Allspring Global Investments Holdings LLC Purchases 17,538 Shares of Northeast Community Bancorp, Inc. (NASDAQ:NECB)

Allspring Global Investments Holdings LLC boosted its position in shares of Northeast Community Bancorp, Inc. (NASDAQ:NECB) by 42.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 58,674 shares of the savings and loans company’s stock after acquiring an additional 17,538 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Northeast Community Bancorp were worth $1,041,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in Northeast Community Bancorp during the 4th quarter valued at $123,000. Navellier & Associates Inc. raised its holdings in Northeast Community Bancorp by 4.1% in the 3rd quarter. Navellier & Associates Inc. now owns 20,979 shares of the savings and loans company’s stock worth $310,000 after purchasing an additional 818 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Northeast Community Bancorp by 11.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 67,485 shares of the savings and loans company’s stock worth $996,000 after purchasing an additional 7,016 shares in the last quarter. 53.25% of the stock is currently owned by institutional investors.

Northeast Community Bancorp Stock Up 0.8 %

Shares of NASDAQ NECB opened at $15.61 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.23. Northeast Community Bancorp, Inc. has a 12 month low of $12.50 and a 12 month high of $18.00. The firm has a market capitalization of $219.63 million, a PE ratio of 4.97 and a beta of 0.55. The firm has a fifty day simple moving average of $15.46 and a two-hundred day simple moving average of $16.18.

Northeast Community Bancorp (NASDAQ:NECB) last released its earnings results on Thursday, February 1st. The savings and loans company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.03. The firm had revenue of $26.59 million for the quarter, compared to the consensus estimate of $26.57 million. Northeast Community Bancorp had a net margin of 33.97% and a return on equity of 17.08%. Equities analysts expect that Northeast Community Bancorp, Inc. will post 2.56 earnings per share for the current year.

Northeast Community Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Friday, April 5th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This is an increase from Northeast Community Bancorp’s previous quarterly dividend of $0.06. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.56%. Northeast Community Bancorp’s dividend payout ratio is currently 12.74%.

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.