JPMorgan Chase & Co. Increases Holdings in Northeast Community Bancorp, Inc. (NASDAQ:NECB)

JPMorgan Chase & Co. increased its position in Northeast Community Bancorp, Inc. (NASDAQ:NECB) by 66.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 20,315 shares of the savings and loans company’s stock after purchasing an additional 8,100 shares during the period. JPMorgan Chase & Co. owned 0.14% of Northeast Community Bancorp worth $537,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in Northeast Community Bancorp during the 3rd quarter worth approximately $128,000. PDT Partners LLC acquired a new stake in shares of Northeast Community Bancorp in the 3rd quarter worth approximately $207,000. Jane Street Group LLC grew its holdings in shares of Northeast Community Bancorp by 33.6% in the 3rd quarter. Jane Street Group LLC now owns 17,046 shares of the savings and loans company’s stock worth $451,000 after acquiring an additional 4,287 shares during the period. Barclays PLC grew its holdings in Northeast Community Bancorp by 290.9% during the 3rd quarter. Barclays PLC now owns 17,875 shares of the savings and loans company’s stock valued at $473,000 after buying an additional 13,302 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in Northeast Community Bancorp by 50.6% during the 3rd quarter. Franklin Resources Inc. now owns 23,156 shares of the savings and loans company’s stock valued at $630,000 after buying an additional 7,785 shares during the last quarter. 53.25% of the stock is owned by hedge funds and other institutional investors.

Northeast Community Bancorp Price Performance

Shares of NASDAQ:NECB opened at $25.58 on Tuesday. The business’s fifty day moving average price is $26.51 and its two-hundred day moving average price is $25.00. The stock has a market cap of $358.63 million, a PE ratio of 7.11 and a beta of 0.67. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.14 and a current ratio of 1.14. Northeast Community Bancorp, Inc. has a one year low of $14.26 and a one year high of $31.72.

Northeast Community Bancorp (NASDAQ:NECB) last announced its earnings results on Monday, October 28th. The savings and loans company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. The firm had revenue of $42.53 million for 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%. On average, analysts forecast that Northeast Community Bancorp, Inc. will post 3.57 EPS for the current fiscal year.

Northeast Community Bancorp Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, January 3rd. Northeast Community Bancorp’s dividend payout ratio is presently 16.67%.

Insiders Place Their Bets

In related news, CFO Donald S. Hom sold 3,000 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $29.09, for a total value of $87,270.00. Following the transaction, the chief financial officer now directly owns 8,759 shares of the company’s stock, valued at approximately $254,799.31. This trade represents a 25.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John F. Mckenzie sold 1,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $28.90, for a total value of $28,900.00. Following the completion of the transaction, the director now directly owns 11,792 shares in the company, valued at $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 have sold a total of 7,200 shares of company stock valued at $209,766 in the last quarter. 4.70% of the stock is currently 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.