Northeast Community Bancorp (NASDAQ:NECB) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Northeast Community Bancorp, Inc. (NASDAQ:NECB)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $24.60 and traded as high as $25.54. Northeast Community Bancorp shares last traded at $25.09, with a volume of 49,740 shares traded.

Northeast Community Bancorp Stock Performance

The stock has a market capitalization of $351.76 million, a PE ratio of 6.97 and a beta of 0.67. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.14 and a quick ratio of 1.14. The business’s fifty day moving average price is $27.04 and its 200-day moving average price is $24.65.

Northeast Community Bancorp (NASDAQ:NECB) last announced its quarterly earnings results on Monday, October 28th. The savings and loans company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. The firm had revenue of $42.53 million for the quarter, compared to the consensus estimate of $26.53 million. Northeast Community Bancorp had a net margin of 30.47% and a return on equity of 16.63%. As a group, equities research analysts expect that Northeast Community Bancorp, Inc. will post 3.57 EPS for the current year.

Northeast Community Bancorp Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Friday, January 3rd will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Friday, January 3rd. Northeast Community Bancorp’s dividend payout ratio (DPR) is 16.67%.

Insider Buying and Selling

In related news, Director Charles A. Martinek sold 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.58, for a total value of $36,696.00. Following the transaction, the director now directly owns 75 shares in the company, valued at approximately $2,293.50. This represents a 94.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John F. Mckenzie sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $28.90, for a total transaction of $28,900.00. Following the completion of the transaction, the director now owns 11,792 shares in the company, valued at approximately $340,788.80. This trade represents a 7.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,200 shares of company stock worth $209,766. Insiders own 4.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in Northeast Community Bancorp by 20.4% during the second quarter. Dimensional Fund Advisors LP now owns 240,261 shares of the savings and loans company’s stock valued at $4,281,000 after acquiring an additional 40,775 shares during the last quarter. State Street Corp grew its position in Northeast Community Bancorp by 10.4% during the third 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 last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Northeast Community Bancorp by 74.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 142,589 shares of the savings and loans company’s stock valued at $3,771,000 after acquiring an additional 60,863 shares during the last quarter. Segall Bryant & Hamill LLC grew its position in Northeast Community Bancorp by 1.9% during the third quarter. Segall Bryant & Hamill LLC now owns 91,464 shares of the savings and loans company’s stock valued at $2,419,000 after acquiring an additional 1,684 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC purchased a new stake in shares of Northeast Community Bancorp during the third quarter valued at approximately $2,235,000. 53.25% of the stock is currently owned by institutional investors.

Northeast Community Bancorp Company 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.