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

Northeast Community Bancorp, Inc. (NASDAQ:NECB) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 130,800 shares, a decrease of 21.6% from the October 15th total of 166,800 shares. Based on an average daily volume of 70,000 shares, the short-interest ratio is presently 1.9 days. Currently, 1.1% of the company’s stock are sold short.

Northeast Community Bancorp Price Performance

NASDAQ NECB opened at $29.08 on Friday. The company has a market cap of $407.70 million, a PE ratio of 8.08 and a beta of 0.59. The firm’s 50 day moving average price is $26.06 and its 200-day moving average price is $21.61. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.13 and a current ratio of 1.14. Northeast Community Bancorp has a 52-week low of $14.26 and a 52-week high of $31.48.

Northeast Community Bancorp (NASDAQ:NECB) last announced its quarterly earnings results on Monday, October 28th. The savings and loans company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. The business had revenue of $42.53 million for the quarter, compared to the consensus estimate of $26.53 million. Northeast Community Bancorp had a return on equity of 16.63% and a net margin of 30.47%. Sell-side analysts forecast that Northeast Community Bancorp will post 3.61 EPS 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. The ex-dividend date of this dividend was Friday, October 4th. This is an increase 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 4.13%. Northeast Community Bancorp’s payout ratio is currently 16.67%.

Institutional Trading of Northeast Community Bancorp

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Northeast Community Bancorp by 5.3% during the first quarter. Vanguard Group Inc. now owns 665,792 shares of the savings and loans company’s stock valued at $10,473,000 after acquiring an additional 33,703 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Northeast Community Bancorp by 20.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 240,261 shares of the savings and loans company’s stock worth $4,281,000 after purchasing an additional 40,775 shares in the last quarter. State Street Corp boosted its position in shares of Northeast Community Bancorp by 10.4% in the 3rd quarter. State Street Corp now owns 233,424 shares of the savings and loans company’s stock worth $6,174,000 after purchasing an additional 21,973 shares in the last quarter. Acadian Asset Management LLC grew its stake in Northeast Community Bancorp by 3.0% during the 2nd quarter. Acadian Asset Management LLC now owns 155,774 shares of the savings and loans company’s stock worth $2,774,000 after buying an additional 4,554 shares during the last quarter. Finally, LSV Asset Management increased its position in Northeast Community Bancorp by 41.1% during the 2nd 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 in the last quarter. 53.25% of the stock is currently owned by institutional investors.

About Northeast Community Bancorp

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.