Northeast Community Bancorp, Inc. (NASDAQ:NECB) Declares Quarterly Dividend of $0.15

Northeast Community Bancorp, Inc. (NASDAQ:NECB - Get Free Report) announced a quarterly dividend on Thursday, December 19th,RTT News reports. Stockholders of record on Friday, January 3rd will be given a dividend of 0.15 per share by the savings and loans company on Wednesday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.44%.

Northeast Community Bancorp has increased its dividend payment by an average of 17.2% per year over the last three years. Northeast Community Bancorp has a dividend payout ratio of 20.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Northeast Community Bancorp to earn $2.99 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 20.1%.

Northeast Community Bancorp Price Performance

NASDAQ:NECB traded down $1.08 during trading hours on Thursday, reaching $24.55. 229,318 shares of the company were exchanged, compared to its average volume of 54,617. The business has a 50 day moving average of $28.32 and a 200 day moving average of $23.53. Northeast Community Bancorp has a 1-year low of $14.26 and a 1-year high of $31.72. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market capitalization of $344.19 million, a P/E ratio of 6.82 and a beta of 0.63.

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The savings and loans company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.04. The business had revenue of $42.53 million during the quarter, compared to analysts' expectations of $26.53 million. Northeast Community Bancorp had a net margin of 30.47% and a return on equity of 16.63%. Research analysts forecast that Northeast Community Bancorp will post 3.61 EPS for the current year.

Insider Activity

In other news, CFO Donald S. Hom sold 3,000 shares of the business's stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $29.09, for a total transaction of $87,270.00. Following the sale, the chief financial officer now directly owns 8,759 shares in the company, valued at approximately $254,799.31. The trade was a 25.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John F. Mckenzie sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $28.90, for a total transaction of $28,900.00. Following the completion of the transaction, the director now owns 11,792 shares of the company's stock, valued at approximately $340,788.80. This trade represents a 7.82 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,200 shares of company stock worth $209,766. Corporate insiders own 4.70% of the company's stock.

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.

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