Connor Clark & Lunn Investment Management Ltd. Increases Stake in Northeast Community Bancorp, Inc. (NASDAQ:NECB)

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Northeast Community Bancorp, Inc. (NASDAQ:NECB) by 16.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 166,113 shares of the savings and loans company’s stock after purchasing an additional 23,524 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 1.18% of Northeast Community Bancorp worth $4,063,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Arkadios Wealth Advisors bought a new position in Northeast Community Bancorp during the 4th quarter valued at about $265,000. Barclays PLC lifted its stake in Northeast Community Bancorp by 290.9% during the 3rd quarter. Barclays PLC now owns 17,875 shares of the savings and loans company’s stock valued at $473,000 after acquiring an additional 13,302 shares during the period. Franklin Resources Inc. lifted its stake in Northeast Community Bancorp by 50.6% during the 3rd quarter. Franklin Resources Inc. now owns 23,156 shares of the savings and loans company’s stock valued at $630,000 after acquiring an additional 7,785 shares during the period. State Street Corp lifted its stake in Northeast Community Bancorp by 10.4% during the 3rd quarter. State Street Corp now owns 233,424 shares of the savings and loans company’s stock valued at $6,174,000 after acquiring an additional 21,973 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Northeast Community Bancorp by 66.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 20,315 shares of the savings and loans company’s stock valued at $537,000 after acquiring an additional 8,100 shares during the period. 53.25% of the stock is owned by hedge funds and other institutional investors.

Northeast Community Bancorp Price Performance

NECB opened at $22.82 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market capitalization of $319.96 million, a P/E ratio of 6.37 and a beta of 0.67. The company’s 50-day simple moving average is $24.03 and its two-hundred day simple moving average is $25.51. Northeast Community Bancorp, Inc. has a 52-week low of $14.77 and a 52-week high of $31.72.

Northeast Community Bancorp (NASDAQ:NECB) last posted its earnings results on Wednesday, January 29th. The savings and loans company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.02). Northeast Community Bancorp had a net margin of 29.36% and a return on equity of 15.96%. As a group, analysts predict that Northeast Community Bancorp, Inc. will post 3.04 EPS for the current year.

Northeast Community Bancorp Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Friday, January 3rd were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend was Friday, January 3rd. Northeast Community Bancorp’s dividend payout ratio (DPR) is presently 16.76%.

Northeast Community Bancorp 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.