Northeast Community Bancorp (NASDAQ:NECB) Upgraded at Zacks Research

Zacks Research upgraded shares of Northeast Community Bancorp (NASDAQ:NECB) from a hold rating to a strong-buy rating in a research note released on Wednesday,Zacks.com reports.

Northeast Community Bancorp Price Performance

NECB opened at $20.17 on Wednesday. The stock has a fifty day moving average price of $21.38 and a 200 day moving average price of $22.36. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.40. Northeast Community Bancorp has a 1 year low of $19.75 and a 1 year high of $31.72. The stock has a market cap of $282.99 million, a price-to-earnings ratio of 6.02 and a beta of 0.53.

Northeast Community Bancorp (NASDAQ:NECB) last issued its earnings results on Thursday, July 24th. The savings and loans company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.03. The company had revenue of $25.93 million for the quarter, compared to analyst estimates of $25.96 million. Northeast Community Bancorp had a return on equity of 14.04% and a net margin of 28.09%. Analysts forecast that Northeast Community Bancorp will post 3.04 EPS for the current fiscal year.

Northeast Community Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, October 3rd. This represents a $0.80 annualized dividend and a dividend yield of 4.0%. Northeast Community Bancorp’s dividend payout ratio is 23.88%.

Institutional Investors Weigh In On Northeast Community Bancorp

A number of large investors have recently bought and sold shares of the business. CWM LLC increased its position in Northeast Community Bancorp by 2,966.1% during the first quarter. CWM LLC now owns 1,717 shares of the savings and loans company’s stock worth $40,000 after buying an additional 1,661 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Northeast Community Bancorp by 46.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,459 shares of the savings and loans company’s stock valued at $80,000 after acquiring an additional 1,102 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Northeast Community Bancorp by 973.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 4,477 shares of the savings and loans company’s stock valued at $110,000 after acquiring an additional 4,060 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Northeast Community Bancorp by 65.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 5,060 shares of the savings and loans company’s stock valued at $119,000 after acquiring an additional 2,000 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Northeast Community Bancorp by 2,801.8% in the 1st quarter. GAMMA Investing LLC now owns 6,587 shares of the savings and loans company’s stock worth $154,000 after purchasing an additional 6,360 shares during the last quarter. 53.25% of the stock is currently owned by 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.