JPMorgan Chase & Co. Grows Position in Northeast Community Bancorp, Inc. (NASDAQ:NECB)

JPMorgan Chase & Co. lifted its stake in shares of Northeast Community Bancorp, Inc. (NASDAQ:NECB - Free Report) by 223.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,718 shares of the savings and loans company's stock after purchasing an additional 45,403 shares during the period. JPMorgan Chase & Co. owned 0.47% of Northeast Community Bancorp worth $1,607,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Quartz Partners LLC bought a new position in Northeast Community Bancorp in the 4th quarter worth approximately $2,205,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Northeast Community Bancorp by 16.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 166,113 shares of the savings and loans company's stock worth $4,063,000 after buying an additional 23,524 shares during the period. State Street Corp boosted its holdings in Northeast Community Bancorp by 10.4% in the 3rd quarter. State Street Corp now owns 233,424 shares of the savings and loans company's stock worth $6,174,000 after buying an additional 21,973 shares during the period. LPL Financial LLC bought a new position in Northeast Community Bancorp in the 4th quarter valued at $479,000. Finally, Prudential Financial Inc. boosted its holdings in Northeast Community Bancorp by 248.6% in the 4th quarter. Prudential Financial Inc. now owns 27,205 shares of the savings and loans company's stock valued at $665,000 after purchasing an additional 19,400 shares during the period. Hedge funds and other institutional investors own 53.25% of the company's stock.

Northeast Community Bancorp Price Performance

NASDAQ:NECB traded up $0.26 during trading hours on Monday, hitting $22.94. The stock had a trading volume of 50,099 shares, compared to its average volume of 58,617. The company has a 50 day simple moving average of $22.47 and a two-hundred day simple moving average of $25.15. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.14 and a quick ratio of 1.14. Northeast Community Bancorp, Inc. has a one year low of $15.68 and a one year high of $31.72. The firm has a market capitalization of $321.69 million, a price-to-earnings ratio of 6.41 and a beta of 0.42.

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) last announced its earnings results on Monday, April 21st. The savings and loans company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.01. Northeast Community Bancorp had a net margin of 29.36% and a return on equity of 15.96%. The company had revenue of $25.26 million during the quarter, compared to analyst estimates of $25.49 million. Research analysts forecast that Northeast Community Bancorp, Inc. will post 3.04 earnings per share for the current fiscal year.

Northeast Community Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Monday, April 7th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, April 7th. This is an increase from Northeast Community Bancorp's previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a yield of 3.49%. Northeast Community Bancorp's payout ratio is currently 22.86%.

About Northeast Community Bancorp

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.