Northeast Community Bancorp (NASDAQ:NECB) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Northeast Community Bancorp (NASDAQ:NECB) issued its earnings results on Wednesday. The savings and loans company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.02), Zacks reports. Northeast Community Bancorp had a net margin of 30.47% and a return on equity of 16.63%.

Northeast Community Bancorp Stock Down 0.6 %

Shares of NASDAQ NECB traded down $0.15 on Wednesday, hitting $25.56. The company had a trading volume of 51,043 shares, compared to its average volume of 74,088. The firm has a market capitalization of $358.41 million, a P/E ratio of 7.10 and a beta of 0.67. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.02. Northeast Community Bancorp has a 12-month low of $14.26 and a 12-month high of $31.72. The business has a 50 day moving average of $26.43 and a two-hundred day moving average of $25.05.

Northeast Community Bancorp Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Friday, January 3rd. Northeast Community Bancorp’s dividend payout ratio is presently 16.67%.

Insider Buying and Selling

In related news, Director John F. Mckenzie sold 1,000 shares of the stock in a transaction dated Friday, November 15th. The stock was 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 of the company’s stock, valued at approximately $340,788.80. This represents a 7.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Diane B. Cavanaugh sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $28.45, for a total value of $56,900.00. Following the completion of the transaction, the director now directly owns 4,712 shares in the company, valued at approximately $134,056.40. The trade was a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,200 shares of company stock valued at $209,766. Corporate insiders own 4.70% of the company’s stock.

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.