Hennessy Advisors Inc. Sells 25,000 Shares of Northeast Community Bancorp, Inc. (NASDAQ:NECB)

Hennessy Advisors Inc. reduced its stake in shares of Northeast Community Bancorp, Inc. (NASDAQ:NECB - Free Report) by 41.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,000 shares of the savings and loans company's stock after selling 25,000 shares during the period. Hennessy Advisors Inc. owned 0.25% of Northeast Community Bancorp worth $856,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NECB. SG Americas Securities LLC bought a new stake in Northeast Community Bancorp during the third quarter valued at $128,000. PDT Partners LLC acquired a new position in Northeast Community Bancorp in the third quarter valued at approximately $207,000. Jane Street Group LLC grew its position in shares of Northeast Community Bancorp by 33.6% during the 3rd 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 during the period. Barclays PLC increased its stake in shares of 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 valued at $473,000 after acquiring an additional 13,302 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Northeast Community Bancorp by 66.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 20,315 shares of the savings and loans company's stock worth $537,000 after purchasing an additional 8,100 shares in the last quarter. 53.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Donald S. Hom sold 3,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $29.09, for a total transaction of $87,270.00. Following the completion of the transaction, the chief financial officer now directly owns 8,759 shares of the company's stock, valued at $254,799.31. This represents a 25.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles A. Martinek sold 1,200 shares of Northeast Community Bancorp stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.58, for a total transaction of $36,696.00. Following the completion of the transaction, the director now owns 75 shares of the company's stock, valued at $2,293.50. The trade was a 94.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,200 shares of company stock worth $209,766 over the last 90 days. 4.70% of the stock is currently owned by corporate insiders.

Northeast Community Bancorp Stock Down 0.9 %

NECB stock traded down $0.23 during trading on Friday, reaching $25.09. 49,740 shares of the stock were exchanged, compared to its average volume of 77,389. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.02. Northeast Community Bancorp, Inc. has a twelve month low of $14.26 and a twelve month high of $31.72. The firm's 50 day moving average is $27.04 and its 200 day moving average is $24.70. The firm has a market cap of $351.76 million, a P/E ratio of 6.97 and a beta of 0.67.

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) last posted its quarterly earnings results on Monday, October 28th. The savings and loans company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.04. The business had revenue of $42.53 million during the quarter, compared to the consensus estimate of $26.53 million. Northeast Community Bancorp had a net margin of 30.47% and a return on equity of 16.63%. As a group, research analysts forecast that Northeast Community Bancorp, Inc. will post 3.57 EPS for the current year.

Northeast Community Bancorp Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Friday, January 3rd will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Friday, January 3rd. Northeast Community Bancorp's dividend payout ratio (DPR) is presently 16.67%.

Northeast Community Bancorp 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.