In yesterday’s Wall Street session, Northeast Community Bancorp Inc. (NASDAQ:NECB) shares traded at $15.15, down -0.13% from the previous session.
1 analysts cover Northeast Community Bancorp Inc. (NASDAQ:NECB), according to research data. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $15.50 and a low of $15.50, we find $15.50. Given the previous closing price of $15.17, this indicates a potential upside of 2.18 percent. NECB stock price is now 6.01% away from the 50-day moving average and 20.86% away from the 200-day moving average. The market capitalization of the company currently stands at $240.43M.
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The stock has received a hold rating from 0 analysts and a buy rating from 1. Brokers who have rated the stock have averaged $15.50 as their price target over the next twelve months.
With the price target of $12.50, Piper Sandler recently initiated with Overweight rating for Northeast Community Bancorp Inc. (NASDAQ: NECB). .
In other news, Thomas Kenneth H, Director bought 520 shares of the company’s stock on Nov 02. The stock was bought for $6,989 at an average price of $13.44. Upon completion of the transaction, the Director now directly owns 11,520 shares in the company, valued at $0.17 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 23, Chairman and CEO Martinek Kenneth A bought 4,000 shares of the business’s stock. A total of $43,998 was incurred on buying the stock at an average price of $11.00. This leaves the insider owning 34,000 shares of the company worth $0.52 million. A total of 0.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NECB stock. A new stake in Northeast Community Bancorp Inc. shares was purchased by BRIDGEWAY CAPITAL MANAGEMENT, LLC during the first quarter worth $289,000. CITIGROUP INC invested $58,000 in shares of NECB during the first quarter. In the first quarter, TOWER RESEARCH CAPITAL LLC (TRC) acquired a new stake in Northeast Community Bancorp Inc. valued at approximately $22,000. BARCLAYS PLC acquired a new stake in NECB for approximately $8,000. In total, there are 48 active investors with 27.50% ownership of the company’s stock.
On Tuesday morning Northeast Community Bancorp Inc. (NASDAQ: NECB) stock kicked off with the opening price of $15.20. During the past 12 months, Northeast Community Bancorp Inc. has had a low of $10.67 and a high of $15.33. The fifty day moving average price for NECB is $14.33 and a two-hundred day moving average price translates $12.58 for the stock.
The latest earnings results from Northeast Community Bancorp Inc. (NASDAQ: NECB) was released for Jun, 2022. According to the Banks – Regional Company, earnings per share came in at $0.49, beating analysts’ expectations of $0.37 by 0.12. This compares to $0.05 EPS in the same period last year. The net profit margin was 34.50% and return on equity was 8.10% for NECB. The company reported revenue of $19.38 million for the quarter, compared to $12.09 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 60.3 percent. For the current quarter, analysts expect NECB to generate $19.6M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 02/06/2023. Investors who held shares on 01/03/2023 were paid a $0.06 dividend. On an annualized basis, this represents a $0.24 dividend and a 1.58% percent yield. There was an ex-dividend date of 12/30/2022 for this dividend. In terms of dividend payout ratio, NECB is presently at 17.90%.
Northeast Community Bancorp Inc.(NECB) 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. The company also offers construction, commercial and industrial, multifamily and mixed-use real estate, non-residential real estate loans, and consumer loans. In addition, it invests in various types of liquid assets, including U.S. Treasury obligations, municipal securities, deposits at the Federal Home Loan Bank of New York, and certificates of deposit of federally insured institutions, as well as securities of various federal agencies, and of state and municipal governments. Further, the company offers investment advisory and financial planning services; and life insurance products and fixed-rate annuities. It operates seven full-service branches in New York and three full-service branches in Massachusetts; and loan production offices in White Plains and New City, New York, as well as Danvers, Massachusetts. The company was founded in 1934 and is based in White Plains, New York.
