State Street Corp Acquires 21,973 Shares of Northeast Community Bancorp, Inc. (NASDAQ:NECB)

State Street Corp increased its position in Northeast Community Bancorp, Inc. (NASDAQ:NECB) by 10.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 233,424 shares of the savings and loans company’s stock after buying an additional 21,973 shares during the period. State Street Corp’s holdings in Northeast Community Bancorp were worth $6,174,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NECB. SG Americas Securities LLC bought a new position in shares of Northeast Community Bancorp during the third quarter valued at about $128,000. PDT Partners LLC purchased a new position in Northeast Community Bancorp in the 3rd quarter valued at approximately $207,000. Sierra Summit Advisors LLC purchased a new position in Northeast Community Bancorp during the 2nd quarter valued at about $698,000. Martingale Asset Management L P lifted its stake in Northeast Community Bancorp by 20.7% in the 3rd quarter. Martingale Asset Management L P now owns 32,620 shares of the savings and loans company’s stock worth $863,000 after purchasing an additional 5,600 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Northeast Community Bancorp by 9.7% in 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 acquiring an additional 6,169 shares during the last quarter. 53.25% of the stock is owned by institutional investors and hedge funds.

Northeast Community Bancorp Stock Performance

Northeast Community Bancorp stock opened at $24.77 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market cap of $347.30 million, a P/E ratio of 6.88 and a beta of 0.63. The firm’s fifty day moving average price is $27.99 and its 200-day moving average price is $23.86. Northeast Community Bancorp, Inc. has a fifty-two week low of $14.26 and a fifty-two week high of $31.72.

Northeast Community Bancorp (NASDAQ:NECB) last issued its earnings results on Monday, October 28th. The savings and loans company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.04. Northeast Community Bancorp had a net margin of 30.47% and a return on equity of 16.63%. The firm had revenue of $42.53 million for the quarter, compared to analysts’ expectations of $26.53 million. On average, equities research analysts expect that Northeast Community Bancorp, Inc. will post 3.61 earnings per share for the current fiscal year.

Northeast Community Bancorp Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Friday, January 3rd will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Friday, January 3rd. Northeast Community Bancorp’s dividend payout ratio is currently 16.67%.

Insider Activity

In related news, Director Charles A. Martinek sold 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $30.58, for a total value of $36,696.00. Following the sale, the director now owns 75 shares in the company, valued at $2,293.50. This represents a 94.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Diane B. Cavanaugh sold 2,000 shares of Northeast Community Bancorp stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $28.45, for a total value of $56,900.00. Following the transaction, the director now owns 4,712 shares of the company’s stock, valued at $134,056.40. The trade was a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,200 shares of company stock worth $209,766 in the last quarter. 4.70% of the stock is owned by company insiders.

Northeast Community Bancorp 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.