166,239 Shares in Northeast Community Bancorp Inc. $NECB Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Northeast Community Bancorp Inc. (NASDAQ:NECB) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 166,239 shares of the savings and loans company’s stock, valued at approximately $4,611,000.

Several other institutional investors and hedge funds also recently bought and sold shares of NECB. Jacobs Levy Equity Management Inc. raised its stake in shares of Northeast Community Bancorp by 3.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 20,582 shares of the savings and loans company’s stock valued at $423,000 after acquiring an additional 650 shares during the period. Man Group plc lifted its holdings in shares of Northeast Community Bancorp by 4.0% in the 3rd quarter. Man Group plc now owns 19,838 shares of the savings and loans company’s stock worth $408,000 after acquiring an additional 767 shares during the last quarter. Harbour Investments Inc. lifted its holdings in shares of Northeast Community Bancorp by 109.9% in the 4th quarter. Harbour Investments Inc. now owns 1,522 shares of the savings and loans company’s stock worth $34,000 after acquiring an additional 797 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Northeast Community Bancorp by 78.4% during the 3rd quarter. IFP Advisors Inc now owns 1,821 shares of the savings and loans company’s stock worth $38,000 after purchasing an additional 800 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Northeast Community Bancorp by 1.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 84,108 shares of the savings and loans company’s stock worth $1,730,000 after purchasing an additional 935 shares during the period. 53.25% of the stock is owned by hedge funds and other institutional investors.

Northeast Community Bancorp Stock Performance

Shares of Northeast Community Bancorp stock opened at $26.37 on Friday. The stock’s fifty day moving average is $26.78 and its two-hundred day moving average is $25.14. The company has a market capitalization of $363.11 million, a PE ratio of 8.45 and a beta of 0.36. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. Northeast Community Bancorp Inc. has a 52 week low of $19.27 and a 52 week high of $28.94.

Northeast Community Bancorp (NASDAQ:NECB) last released its earnings results on Monday, July 27th. The savings and loans company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.04). Northeast Community Bancorp had a return on equity of 12.00% and a net margin of 27.67%.The business had revenue of $25.29 million during the quarter, compared to analysts’ expectations of $25.76 million. As a group, analysts expect that Northeast Community Bancorp Inc. will post 3.16 earnings per share for the current year.

Northeast Community Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 6th. Stockholders of record on Tuesday, July 7th were issued a $0.25 dividend. The ex-dividend date was Tuesday, July 7th. This is a boost from Northeast Community Bancorp’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.8%. Northeast Community Bancorp’s dividend payout ratio (DPR) is currently 32.05%.

Analyst Upgrades and Downgrades

NECB has been the topic of a number of recent analyst reports. Piper Sandler increased their price objective on shares of Northeast Community Bancorp from $26.50 to $29.50 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Northeast Community Bancorp in a research note on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $29.50.

Insider Buying and Selling

In related news, CFO Donald S. Hom sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $27.20, for a total value of $81,600.00. Following the transaction, the chief financial officer owned 4,714 shares of the company’s stock, valued at $128,220.80. This trade represents a 38.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 7.12% of the stock is owned by corporate insiders.

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.