Renaissance Technologies LLC Has $4.19 Million Stock Holdings in Northeast Community Bancorp Inc. $NECB

Renaissance Technologies LLC grew its stake in shares of Northeast Community Bancorp Inc. (NASDAQ:NECB) by 19.4% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 176,205 shares of the savings and loans company’s stock after acquiring an additional 28,605 shares during the quarter. Renaissance Technologies LLC owned about 1.28% of Northeast Community Bancorp worth $4,194,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NECB. AQR Capital Management LLC bought a new stake in Northeast Community Bancorp during the first quarter worth about $1,779,000. Millennium Management LLC lifted its holdings 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 acquiring an additional 117,888 shares during the period. Empowered Funds LLC boosted its position in shares of Northeast Community Bancorp by 7.4% during the 1st quarter. Empowered Funds LLC now owns 69,058 shares of the savings and loans company’s stock worth $1,619,000 after acquiring an additional 4,741 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Northeast Community Bancorp by 78.3% during the 1st quarter. Jane Street Group LLC now owns 25,696 shares of the savings and loans company’s stock worth $602,000 after acquiring an additional 11,286 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Northeast Community Bancorp by 4.6% in the second quarter. First Trust Advisors LP now owns 58,616 shares of the savings and loans company’s stock valued at $1,363,000 after acquiring an additional 2,602 shares during the last quarter. Institutional investors own 53.25% of the company’s stock.

Northeast Community Bancorp Price Performance

Shares of NECB opened at $26.68 on Friday. Northeast Community Bancorp Inc. has a 12-month low of $19.27 and a 12-month high of $28.94. The business has a 50-day simple moving average of $26.37 and a two-hundred day simple moving average of $24.85. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.06. The stock has a market cap of $368.45 million, a PE ratio of 8.55 and a beta of 0.36.

Northeast Community Bancorp (NASDAQ:NECB) last posted its earnings results on Monday, July 27th. The savings and loans company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.04). The firm had revenue of $25.29 million during the quarter, compared to the consensus estimate of $25.76 million. Northeast Community Bancorp had a net margin of 27.67% and a return on equity of 12.10%. Analysts anticipate that Northeast Community Bancorp Inc. will post 3.16 earnings per share for the current fiscal year.

Northeast Community Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 6th. Investors of record on Tuesday, July 7th were issued a $0.25 dividend. This is a boost from Northeast Community Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, July 7th. This represents a $1.00 dividend on an annualized basis and a yield of 3.7%. Northeast Community Bancorp’s dividend payout ratio (DPR) is 32.05%.

Insider Buying and Selling

In other Northeast Community Bancorp news, CFO Donald S. Hom sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $27.20, for a total transaction of $81,600.00. Following the sale, the chief financial officer directly owned 4,714 shares of the company’s stock, valued at $128,220.80. The trade was a 38.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.12% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NECB has been the subject of several recent analyst reports. Piper Sandler upped their target price on Northeast Community Bancorp from $26.50 to $29.50 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Northeast Community Bancorp in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.50.

Northeast Community Bancorp Profile

Northeast Community Bancorp is the bank holding company for Northeast Bank, a full-service community bank headquartered in DeKalb, Illinois. Through its principal subsidiary, the company provides a range of deposit and lending products designed to meet the financial needs of individuals, families and small to mid-sized businesses in the northern Illinois market.

The company’s loan portfolio encompasses consumer and mortgage lending, home equity lines of credit, commercial real estate financing, SBA-guaranteed loans and agricultural credits.