Northeast Community Bancorp (NASDAQ:NECB) Stock: Insider John Mckenzie Sells 9,700 Shares

Northeast Community Bancorp Inc. (NASDAQ:NECB) Director John Mckenzie sold 9,700 shares of the business’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $29.29, for a total value of $284,113.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Northeast Community Bancorp Trading Down 0.6%

NECB stock traded down $0.19 during trading on Tuesday, hitting $29.19. The company had a trading volume of 50,498 shares, compared to its average volume of 44,550. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $401.95 million, a P/E ratio of 9.60 and a beta of 0.38. The company has a 50 day simple moving average of $27.22 and a 200-day simple moving average of $25.51. Northeast Community Bancorp Inc. has a 52-week low of $19.39 and a 52-week high of $29.69.

Northeast Community Bancorp (NASDAQ:NECB) last posted its quarterly earnings data on Thursday, October 22nd. The savings and loans company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.03). Northeast Community Bancorp had a return on equity of 11.55% and a net margin of 27.21%. The business had revenue of $25.91 million during the quarter, compared to analyst estimates of $27.96 million. As a group, research analysts forecast that Northeast Community Bancorp Inc. will post 3.24 earnings per share for the current fiscal year.

Northeast Community Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 9th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.4%. The ex-dividend date is Friday, October 9th. Northeast Community Bancorp’s dividend payout ratio is currently 32.89%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NECB shares. Freedom Broker increased their price target on shares of Northeast Community Bancorp from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, October 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Northeast Community Bancorp in a report on Tuesday, September 29th. Finally, Zacks Research upgraded Northeast Community Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Northeast Community Bancorp has a consensus rating of “Buy” and a consensus price target of $30.25.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NECB. Legal & General Group Plc acquired a new position in Northeast Community Bancorp during the second quarter valued at approximately $36,000. PNC Financial Services Group Inc. increased its position in Northeast Community Bancorp by 47.6% during the first quarter. PNC Financial Services Group Inc. now owns 4,894 shares of the savings and loans company’s stock worth $116,000 after acquiring an additional 1,578 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Northeast Community Bancorp in the second quarter valued at $149,000. Sei Investments Co. acquired a new position in shares of Northeast Community Bancorp in the 1st quarter valued at $243,000. Finally, Algert Global LLC bought a new position in shares of Northeast Community Bancorp during the 2nd quarter worth about $249,000. 53.25% of the stock is owned by institutional investors and hedge funds.

About Northeast Community Bancorp

Northeast Community Bancorp, Inc is the holding company for Northeast Community Bank, a community-oriented savings bank headquartered in New York. The bank provides retail and commercial banking services to individuals, families, businesses and community organizations through its branch network in New York and New Jersey.

Northeast Community Bank offers deposit products such as checking, savings, money market and certificate of deposit accounts. Its lending activities include residential and multifamily real estate loans, commercial real estate financing, construction loans, home equity products and other loans for businesses and consumers.

The company emphasizes relationship-based banking and focuses on serving local markets, including communities in the New York metropolitan area and surrounding regions.