Allianz Asset Management GmbH Buys New Position in Northeast Community Bancorp Inc. $NECB

Allianz Asset Management GmbH bought a new stake in shares of Northeast Community Bancorp Inc. (NASDAQ:NECB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 15,615 shares of the savings and loans company’s stock, valued at approximately $363,000. Allianz Asset Management GmbH owned about 0.11% of Northeast Community Bancorp as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NECB. CWM LLC raised its stake in shares of Northeast Community Bancorp by 2,966.1% during the 1st quarter. CWM LLC now owns 1,717 shares of the savings and loans company’s stock valued at $40,000 after purchasing an additional 1,661 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Northeast Community Bancorp by 65.4% during 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 during the period. EP Wealth Advisors LLC purchased a new stake in Northeast Community Bancorp during the 1st quarter valued at about $242,000. Benjamin Edwards Inc. bought a new position in Northeast Community Bancorp during the 1st quarter valued at approximately $384,000. Finally, Cubist Systematic Strategies LLC raised its position in Northeast Community Bancorp by 29.6% during the 1st quarter. Cubist Systematic Strategies LLC now owns 16,520 shares of the savings and loans company’s stock valued at $387,000 after purchasing an additional 3,774 shares during the last quarter. Hedge funds and other institutional investors own 53.25% of the company’s stock.

Northeast Community Bancorp Stock Performance

Shares of NECB opened at $20.37 on Wednesday. The business’s fifty day simple moving average is $21.12 and its two-hundred day simple moving average is $22.10. 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 Inc. has a 12 month low of $19.41 and a 12 month high of $31.72. The company has a market cap of $285.79 million, a price-to-earnings ratio of 6.23 and a beta of 0.53.

Northeast Community Bancorp (NASDAQ:NECB) last issued its earnings results on Thursday, October 23rd. The savings and loans company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.84 by $0.03. Northeast Community Bancorp had a return on equity of 13.60% and a net margin of 27.97%.The business had revenue of $26.95 million for the quarter, compared to the consensus estimate of $26.80 million. Research analysts anticipate that Northeast Community Bancorp Inc. will post 3.04 earnings per share for the current fiscal year.

Northeast Community Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 3rd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, October 3rd. Northeast Community Bancorp’s dividend payout ratio (DPR) is currently 24.46%.

Analyst Ratings Changes

Several research analysts have recently issued reports on NECB shares. Zacks Research raised Northeast Community Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Weiss Ratings lowered Northeast Community Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

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.