Allspring Global Investments Holdings LLC Reduces Stake in Northeast Community Bancorp, Inc. (NASDAQ:NECB)

Allspring Global Investments Holdings LLC reduced its stake in shares of Northeast Community Bancorp, Inc. (NASDAQ:NECB) by 2.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,979 shares of the savings and loans company’s stock after selling 1,787 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Northeast Community Bancorp were worth $1,772,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in shares of Northeast Community Bancorp in the 3rd quarter worth approximately $128,000. Sierra Summit Advisors LLC purchased a new position in Northeast Community Bancorp during the second quarter worth $698,000. Empowered Funds LLC increased its position in Northeast Community Bancorp by 8.1% during the first quarter. Empowered Funds LLC now owns 54,020 shares of the savings and loans company’s stock valued at $850,000 after acquiring an additional 4,025 shares during the last quarter. Bank of New York Mellon Corp increased its position in Northeast Community Bancorp by 9.7% during 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 acquiring an additional 6,169 shares during the last quarter. Finally, LSV Asset Management raised its stake in shares of Northeast Community Bancorp by 1,162.8% in the first quarter. LSV Asset Management now owns 103,600 shares of the savings and loans company’s stock valued at $1,630,000 after acquiring an additional 95,396 shares during the period. 53.25% of the stock is currently owned by hedge funds and other institutional investors.

Northeast Community Bancorp Trading Down 0.5 %

NECB stock opened at $26.82 on Thursday. The stock has a market cap of $376.04 million, a PE ratio of 7.45 and a beta of 0.59. Northeast Community Bancorp, Inc. has a 12 month low of $14.26 and a 12 month high of $28.99. The company has a 50-day moving average price of $24.68 and a 200 day moving average price of $20.53.

Northeast Community Bancorp (NASDAQ:NECB) last announced its earnings results on Monday, October 28th. The savings and loans company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.04. The business had revenue of $42.53 million during the quarter, compared to analyst estimates of $26.53 million. Northeast Community Bancorp had a return on equity of 16.87% and a net margin of 31.34%. Sell-side 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 will be paid on Wednesday, November 6th. Shareholders of record on Friday, October 4th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.47%. The ex-dividend date is Friday, October 4th. This is an increase from Northeast Community Bancorp’s previous quarterly dividend of $0.10. Northeast Community Bancorp’s dividend payout ratio is 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.