Northeast Community Bancorp, Inc. (NASDAQ:NECB) Sees Large Decline in Short Interest

Northeast Community Bancorp, Inc. (NASDAQ:NECB) was the target of a significant decrease in short interest during 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. Approximately 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 70,000 shares, the days-to-cover ratio is currently 1.9 days.

Northeast Community Bancorp Stock Up 0.1 %

NASDAQ NECB traded up $0.03 during trading on Friday, hitting $29.08. The company’s stock had a trading volume of 54,212 shares, compared to its average volume of 53,671. The company has a market cap of $407.70 million, a PE ratio of 8.08 and a beta of 0.59. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.14 and a quick ratio of 1.13. The business’s 50 day simple moving average is $26.06 and its 200-day simple moving average is $21.57. Northeast Community Bancorp has a fifty-two week low of $14.26 and a fifty-two week high of $31.48.

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. The company had revenue of $42.53 million during the quarter, compared to analysts’ expectations of $26.53 million. Northeast Community Bancorp had a return on equity of 16.63% and a net margin of 30.47%. On average, equities analysts anticipate that Northeast Community Bancorp will post 3.61 EPS for the current fiscal year.

Northeast Community Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Friday, October 4th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend was Friday, October 4th. This is a boost from Northeast Community Bancorp’s previous quarterly dividend of $0.10. Northeast Community Bancorp’s dividend payout ratio (DPR) is 16.67%.

Institutional Investors Weigh In On Northeast Community Bancorp

Several hedge funds have recently added to or reduced their stakes in NECB. SG Americas Securities LLC purchased a new stake in Northeast Community Bancorp during the third quarter worth $128,000. PDT Partners LLC purchased a new position in shares of Northeast Community Bancorp during the 3rd quarter valued at approximately $207,000. Jane Street Group LLC grew its stake in Northeast Community Bancorp by 33.6% in the 3rd quarter. Jane Street Group LLC now owns 17,046 shares of the savings and loans company’s stock valued at $451,000 after acquiring an additional 4,287 shares during the period. Barclays PLC increased its holdings in Northeast Community Bancorp by 290.9% in the 3rd quarter. Barclays PLC now owns 17,875 shares of the savings and loans company’s stock worth $473,000 after acquiring an additional 13,302 shares in the last quarter. Finally, Sierra Summit Advisors LLC acquired a new position in Northeast Community Bancorp during the second quarter worth $698,000. 53.25% of the stock is owned by hedge funds and other institutional investors.

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.