Insider Selling: Northeast Community Bancorp, Inc. (NASDAQ:NECB) Director Sells 1,000 Shares of Stock

Northeast Community Bancorp, Inc. (NASDAQ:NECB) Director John F. Mckenzie sold 1,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $28.90, for a total transaction of $28,900.00. Following the sale, the director now directly owns 11,792 shares of the company’s stock, valued at approximately $340,788.80. This represents a 7.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Northeast Community Bancorp Price Performance

NASDAQ NECB opened at $29.40 on Friday. Northeast Community Bancorp, Inc. has a 1 year low of $14.26 and a 1 year high of $31.48. The business’s fifty day moving average is $26.65 and its two-hundred day moving average is $21.94. The stock has a market capitalization of $412.19 million, a P/E ratio of 8.17 and a beta of 0.59. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.14 and a current ratio of 1.14.

Northeast Community Bancorp (NASDAQ:NECB) last announced its 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. Northeast Community Bancorp had a return on equity of 16.63% and a net margin of 30.47%. The company had revenue of $42.53 million for the quarter, compared to analyst estimates of $26.53 million. On average, research analysts forecast that Northeast Community Bancorp, Inc. will post 3.61 earnings per share for the current fiscal year.

Northeast Community Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Friday, October 4th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.08%. This is a boost from Northeast Community Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date was Friday, October 4th. Northeast Community Bancorp’s dividend payout ratio (DPR) is presently 16.67%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Kovitz Investment Group Partners LLC purchased a new position in Northeast Community Bancorp during the 3rd quarter worth approximately $2,235,000. Inspire Investing LLC acquired a new stake in shares of Northeast Community Bancorp in the third quarter worth $2,132,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of 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 buying an additional 60,863 shares in the last quarter. LSV Asset Management raised its position in Northeast Community Bancorp by 41.1% during the second quarter. LSV Asset Management now owns 146,182 shares of the savings and loans company’s stock valued at $2,605,000 after buying an additional 42,582 shares during the period. Finally, Dimensional Fund Advisors LP raised 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 buying an additional 40,775 shares during the period. 53.25% of the stock is owned by hedge funds and other 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.