Northeast Community Bancorp (NASDAQ:NECB) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Northeast Community Bancorp (NASDAQ:NECB) issued its quarterly earnings results on Monday. 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, Yahoo Finance reports. Northeast Community Bancorp had a return on equity of 16.87% and a net margin of 31.34%. The business had revenue of $42.53 million during the quarter, compared to analyst estimates of $26.53 million.

Northeast Community Bancorp Stock Performance

Shares of Northeast Community Bancorp stock traded down $0.51 on Tuesday, hitting $27.10. 2,039 shares of the company traded hands, compared to its average volume of 51,732. The business has a 50-day simple moving average of $24.48 and a 200 day simple moving average of $20.40. Northeast Community Bancorp has a 52 week low of $14.26 and a 52 week high of $28.99. The stock has a market capitalization of $379.94 million, a P/E ratio of 8.00 and a beta of 0.59.

Northeast Community Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Friday, October 4th will be issued a $0.30 dividend. The ex-dividend date is Friday, October 4th. This is a boost from Northeast Community Bancorp’s previous quarterly dividend of $0.10. This represents a $1.20 dividend on an annualized basis and a yield of 4.43%. Northeast Community Bancorp’s payout ratio is currently 17.39%.

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.