Insider Selling: Northeast Community Bancorp, Inc. (NASDAQ:NECB) Director Sells $56,900.00 in Stock

Northeast Community Bancorp, Inc. (NASDAQ:NECB) Director Diane B. Cavanaugh sold 2,000 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $28.45, for a total transaction of $56,900.00. Following the completion of the transaction, the director now owns 4,712 shares of the company’s stock, valued at approximately $134,056.40. The trade was a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Northeast Community Bancorp Price Performance

Shares of NECB opened at $27.59 on Friday. Northeast Community Bancorp, Inc. has a fifty-two week low of $14.26 and a fifty-two week high of $31.72. The firm’s 50-day simple moving average is $28.24 and its two-hundred day simple moving average is $23.32. The stock has a market cap of $386.84 million, a PE ratio of 7.66 and a beta of 0.63. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.14 and a current ratio of 1.14.

Northeast Community Bancorp (NASDAQ:NECB) last issued its quarterly earnings results on Monday, October 28th. The savings and loans company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. Northeast Community Bancorp had a return on equity of 16.63% and a net margin of 30.47%. The firm had revenue of $42.53 million for the quarter, compared to analysts’ expectations of $26.53 million. Analysts anticipate that Northeast Community Bancorp, Inc. will post 3.61 earnings per share for the current fiscal year.

Northeast Community Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Friday, October 4th were paid a $0.30 dividend. 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 dividend yield of 4.35%. The ex-dividend date of this dividend was Friday, October 4th. Northeast Community Bancorp’s dividend payout ratio is currently 16.67%.

Hedge Funds Weigh In On Northeast Community Bancorp

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in Northeast Community Bancorp during the 3rd quarter valued at about $128,000. PDT Partners LLC purchased a new position in Northeast Community Bancorp in the third quarter worth about $207,000. Jane Street Group LLC lifted its stake in shares of Northeast Community Bancorp by 33.6% in the third quarter. Jane Street Group LLC now owns 17,046 shares of the savings and loans company’s stock worth $451,000 after buying an additional 4,287 shares in the last quarter. Barclays PLC grew its holdings in shares of Northeast Community Bancorp by 290.9% during the third quarter. Barclays PLC now owns 17,875 shares of the savings and loans company’s stock valued at $473,000 after buying an additional 13,302 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Northeast Community Bancorp by 50.6% during the third quarter. Franklin Resources Inc. now owns 23,156 shares of the savings and loans company’s stock valued at $630,000 after acquiring an additional 7,785 shares in the last quarter. Hedge funds and other institutional investors own 53.25% of the company’s stock.

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.