Northeast Community Bancorp (NASDAQ:NECB) Releases Earnings Results, Misses Expectations By $0.04 EPS

Northeast Community Bancorp (NASDAQ:NECB) posted its quarterly earnings data on Friday. The savings and loans company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.04), Zacks reports. Northeast Community Bancorp had a return on equity of 12.62% and a net margin of 28.16%.

Northeast Community Bancorp Stock Performance

NASDAQ:NECB traded up $0.20 during trading hours on Friday, hitting $26.66. 24,216 shares of the company traded hands, compared to its average volume of 43,652. The stock has a market capitalization of $368.11 million, a price-to-earnings ratio of 8.28 and a beta of 0.35. Northeast Community Bancorp has a twelve month low of $19.27 and a twelve month high of $28.94. The firm has a 50-day moving average of $25.73 and a 200 day moving average of $24.55. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.06.

Northeast Community Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Tuesday, July 7th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.8%. This is an increase from Northeast Community Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, July 7th. Northeast Community Bancorp’s payout ratio is presently 31.06%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NECB shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Northeast Community Bancorp in a report on Thursday, July 2nd. Piper Sandler upped their price target on shares of Northeast Community Bancorp from $26.50 to $29.50 and gave the company a “neutral” rating in a report on Friday, June 26th. Finally, Freedom Capital raised Northeast Community Bancorp to a “strong-buy” rating in a research report on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Northeast Community Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $29.50.

Institutional Investors Weigh In On Northeast Community Bancorp

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Northeast Community Bancorp by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 671,486 shares of the savings and loans company’s stock valued at $13,812,000 after acquiring an additional 1,695 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Northeast Community Bancorp by 5.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 441,183 shares of the savings and loans company’s stock worth $9,975,000 after purchasing an additional 22,754 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Northeast Community Bancorp by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 395,299 shares of the savings and loans company’s stock valued at $8,939,000 after purchasing an additional 12,250 shares during the period. Millennium Management LLC increased its position in shares of Northeast Community Bancorp by 261.8% during the first quarter. Millennium Management LLC now owns 162,916 shares of the savings and loans company’s stock valued at $3,819,000 after purchasing an additional 117,888 shares during the period. Finally, Bridgeway Capital Management LLC raised its stake in shares of Northeast Community Bancorp by 6.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 132,336 shares of the savings and loans company’s stock valued at $2,992,000 after purchasing an additional 7,686 shares in the last quarter. 53.25% of the stock is owned by institutional investors and hedge funds.

Northeast Community Bancorp Company 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.