Hennessy Advisors Inc. Sells 25,000 Shares of Northeast Community Bancorp, Inc. (NASDAQ:NECB)

Hennessy Advisors Inc. trimmed its holdings in shares of Northeast Community Bancorp, Inc. (NASDAQ:NECB) by 27.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 65,000 shares of the savings and loans company’s stock after selling 25,000 shares during the period. Hennessy Advisors Inc. owned approximately 0.46% of Northeast Community Bancorp worth $1,022,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in shares of Northeast Community Bancorp by 42.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 58,674 shares of the savings and loans company’s stock worth $1,041,000 after purchasing an additional 17,538 shares in the last quarter. LSV Asset Management acquired a new stake in shares of Northeast Community Bancorp during the 4th quarter worth about $146,000. SG Americas Securities LLC acquired a new stake in shares of Northeast Community Bancorp during the 4th quarter worth about $123,000. Strs Ohio acquired a new stake in shares of Northeast Community Bancorp during the 4th quarter worth about $65,000. Finally, AJOVista LLC acquired a new stake in shares of Northeast Community Bancorp during the 4th quarter worth about $43,000. 53.25% of the stock is owned by institutional investors.

Northeast Community Bancorp Stock Up 2.3 %

Shares of Northeast Community Bancorp stock opened at $17.82 on Friday. The stock has a market capitalization of $250.01 million, a P/E ratio of 5.52 and a beta of 0.57. The company has a 50-day simple moving average of $16.84 and a 200 day simple moving average of $16.48. Northeast Community Bancorp, Inc. has a 12-month low of $13.93 and a 12-month high of $18.00.

Northeast Community Bancorp (NASDAQ:NECB) last announced its earnings results on Thursday, April 25th. The savings and loans company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.14. The business had revenue of $25.54 million during the quarter, compared to analysts’ expectations of $25.72 million. Northeast Community Bancorp had a net margin of 31.94% and a return on equity of 16.72%. On average, equities analysts anticipate that Northeast Community Bancorp, Inc. will post 2.94 earnings per share for the current year.

Northeast Community Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 6th. Shareholders of record on Friday, July 5th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Friday, July 5th. Northeast Community Bancorp’s payout ratio is presently 12.38%.

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.