Connor Clark & Lunn Investment Management Ltd. Acquires 60,863 Shares of Northeast Community Bancorp, Inc. (NASDAQ:NECB)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Northeast Community Bancorp, Inc. (NASDAQ:NECB) by 74.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 142,589 shares of the savings and loans company’s stock after purchasing an additional 60,863 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Northeast Community Bancorp were worth $3,771,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Inspire Investing LLC bought a new stake in shares of Northeast Community Bancorp in the third quarter valued at approximately $2,132,000. LSV Asset Management raised its stake in Northeast Community Bancorp by 41.1% during the 2nd quarter. LSV Asset Management now owns 146,182 shares of the savings and loans company’s stock valued at $2,605,000 after purchasing an additional 42,582 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Northeast Community Bancorp by 20.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 240,261 shares of the savings and loans company’s stock worth $4,281,000 after purchasing an additional 40,775 shares during the last quarter. Sierra Summit Advisors LLC bought a new position in shares of Northeast Community Bancorp during the 2nd quarter worth about $698,000. Finally, Vanguard Group Inc. raised its position in shares of Northeast Community Bancorp by 5.3% during the first quarter. Vanguard Group Inc. now owns 665,792 shares of the savings and loans company’s stock valued at $10,473,000 after buying an additional 33,703 shares during the last quarter. Institutional investors own 53.25% of the company’s stock.

Insider Transactions at Northeast Community Bancorp

In related news, Director John F. Mckenzie sold 1,000 shares of the stock in a transaction dated Friday, November 15th. The shares were 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 owns 11,792 shares of the company’s stock, valued at $340,788.80. This represents a 7.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.70% of the stock is owned by insiders.

Northeast Community Bancorp Stock Up 2.4 %

NASDAQ NECB opened at $30.12 on Friday. Northeast Community Bancorp, Inc. has a twelve month low of $14.26 and a twelve month high of $31.48. The stock has a market cap of $422.31 million, a PE ratio of 8.37 and a beta of 0.59. The firm has a 50-day simple moving average of $26.81 and a 200 day simple moving average of $22.07. 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 (NASDAQ:NECB) last announced its quarterly earnings data on Monday, October 28th. The savings and loans company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.04. The company had revenue of $42.53 million for the quarter, compared to analyst estimates of $26.53 million. Northeast Community Bancorp had a return on equity of 16.63% and a net margin of 30.47%. On average, research analysts forecast 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. Stockholders of record on Friday, October 4th were paid 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 dividend on an annualized basis and a dividend yield of 3.98%. Northeast Community Bancorp’s dividend payout ratio is currently 16.67%.

Northeast Community Bancorp 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, as well as certificates of deposits.