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

by · The Markets Daily

Northeast Community Bancorp Inc. (NASDAQ:NECBGet Free Report) saw a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 113,660 shares, an increase of 34.6% from the February 26th total of 84,473 shares. Based on an average daily volume of 38,489 shares, the short-interest ratio is presently 3.0 days. Currently, 0.9% of the company’s stock are short sold.

Northeast Community Bancorp Stock Up 1.8%

NECB stock traded up $0.42 during midday trading on Monday, reaching $23.87. 36,283 shares of the company were exchanged, compared to its average volume of 36,801. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.19 and a current ratio of 1.19. Northeast Community Bancorp has a 1-year low of $19.27 and a 1-year high of $25.18. The stock’s 50-day simple moving average is $23.78 and its 200 day simple moving average is $22.20. The company has a market cap of $330.12 million, a price-to-earnings ratio of 7.32 and a beta of 0.41.

Northeast Community Bancorp (NASDAQ:NECBGet Free Report) last issued its earnings results on Friday, January 30th. The savings and loans company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.06). The company had revenue of $26.44 million during the quarter, compared to analyst estimates of $27.15 million. Northeast Community Bancorp had a net margin of 28.07% and a return on equity of 13.07%. On average, equities analysts forecast that Northeast Community Bancorp will post 3.04 earnings per share for the current year.

Northeast Community Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 5th. Shareholders of record on Monday, April 6th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, April 6th. Northeast Community Bancorp’s dividend payout ratio is currently 24.54%.

Northeast Community Bancorp announced that its Board of Directors has initiated a share repurchase plan on Monday, December 8th that permits the company to repurchase $1.40 million in shares. This repurchase authorization permits the savings and loans company to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Northeast Community Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brevan Howard Capital Management LP purchased a new position in shares of Northeast Community Bancorp during the second quarter worth approximately $231,000. BNP Paribas Financial Markets boosted its stake in Northeast Community Bancorp by 46.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,459 shares of the savings and loans company’s stock worth $80,000 after purchasing an additional 1,102 shares during the period. PNC Financial Services Group Inc. boosted its stake in Northeast Community Bancorp by 4,381.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,316 shares of the savings and loans company’s stock worth $75,000 after purchasing an additional 3,242 shares during the period. Larson Financial Group LLC purchased a new position in Northeast Community Bancorp during the 3rd quarter worth $28,000. Finally, Hsbc Holdings PLC increased its stake in Northeast Community Bancorp by 11.0% in the fourth quarter. Hsbc Holdings PLC now owns 21,495 shares of the savings and loans company’s stock valued at $487,000 after purchasing an additional 2,138 shares during the period. Hedge funds and other institutional investors own 53.25% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Northeast Community Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Northeast Community Bancorp currently has a consensus rating of “Moderate Buy”.

Read Our Latest Research Report on Northeast Community Bancorp

Northeast Community Bancorp Company Profile

(Get Free Report)

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.

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