NorthEast Community Bancorp, Inc. Declares Quarterly Cash Dividend of $0.15 per Share

NorthEast Community Bancorp, Inc. declared a quarterly dividend of $0.15 per share, payable February 5, 2025.

Quiver AI Summary

NorthEast Community Bancorp, Inc. announced a quarterly cash dividend of $0.15 per common share, which will be paid on February 5, 2025, to shareholders on record as of January 3, 2025. The company, headquartered in White Plains, New York, operates NorthEast Community Bank with eleven branches across New York and Massachusetts and additional loan production offices. The press release also includes a cautionary note regarding forward-looking statements, highlighting various risks and uncertainties that could impact the company's future results, such as changes in economic conditions, interest rates, and regulatory policies.

Potential Positives

• The declaration of a quarterly cash dividend of $0.15 per common share demonstrates the company's commitment to returning value to its shareholders.
• The upcoming dividend payment is scheduled for February 5, 2025, providing shareholders with clear information on when they can expect to receive the payment.
• By setting a record date for the dividend on January 3, 2025, the company has created a clear timeline for shareholders to plan accordingly.

Potential Negatives

• Declaring a cash dividend may indicate that the company has limited options for investing its profits back into growth, which could raise concerns about future profitability and expansion.
• The extensive caution regarding forward-looking statements highlights a level of uncertainty in the company's performance, potentially undermining investor confidence.
• The mention of various risks, including economic conditions and cyber threats, could signal vulnerabilities in the company's operational stability and financial health.

FAQ

What is the dividend declared by NorthEast Community Bancorp?

NorthEast Community Bancorp has declared a quarterly cash dividend of $0.15 per common share.

When will the dividend be paid to shareholders?

The dividend will be paid on or about February 5, 2025, to shareholders of record as of January 3, 2025.

Where is NorthEast Community Bancorp headquartered?

NorthEast Community Bancorp is headquartered at 325 Hamilton Avenue, White Plains, New York 10601.

How many branch offices does NorthEast Community Bank have?

NorthEast Community Bank operates eleven branch offices across New York and Massachusetts.

Where can I find more information about NorthEast Community Bancorp?

More information can be found on their website at www.necb.com.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$NECB Insider Trading Activity

$NECB insiders have traded $NECB stock on the open market 4 times in the past 6 months. Of those trades, 0 have been purchases and 4 have been sales.

Here’s a breakdown of recent trading of $NECB stock by insiders over the last 6 months:

• DIANE B CAVANAUGH sold 2,000 shares.
• DONALD S HOM (EVP and CFO) sold 3,000 shares.
• CHARLES A MARTINEK sold 1,200 shares.
• JOHN F MCKENZIE sold 1,000 shares.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$NECB Hedge Fund Activity

We have seen 53 institutional investors add shares of $NECB stock to their portfolio, and 35 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

• M3F, INC. removed 264,665 shares (-100.0%) from their portfolio in Q3 2024
• INVESCO LTD. added 132,392 shares (+230.4%) to their portfolio in Q3 2024
• RELATIVE VALUE PARTNERS GROUP, LLC removed 94,500 shares (-100.0%) from their portfolio in Q2 2024
• KOVITZ INVESTMENT GROUP PARTNERS, LLC added 84,500 shares (+inf%) to their portfolio in Q3 2024
• INSPIRE INVESTING, LLC added 80,591 shares (+inf%) to their portfolio in Q3 2024
• ALLIANCEBERNSTEIN L.P. removed 67,860 shares (-34.8%) from their portfolio in Q3 2024
• AMERIPRISE FINANCIAL INC added 67,514 shares (+262.7%) to their portfolio in Q3 2024

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Full Release

WHITE PLAINS, N.Y., Dec. 19, 2024 (GLOBE NEWSWIRE) -- NorthEast Community Bancorp, Inc. (the “Company”) (Nasdaq: NECB) announced today that its Board of Directors has declared a quarterly cash dividend of $0.15 per common share. The dividend will be paid on or about February 5, 2025 to shareholders of record as of the close of business on January 3, 2025.

About NorthEast Community Bancorp, Inc.

NorthEast Community Bancorp, headquartered at 325 Hamilton Avenue, White Plains, New York 10601, is the holding company for NorthEast Community Bank, which conducts business through its eleven branch offices located in Bronx, New York, Orange, Rockland, and Sullivan Counties in New York and Essex, Middlesex, and Norfolk Counties in Massachusetts and three loan production offices located in New City, New York, White Plains, New York, and Danvers, Massachusetts. For more information about NorthEast Community Bancorp and NorthEast Community Bank, please visit

www.necb.com

.

Cautionary Note About Forward-Looking Statements

This press release contains certain forward-looking statements. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” These statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. Factors that could cause actual results to differ materially from expected results include, but are not limited to, changes in market interest rates, regional and national economic conditions (including higher inflation and its impact on regional and national economic conditions), legislative and regulatory changes, monetary and fiscal policies of the United States government, including policies of the United States Treasury and the Federal Reserve Board, the quality and composition of the loan or investment portfolios, demand for loan products, decreases in deposit levels necessitating increased borrowing to fund loans and securities, competition, demand for financial services in NorthEast Community Bank’s market area, changes in the real estate market values in NorthEast Community Bank’s market area, the impact of failures or disruptions in or breaches of the Company’s operational or security systems, data or infrastructure, or those of third parties, including as a result of cyberattacks or campaigns, and changes in relevant accounting principles and guidelines. Additionally, other risks and uncertainties may be described in our annual and quarterly reports filed with the U.S. Securities and Exchange Commission (the “SEC”), which are available through the SEC’s website located at www.sec.gov. These risks and uncertainties should be considered in evaluating any forward-looking statements and undue reliance should not be placed on such statements. Except as required by applicable law or regulation, the Company does not undertake, and specifically disclaims any obligation, to release publicly the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of the statements or to reflect the occurrence of anticipated or unanticipated events.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.