Northeast Community Bancorp said on March 28, 2023 that its board of directors declared a regular quarterly dividend of $0.06 per share ($0.24 annualized). Previously, the company paid $0.06 per share.
Shares must be purchased before the ex-div date of April 10, 2023 to qualify for the dividend. Shareholders of record as of April 11, 2023 will receive the payment on May 8, 2023.
At the current share price of $12.89 / share, the stock's dividend yield is 1.86%. Looking back five years and taking a sample every week, the average dividend yield has been 1.19%, the lowest has been 0.54%, and the highest has been 2.39%. The standard deviation of yields is 0.59 (n=236).
The current dividend yield is 1.15 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.14. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 1.68%, demonstrating that it has increased its dividend over time.
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Analyst Price Forecast Suggests 26.61% Upside
As of March 29, 2023, the average one-year price target for Northeast Community Bancorp is $16.32. The forecasts range from a low of $16.16 to a high of $16.80. The average price target represents an increase of 26.61% from its latest reported closing price of $12.89.
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The projected annual revenue for Northeast Community Bancorp is $76MM, an increase of 16.18%. The projected annual non-GAAP EPS is $1.83.
What is the Fund Sentiment?
There are 91 funds or institutions reporting positions in Northeast Community Bancorp. This is an increase of 16 owner(s) or 21.33% in the last quarter. Average portfolio weight of all funds dedicated to NECB is 0.20%, an increase of 0.05%. Total shares owned by institutions increased in the last three months by 17.09% to 5,705K shares. The put/call ratio of NECB is 0.13, indicating a bullish outlook.
What are Large Shareholders Doing?
M3F holds 1,547K shares representing 10.49% ownership of the company. In it's prior filing, the firm reported owning 1,572K shares, representing a decrease of 1.62%. The firm increased its portfolio allocation in NECB by 3.23% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 504K shares representing 3.42% ownership of the company. In it's prior filing, the firm reported owning 405K shares, representing an increase of 19.55%. The firm increased its portfolio allocation in NECB by 38.11% over the last quarter.
Hennessy Advisors holds 255K shares representing 1.73% ownership of the company. In it's prior filing, the firm reported owning 260K shares, representing a decrease of 1.96%. The firm increased its portfolio allocation in NECB by 12.20% over the last quarter.
HSFNX - Hennessy Small Cap Financial Fund Investor Class holds 255K shares representing 1.73% ownership of the company. In it's prior filing, the firm reported owning 260K shares, representing a decrease of 1.96%. The firm increased its portfolio allocation in NECB by 30.29% over the last quarter.
VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 234K shares representing 1.59% ownership of the company. In it's prior filing, the firm reported owning 158K shares, representing an increase of 32.40%. The firm increased its portfolio allocation in NECB by 71.52% over the last quarter.
NorthEast Community Bancorp Background Information
(This description is provided by the company.)
NorthEast Community Bancorp, Inc. is the holding company for NorthEast Community Bank. NorthEast Community Bank is a New York State chartered savings bank that operates five full-service branches in New York State and three full-service branches in Massachusetts and loan production offices in White Plains and New City, New York
This story originally appeared on Fintel.
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