Northeast Community Bancorp Inc. (NASDAQ:NECB) Short Interest Update

Northeast Community Bancorp Inc. (NASDAQ:NECB) was the recipient of a large drop in short interest in February. As of February 27th, there was short interest totaling 84,473 shares, a drop of 41.8% from the February 12th total of 145,267 shares. Based on an average daily trading volume, of 41,924 shares, the short-interest ratio is currently 2.0 days. Currently, 0.6% of the shares of the stock are sold short. Currently, 0.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 41,924 shares, the short-interest ratio is currently 2.0 days.

Northeast Community Bancorp Trading Down 0.1%

Shares of NASDAQ:NECB traded down $0.03 during midday trading on Friday, reaching $23.06. 42,860 shares of the company’s stock were exchanged, compared to its average volume of 39,155. The stock has a market cap of $323.53 million, a price-to-earnings ratio of 7.07 and a beta of 0.41. Northeast Community Bancorp has a fifty-two week low of $19.27 and a fifty-two week high of $25.18. The firm’s 50 day simple moving average is $23.63 and its two-hundred day simple moving average is $22.10. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.27 and a quick ratio of 1.27.

Northeast Community Bancorp (NASDAQ:NECB) last released its quarterly earnings results on Friday, January 30th. The savings and loans company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.06). The firm had revenue of $26.44 million for the quarter, compared to analysts’ expectations of $27.15 million. Northeast Community Bancorp had a return on equity of 13.22% and a net margin of 28.07%. As a group, sell-side analysts forecast that Northeast Community Bancorp will post 3.04 EPS for the current fiscal year.

Northeast Community Bancorp announced that its Board of Directors has approved a stock buyback program on Monday, December 8th that authorizes the company to buyback $1.40 million in outstanding shares. This buyback authorization authorizes the savings and loans company to purchase up to 0.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Northeast Community Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 6th. Shareholders of record on Monday, January 5th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, January 5th. This represents a $0.80 dividend on an annualized basis and a yield of 3.5%. Northeast Community Bancorp’s dividend payout ratio (DPR) is presently 24.54%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NECB shares. Zacks Research cut Northeast Community Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 28th. Weiss Ratings upgraded Northeast Community Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Institutional Trading of Northeast Community Bancorp

A number of large investors have recently made changes to their positions in the company. AQR Capital Management LLC acquired a new stake in Northeast Community Bancorp during the 1st quarter worth $1,779,000. Millennium Management LLC increased its stake in Northeast Community Bancorp by 261.8% in 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. Empowered Funds LLC raised its holdings in shares of Northeast Community Bancorp by 7.4% in the first quarter. Empowered Funds LLC now owns 69,058 shares of the savings and loans company’s stock valued at $1,619,000 after buying an additional 4,741 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Northeast Community Bancorp by 78.3% during the first quarter. Jane Street Group LLC now owns 25,696 shares of the savings and loans company’s stock worth $602,000 after buying an additional 11,286 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Northeast Community Bancorp during the second quarter worth about $1,028,000. 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.