Northeast Community Bancorp, Inc. (NASDAQ:NECB) Sees Large Decline in Short Interest

Northeast Community Bancorp, Inc. (NASDAQ:NECB - Get Free Report) saw a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 130,800 shares, a drop of 21.6% from the October 15th total of 166,800 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average daily trading volume, of 70,000 shares, the days-to-cover ratio is presently 1.9 days.

Northeast Community Bancorp Stock Performance

NASDAQ NECB traded up $0.03 on Friday, reaching $29.08. 54,212 shares of the stock were exchanged, compared to its average volume of 53,671. The company's 50-day simple moving average is $26.06 and its two-hundred day simple moving average is $21.57. The company has a current ratio of 1.14, a quick ratio of 1.13 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $407.70 million, a PE ratio of 8.08 and a beta of 0.59. Northeast Community Bancorp has a one year low of $14.26 and a one year high of $31.48.

Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The savings and loans company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.04. Northeast Community Bancorp had a return on equity of 16.63% and a net margin of 30.47%. The company had revenue of $42.53 million during the quarter, compared to analyst estimates of $26.53 million. Analysts expect that Northeast Community Bancorp will post 3.61 EPS for the current fiscal year.

Northeast Community Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Friday, October 4th were given a dividend of $0.30 per share. The ex-dividend date was Friday, October 4th. This represents a $1.20 annualized dividend and a dividend yield of 4.13%. This is an increase from Northeast Community Bancorp's previous quarterly dividend of $0.10. Northeast Community Bancorp's payout ratio is currently 16.67%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Segall Bryant & Hamill LLC grew its position in Northeast Community Bancorp by 1.9% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 91,464 shares of the savings and loans company's stock valued at $2,419,000 after acquiring an additional 1,684 shares during the last quarter. Empowered Funds LLC grew its position in shares of Northeast Community Bancorp by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 61,242 shares of the savings and loans company's stock worth $1,620,000 after buying an additional 3,082 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Northeast Community Bancorp by 33.6% in the third quarter. Jane Street Group LLC now owns 17,046 shares of the savings and loans company's stock valued at $451,000 after acquiring an additional 4,287 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Northeast Community Bancorp by 3.0% during the 2nd quarter. Acadian Asset Management LLC now owns 155,774 shares of the savings and loans company's stock worth $2,774,000 after acquiring an additional 4,554 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Northeast Community Bancorp during the 3rd quarter valued at about $128,000. Institutional investors own 53.25% of the company's stock.

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.

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