Quartz Partners LLC Buys New Stake in Northeast Community Bancorp, Inc. (NASDAQ:NECB)

Quartz Partners LLC purchased a new position in shares of Northeast Community Bancorp, Inc. (NASDAQ:NECB) during the fourth quarter, Holdings Channel reports. The fund purchased 90,150 shares of the savings and loans company’s stock, valued at approximately $2,205,000. Northeast Community Bancorp accounts for approximately 1.3% of Quartz Partners LLC’s portfolio, making the stock its 18th biggest holding.

Several other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp increased its stake in Northeast Community Bancorp by 10.4% during the 3rd quarter. State Street Corp now owns 233,424 shares of the savings and loans company’s stock worth $6,174,000 after buying an additional 21,973 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Northeast Community Bancorp by 74.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 142,589 shares of the savings and loans company’s stock worth $3,771,000 after acquiring an additional 60,863 shares in the last quarter. Segall Bryant & Hamill LLC increased its position in shares of Northeast Community Bancorp by 1.9% during the third quarter. Segall Bryant & Hamill LLC now owns 91,464 shares of the savings and loans company’s stock worth $2,419,000 after acquiring an additional 1,684 shares during the period. Kovitz Investment Group Partners LLC acquired a new stake in shares of Northeast Community Bancorp in the third quarter valued at $2,235,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Northeast Community Bancorp by 11.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 74,391 shares of the savings and loans company’s stock valued at $1,820,000 after acquiring an additional 7,412 shares in the last quarter. 53.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Donald S. Hom sold 3,000 shares of the company’s 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 transaction, the chief financial officer now directly owns 8,759 shares of the company’s stock, valued at approximately $254,799.31. This represents a 25.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles A. Martinek sold 1,200 shares of the firm’s stock in a transaction dated 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 in the company, valued at $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 three months, insiders have sold 6,200 shares of company stock worth $180,866. 4.70% of the stock is currently owned by corporate insiders.

Northeast Community Bancorp Trading Down 2.1 %

NECB opened at $23.14 on Monday. The business has a fifty day moving average price of $24.72 and a 200 day moving average price of $25.42. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.14 and a quick ratio of 1.14. Northeast Community Bancorp, Inc. has a 12 month low of $14.26 and a 12 month high of $31.72. The stock has a market capitalization of $324.42 million, a price-to-earnings ratio of 6.46 and a beta of 0.67.

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

Northeast Community Bancorp Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Friday, January 3rd were given 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 of this dividend was Friday, January 3rd. Northeast Community Bancorp’s dividend payout ratio is presently 16.76%.

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.