Sierra Summit Advisors LLC Acquires New Stake in Northeast Community Bancorp, Inc. (NASDAQ:NECB)

Sierra Summit Advisors LLC bought a new position in shares of Northeast Community Bancorp, Inc. (NASDAQ:NECB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 39,147 shares of the savings and loans company’s stock, valued at approximately $698,000. Sierra Summit Advisors LLC owned approximately 0.28% of Northeast Community Bancorp at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NECB. Vanguard Group Inc. lifted its position in shares of 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 worth $10,473,000 after purchasing an additional 33,703 shares in the last quarter. LSV Asset Management lifted its holdings in Northeast Community Bancorp by 1,162.8% during the 1st quarter. LSV Asset Management now owns 103,600 shares of the savings and loans company’s stock worth $1,630,000 after buying an additional 95,396 shares in the last quarter. Empowered Funds LLC boosted its position in Northeast Community Bancorp by 8.1% in the 1st quarter. Empowered Funds LLC now owns 54,020 shares of the savings and loans company’s stock valued at $850,000 after buying an additional 4,025 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Northeast Community Bancorp by 23.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 72,447 shares of the savings and loans company’s stock worth $1,140,000 after acquiring an additional 13,773 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Northeast Community Bancorp by 3.0% in the second quarter. Acadian Asset Management LLC now owns 155,774 shares of the savings and loans company’s stock worth $2,774,000 after acquiring an additional 4,554 shares in the last quarter. 53.25% of the stock is currently owned by hedge funds and other institutional investors.

Northeast Community Bancorp Stock Performance

Shares of NECB opened at $22.39 on Monday. Northeast Community Bancorp, Inc. has a 1 year low of $13.93 and a 1 year high of $23.23. The stock has a market capitalization of $314.20 million, a PE ratio of 6.93 and a beta of 0.58. The stock has a 50-day simple moving average of $21.52 and a 200-day simple moving average of $18.13.

Northeast Community Bancorp (NASDAQ:NECB) last posted its quarterly earnings results on Monday, July 22nd. The savings and loans company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.72 by $0.25. Northeast Community Bancorp had a net margin of 31.34% and a return on equity of 16.87%. The company had revenue of $40.97 million during the quarter, compared to analysts’ expectations of $24.69 million. Analysts predict that Northeast Community Bancorp, Inc. will post 2.94 EPS for the current year.

Northeast Community Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, July 5th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date was Friday, July 5th. Northeast Community Bancorp’s dividend payout ratio is presently 12.38%.

Northeast Community Bancorp 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.