Northeast Community Bancorp (NASDAQ:NECB) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Northeast Community Bancorp Inc. (NASDAQ:NECB) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $24.14 and traded as high as $28.33. Northeast Community Bancorp shares last traded at $28.32, with a volume of 51,114 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Piper Sandler lifted their price target on Northeast Community Bancorp from $26.50 to $29.50 and gave the company a “neutral” rating in a research note on Friday, June 26th. Freedom Capital raised Northeast Community Bancorp to a “strong-buy” rating in a research note on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.50.

Northeast Community Bancorp Stock Up 2.1%

The stock’s fifty day moving average is $24.94 and its two-hundred day moving average is $24.14. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $391.10 million, a PE ratio of 8.80 and a beta of 0.35.

Northeast Community Bancorp (NASDAQ:NECB) last issued its quarterly earnings results on Thursday, April 30th. The savings and loans company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.01). The company had revenue of $24.93 million for the quarter, compared to analysts’ expectations of $26.42 million. Northeast Community Bancorp had a return on equity of 12.62% and a net margin of 28.16%. As a group, analysts predict that Northeast Community Bancorp Inc. will post 3.16 EPS for the current year.

Northeast Community Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 6th. Shareholders of record on Tuesday, July 7th will be given a dividend of $0.25 per share. This is an increase from Northeast Community Bancorp’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Tuesday, July 7th. Northeast Community Bancorp’s dividend payout ratio (DPR) is currently 24.84%.

Institutional Investors Weigh In On Northeast Community Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of NECB. Vanguard Group Inc. boosted its holdings in Northeast Community Bancorp by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 671,486 shares of the savings and loans company’s stock valued at $13,812,000 after purchasing an additional 1,695 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Northeast Community Bancorp by 5.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 466,870 shares of the savings and loans company’s stock valued at $11,112,000 after purchasing an additional 25,687 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Northeast Community Bancorp by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 395,299 shares of the savings and loans company’s stock worth $8,939,000 after purchasing an additional 12,250 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Northeast Community Bancorp by 19.4% in the first quarter. Renaissance Technologies LLC now owns 176,205 shares of the savings and loans company’s stock worth $4,194,000 after purchasing an additional 28,605 shares during the period. Finally, Millennium Management LLC raised its position in shares of Northeast Community Bancorp by 261.8% in the first quarter. Millennium Management LLC now owns 162,916 shares of the savings and loans company’s stock worth $3,819,000 after buying an additional 117,888 shares in the last quarter. 53.25% of the stock is owned by hedge funds and other institutional investors.

Northeast Community Bancorp Company Profile

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.