp during the third quarter valued at approximately $128,000. PDT Partners LLC purchased a new position in Northeast Community Bancorp during the third quarter valued at approximately $207,000. Arkadios Wealth Advisors purchased a new position in Northeast Community Bancorp during the fourth quarter valued at approximately $265,000. Finally, Jane Street Group LLC raised its position in Northeast Community Bancorp by 33.6% during the third quarter. Jane Street Group LLC now owns 17,046 shares of the savings and loans company’s stock valued at $451,000 after acquiring an additional 4,287 shares in the last quarter. 53.25% of the stock is currently owned by hedge funds and other 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.