Northeast Community Bancorp (NASDAQ:NECB) Issues Quarterly Earnings Results

Northeast Community Bancorp (NASDAQ:NECB) announced its earnings results on Monday. The savings and loans company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04, Yahoo Finance reports. Northeast Community Bancorp had a net margin of 31.34% and a return on equity of 16.87%. The company had revenue of $42.53 million during the quarter, compared to the consensus estimate of $26.53 million.

Northeast Community Bancorp Stock Performance

NECB traded down $0.36 during mid-day trading on Tuesday, reaching $27.25. The stock had a trading volume of 2,762 shares, compared to its average volume of 51,736. The stock has a market capitalization of $382.05 million, a P/E ratio of 7.98 and a beta of 0.59. Northeast Community Bancorp has a 52 week low of $14.26 and a 52 week high of $28.99. The firm’s fifty day simple moving average is $24.48 and its two-hundred day simple moving average is $20.40.

Northeast Community Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.30 per share. This is an increase from Northeast Community Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, October 4th. This represents a $1.20 annualized dividend and a yield of 4.40%. Northeast Community Bancorp’s dividend payout ratio is currently 17.39%.

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.