Charles Schwab Investment Management Inc. Reduces Stock Position in Northeast Community Bancorp, Inc. (NASDAQ:NECB)

Charles Schwab Investment Management Inc. trimmed its position in Northeast Community Bancorp, Inc. (NASDAQ:NECB) by 4.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,619 shares of the savings and loans company’s stock after selling 1,612 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.25% of Northeast Community Bancorp worth $916,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NECB. SG Americas Securities LLC purchased a new position in shares of Northeast Community Bancorp during the third quarter worth $128,000. Sierra Summit Advisors LLC purchased a new position in shares of Northeast Community Bancorp in the 2nd quarter valued at about $698,000. Bank of New York Mellon Corp increased its stake in Northeast Community Bancorp by 9.7% in the second quarter. Bank of New York Mellon Corp now owns 69,992 shares of the savings and loans company’s stock valued at $1,247,000 after purchasing an additional 6,169 shares during the last quarter. Empowered Funds LLC raised its stake in Northeast Community Bancorp by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 61,242 shares of the savings and loans company’s stock worth $1,620,000 after acquiring an additional 3,082 shares in the last quarter. Finally, Inspire Investing LLC purchased a new stake in shares of Northeast Community Bancorp in the 3rd quarter valued at about $2,132,000. Hedge funds and other institutional investors own 53.25% of the company’s stock.

Insider Activity

In related news, CFO Donald S. Hom sold 3,000 shares of Northeast Community Bancorp stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $29.09, for a total transaction of $87,270.00. Following the completion of the sale, the chief financial officer now owns 8,759 shares in the company, valued at approximately $254,799.31. This trade represents a 25.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John F. Mckenzie sold 1,000 shares of Northeast Community Bancorp stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $28.90, for a total transaction of $28,900.00. Following the sale, the director now owns 11,792 shares of the company’s stock, valued at approximately $340,788.80. This trade represents a 7.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,200 shares of company stock worth $209,766 in the last 90 days. 4.70% of the stock is currently owned by corporate insiders.

Northeast Community Bancorp Price Performance

NECB stock opened at $27.06 on Wednesday. The company has a market capitalization of $379.41 million, a P/E ratio of 7.52 and a beta of 0.63. The business has a 50 day simple moving average of $28.33 and a 200-day simple moving average of $23.51. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.02. Northeast Community Bancorp, Inc. has a twelve month low of $14.26 and a twelve month high of $31.72.

Northeast Community Bancorp (NASDAQ:NECB) last posted its quarterly earnings data on Monday, October 28th. The savings and loans company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. The company had revenue of $42.53 million during the quarter, compared to analysts’ expectations of $26.53 million. Northeast Community Bancorp had a return on equity of 16.63% and a net margin of 30.47%. As a group, equities analysts anticipate that Northeast Community Bancorp, Inc. will post 3.61 EPS for the current year.

Northeast Community Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Friday, October 4th were given a $0.30 dividend. This is a boost from Northeast Community Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date was Friday, October 4th. This represents a $1.20 annualized dividend and a yield of 4.43%. Northeast Community Bancorp’s dividend payout ratio is presently 16.67%.

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.