Martingale Asset Management L P Acquires 5,600 Shares of Northeast Community Bancorp, Inc. (NASDAQ:NECB)

Martingale Asset Management L P grew its stake in Northeast Community Bancorp, Inc. (NASDAQ:NECB) by 20.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,620 shares of the savings and loans company’s stock after buying an additional 5,600 shares during the quarter. Martingale Asset Management L P owned 0.23% of Northeast Community Bancorp worth $863,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in Northeast Community Bancorp in the 3rd quarter valued at $128,000. Sierra Summit Advisors LLC acquired a new stake in shares of Northeast Community Bancorp in the 2nd quarter valued at about $698,000. Bank of New York Mellon Corp lifted its holdings in shares of 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 in the last quarter. Empowered Funds LLC boosted its position in shares of Northeast Community Bancorp by 5.3% during the third quarter. Empowered Funds LLC now owns 61,242 shares of the savings and loans company’s stock worth $1,620,000 after buying an additional 3,082 shares during the period. Finally, Inspire Investing LLC bought a new position in shares of Northeast Community Bancorp during the third quarter worth about $2,132,000. Institutional investors and hedge funds own 53.25% of the company’s stock.

Insider Activity

In other news, Director Charles A. Martinek sold 1,200 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $30.58, for a total value of $36,696.00. Following the completion of the sale, the director now owns 75 shares of the company’s stock, valued at approximately $2,293.50. This represents a 94.12 % decrease in their position. The transaction 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 firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $28.90, for a total transaction of $28,900.00. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. 4.70% of the stock is owned by corporate insiders.

Northeast Community Bancorp Stock Down 3.4 %

Shares of Northeast Community Bancorp stock opened at $29.12 on Tuesday. Northeast Community Bancorp, Inc. has a 52-week low of $14.26 and a 52-week high of $31.72. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.14 and a current ratio of 1.14. The business’s 50 day simple moving average is $27.55 and its 200 day simple moving average is $22.57. The firm has a market cap of $408.29 million, a PE ratio of 8.09 and a beta of 0.59.

Northeast Community Bancorp (NASDAQ:NECB) last announced its quarterly earnings data on Monday, October 28th. The savings and loans company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. The business had revenue of $42.53 million for the quarter, compared to analyst estimates of $26.53 million. Northeast Community Bancorp had a net margin of 30.47% and a return on equity of 16.63%. On average, analysts predict that Northeast Community Bancorp, Inc. will post 3.61 earnings per share for the current fiscal 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 dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.12%. This is an increase from Northeast Community Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, October 4th. Northeast Community Bancorp’s dividend payout ratio is currently 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.