Quartz Partners LLC Makes New $2.21 Million Investment in Northeast Community Bancorp, Inc. (NASDAQ:NECB)

Quartz Partners LLC acquired a new stake in shares of Northeast Community Bancorp, Inc. (NASDAQ:NECB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 90,150 shares of the savings and loans company’s stock, valued at approximately $2,205,000. Northeast Community Bancorp makes up about 1.3% of Quartz Partners LLC’s investment portfolio, making the stock its 18th largest holding. Quartz Partners LLC owned 0.64% of Northeast Community Bancorp at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NECB. New York State Common Retirement Fund boosted its stake in shares of Northeast Community Bancorp by 45.4% in the fourth quarter. New York State Common Retirement Fund now owns 3,205 shares of the savings and loans company’s stock worth $78,000 after acquiring an additional 1,000 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Northeast Community Bancorp by 11.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 74,391 shares of the savings and loans company’s stock worth $1,820,000 after purchasing an additional 7,412 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Northeast Community Bancorp by 5.0% during the fourth quarter. Empowered Funds LLC now owns 64,317 shares of the savings and loans company’s stock worth $1,573,000 after buying an additional 3,075 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Northeast Community Bancorp by 10.4% in the fourth quarter. SG Americas Securities LLC now owns 5,325 shares of the savings and loans company’s stock valued at $130,000 after buying an additional 500 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB purchased a new position in shares of Northeast Community Bancorp in the fourth quarter worth about $87,000. Institutional investors and hedge funds own 53.25% of the company’s stock.

Northeast Community Bancorp Stock Down 2.1 %

Shares of NASDAQ NECB opened at $23.14 on Monday. The stock has a market cap of $324.42 million, a PE ratio of 6.46 and a beta of 0.67. 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 12-month low of $14.26 and a 12-month high of $31.72. The company has a 50-day moving average of $24.72 and a 200 day moving average of $25.42.

Northeast Community Bancorp (NASDAQ:NECB) last posted its quarterly earnings results on Wednesday, January 29th. The savings and loans company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.02). Northeast Community Bancorp had a net margin of 29.36% and a return on equity of 15.96%. As a group, sell-side analysts predict that Northeast Community Bancorp, Inc. will post 3.04 EPS for the current fiscal year.

Northeast Community Bancorp Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Friday, January 3rd were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date was Friday, January 3rd. Northeast Community Bancorp’s dividend payout ratio (DPR) is presently 16.76%.

Insider Activity

In related news, Director Diane B. Cavanaugh sold 2,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $28.45, for a total value of $56,900.00. Following the completion of the transaction, the director now directly owns 4,712 shares in the company, valued at approximately $134,056.40. This represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles A. Martinek sold 1,200 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 75 shares of the company’s stock, valued at approximately $2,293.50. This trade represents a 94.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,200 shares of company stock valued at $180,866. 4.70% of the stock is currently owned by 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.