Northeast Community Bancorp Inc. $NECB Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. trimmed its stake in shares of Northeast Community Bancorp Inc. (NASDAQ:NECB) by 52.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,000 shares of the savings and loans company’s stock after selling 13,000 shares during the period. Hennessy Advisors Inc.’s holdings in Northeast Community Bancorp were worth $279,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Acadian Asset Management LLC raised its position in shares of Northeast Community Bancorp by 19.3% during the 1st quarter. Acadian Asset Management LLC now owns 282,384 shares of the savings and loans company’s stock worth $6,618,000 after purchasing an additional 45,726 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Northeast Community Bancorp by 2.9% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 170,860 shares of the savings and loans company’s stock worth $4,005,000 after purchasing an additional 4,747 shares during the last quarter. Millennium Management LLC raised its position in shares of Northeast Community Bancorp by 261.8% during the 1st quarter. Millennium Management LLC now owns 162,916 shares of the savings and loans company’s stock worth $3,819,000 after purchasing an additional 117,888 shares during the last quarter. Bridgeway Capital Management LLC raised its position in shares of Northeast Community Bancorp by 4.0% during the 1st quarter. Bridgeway Capital Management LLC now owns 122,197 shares of the savings and loans company’s stock worth $2,864,000 after purchasing an additional 4,741 shares during the last quarter. Finally, Segall Bryant & Hamill LLC raised its position in shares of Northeast Community Bancorp by 7.8% during the 1st quarter. Segall Bryant & Hamill LLC now owns 95,296 shares of the savings and loans company’s stock worth $2,234,000 after purchasing an additional 6,929 shares during the last quarter. 53.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Northeast Community Bancorp in a research report on Saturday, September 27th. Zacks Research upgraded Northeast Community Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, Northeast Community Bancorp presently has a consensus rating of “Strong Buy”.

Northeast Community Bancorp Stock Up 0.2%

NECB stock opened at $20.17 on Friday. The stock has a market capitalization of $282.99 million, a P/E ratio of 6.02 and a beta of 0.53. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.25 and a current ratio of 1.25. Northeast Community Bancorp Inc. has a one year low of $19.75 and a one year high of $31.72. The company has a 50 day moving average price of $21.38 and a two-hundred day moving average price of $22.35.

Northeast Community Bancorp (NASDAQ:NECB) last released its earnings results on Thursday, July 24th. The savings and loans company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.79 by $0.03. Northeast Community Bancorp had a net margin of 28.09% and a return on equity of 14.04%. The firm had revenue of $25.93 million during the quarter, compared to analysts’ expectations of $25.96 million. As a group, sell-side analysts expect that Northeast Community Bancorp Inc. will post 3.04 EPS for the current year.

Northeast Community Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.80 annualized dividend and a dividend yield of 4.0%. Northeast Community Bancorp’s payout ratio is currently 23.88%.

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.