Acadian Asset Management LLC Purchases 4,554 Shares of Northeast Community Bancorp, Inc. (NASDAQ:NECB)

Acadian Asset Management LLC lifted its holdings in Northeast Community Bancorp, Inc. (NASDAQ:NECB) by 3.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 155,774 shares of the savings and loans company’s stock after buying an additional 4,554 shares during the period. Acadian Asset Management LLC’s holdings in Northeast Community Bancorp were worth $2,774,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC boosted its stake in Northeast Community Bancorp by 8.1% during the first quarter. Empowered Funds LLC now owns 54,020 shares of the savings and loans company’s stock worth $850,000 after acquiring an additional 4,025 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Northeast Community Bancorp by 9.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 69,992 shares of the savings and loans company’s stock worth $1,247,000 after purchasing an additional 6,169 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Northeast Community Bancorp by 23.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 72,447 shares of the savings and loans company’s stock valued at $1,140,000 after buying an additional 13,773 shares during the period. LSV Asset Management increased its position in Northeast Community Bancorp by 1,162.8% in the 1st quarter. LSV Asset Management now owns 103,600 shares of the savings and loans company’s stock valued at $1,630,000 after buying an additional 95,396 shares in the last quarter. Finally, Stilwell Value LLC raised its stake in Northeast Community Bancorp by 17.9% during the 1st quarter. Stilwell Value LLC now owns 165,000 shares of the savings and loans company’s stock worth $2,595,000 after buying an additional 25,000 shares during the period. 53.25% of the stock is owned by institutional investors and hedge funds.

Northeast Community Bancorp Stock Performance

Shares of Northeast Community Bancorp stock opened at $22.39 on Friday. The stock has a market capitalization of $314.20 million, a PE ratio of 6.93 and a beta of 0.58. Northeast Community Bancorp, Inc. has a 52 week low of $13.93 and a 52 week high of $23.23. The stock has a 50 day moving average price of $21.52 and a two-hundred day moving average price of $18.10.

Northeast Community Bancorp (NASDAQ:NECB) last posted its quarterly earnings results on Monday, July 22nd. The savings and loans company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.25. Northeast Community Bancorp had a net margin of 31.34% and a return on equity of 16.87%. The business had revenue of $40.97 million during the quarter, compared to the consensus estimate of $24.69 million. Research analysts forecast that Northeast Community Bancorp, Inc. will post 2.94 EPS for the current year.

Northeast Community Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, July 5th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Friday, July 5th. Northeast Community Bancorp’s payout ratio is presently 12.38%.

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.