Northeast Community Bancorp, Inc. (NASDAQ:NECB) to Issue Dividend Increase – $0.10 Per Share

Northeast Community Bancorp, Inc. (NASDAQ:NECBGet Free Report) announced a quarterly dividend on Thursday, March 21st, Zacks reports. Investors of record on Friday, April 5th will be given a dividend of 0.10 per share by the savings and loans company on Monday, May 6th. This represents a $0.40 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Thursday, April 4th. This is a boost from Northeast Community Bancorp’s previous quarterly dividend of $0.06.

Northeast Community Bancorp has raised its dividend by an average of 39.1% annually over the last three years. Northeast Community Bancorp has a dividend payout ratio of 16.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Northeast Community Bancorp to earn $2.43 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 16.5%.

Northeast Community Bancorp Stock Performance

NECB stock opened at $15.46 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.24. The company has a 50-day simple moving average of $15.91 and a 200 day simple moving average of $16.16. Northeast Community Bancorp has a fifty-two week low of $12.50 and a fifty-two week high of $18.00. The company has a market capitalization of $217.52 million, a P/E ratio of 4.92 and a beta of 0.55.

Northeast Community Bancorp (NASDAQ:NECBGet Free Report) last issued its quarterly earnings results on Thursday, February 1st. The savings and loans company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.79 by $0.03. The firm had revenue of $26.59 million for the quarter, compared to analysts’ expectations of $26.57 million. Northeast Community Bancorp had a net margin of 33.97% and a return on equity of 17.26%. Sell-side analysts predict that Northeast Community Bancorp will post 2.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Northeast Community Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. Money Concepts Capital Corp bought a new stake in shares of Northeast Community Bancorp in the 4th quarter valued at approximately $31,000. Barclays PLC raised its stake in shares of Northeast Community Bancorp by 327.0% in the fourth quarter. Barclays PLC now owns 2,182 shares of the savings and loans company’s stock valued at $33,000 after purchasing an additional 1,671 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Northeast Community Bancorp in the third quarter valued at $36,000. Geneos Wealth Management Inc. acquired a new position in shares of Northeast Community Bancorp in the first quarter valued at $37,000. Finally, UBS Group AG raised its stake in shares of Northeast Community Bancorp by 198.9% in the third quarter. UBS Group AG now owns 3,252 shares of the savings and loans company’s stock valued at $40,000 after purchasing an additional 2,164 shares in the last quarter. Hedge funds and other institutional investors own 53.25% of the company’s stock.

About Northeast Community Bancorp

(Get Free Report)

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.

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Dividend History for Northeast Community Bancorp (NASDAQ:NECB)

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