Northeast Community Bancorp (NASDAQ:NECB) Announces Earnings Results, Misses Expectations By $0.02 EPS

Northeast Community Bancorp (NASDAQ:NECB) announced its earnings results on Wednesday. The savings and loans company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.02), Zacks reports. Northeast Community Bancorp had a net margin of 30.47% and a return on equity of 16.63%.

Northeast Community Bancorp Trading Down 0.8 %

Shares of NECB traded down $0.21 during trading hours on Wednesday, hitting $25.51. 34,395 shares of the stock traded hands, compared to its average volume of 73,541. The business has a fifty day moving average of $26.43 and a 200-day moving average of $25.05. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $357.58 million, a PE ratio of 7.08 and a beta of 0.67. Northeast Community Bancorp has a 1-year low of $14.26 and a 1-year high of $31.72.

Northeast Community Bancorp Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Friday, January 3rd will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, January 3rd. Northeast Community Bancorp’s dividend payout ratio is currently 16.67%.

Insiders Place Their Bets

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

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.