Northeast Community Bancorp Inc. (NASDAQ:NECB) Sees Significant Increase in Short Interest

by · The Cerbat Gem

Northeast Community Bancorp Inc. (NASDAQ:NECBGet Free Report) saw a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 128,518 shares, an increase of 59.4% from the December 31st total of 80,630 shares. Currently, 1.0% of the company’s shares are sold short. Based on an average daily volume of 63,068 shares, the days-to-cover ratio is presently 2.0 days. Based on an average daily volume of 63,068 shares, the days-to-cover ratio is presently 2.0 days. Currently, 1.0% of the company’s shares are sold short.

Institutional Trading of Northeast Community Bancorp

A number of institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC purchased a new position in shares of Northeast Community Bancorp during the third quarter valued at approximately $28,000. Russell Investments Group Ltd. lifted its holdings in shares of Northeast Community Bancorp by 193.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,457 shares of the savings and loans company’s stock valued at $30,000 after buying an additional 961 shares during the period. IFP Advisors Inc boosted its stake in shares of Northeast Community Bancorp by 78.4% in the 3rd quarter. IFP Advisors Inc now owns 1,821 shares of the savings and loans company’s stock worth $38,000 after buying an additional 800 shares during the last quarter. CWM LLC grew its holdings in shares of Northeast Community Bancorp by 82.3% in the second quarter. CWM LLC now owns 3,130 shares of the savings and loans company’s stock worth $73,000 after acquiring an additional 1,413 shares during the period. Finally, BNP Paribas Financial Markets increased its position in Northeast Community Bancorp by 46.8% during the second quarter. BNP Paribas Financial Markets now owns 3,459 shares of the savings and loans company’s stock valued at $80,000 after acquiring an additional 1,102 shares during the last quarter. Hedge funds and other institutional investors own 53.25% of the company’s stock.

Northeast Community Bancorp Stock Up 1.6%

Shares of NECB traded up $0.38 during trading hours on Monday, hitting $23.98. The company had a trading volume of 21,009 shares, compared to its average volume of 56,068. The stock has a market capitalization of $336.44 million, a price-to-earnings ratio of 7.36 and a beta of 0.41. The firm has a fifty day moving average price of $22.72 and a 200-day moving average price of $21.63. Northeast Community Bancorp has a 52-week low of $19.27 and a 52-week high of $25.49. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.27 and a current ratio of 1.27.

Northeast Community Bancorp (NASDAQ:NECBGet Free Report) last released its quarterly earnings data on Wednesday, January 28th. The savings and loans company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.06). The firm had revenue of $26.45 million for the quarter, compared to the consensus estimate of $27.15 million. Northeast Community Bancorp had a net margin of 28.07% and a return on equity of 13.22%. On average, equities research analysts forecast that Northeast Community Bancorp will post 3.04 EPS for the current fiscal year.

Northeast Community Bancorp announced that its board has approved a stock repurchase plan on Monday, December 8th that allows the company to buyback $1.40 million in outstanding shares. This buyback authorization allows the savings and loans company to purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Northeast Community Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 6th. Shareholders of record on Monday, January 5th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.3%. The ex-dividend date is Monday, January 5th. Northeast Community Bancorp’s dividend payout ratio (DPR) is currently 24.54%.

Analysts Set New Price Targets

Several brokerages have weighed in on NECB. Weiss Ratings reiterated a “hold (c+)” rating on shares of Northeast Community Bancorp in a research report on Thursday, January 22nd. Zacks Research lowered Northeast Community Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 28th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Check Out Our Latest Analysis on NECB

About Northeast Community Bancorp

(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.

See Also