The market expects Northeast Community Bancorp (NECB) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The earnings report might help the stock move higher if these key numbers are better than expectations. On the ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Whi ...

Core Viewpoint - Northeast Community Bancorp (NECB) shares have shown significant upward momentum, driven by favorable market conditions and positive earnings expectations Group 1: Stock Performance - NECB shares increased by 6.6% in the last trading session, closing at $27.30, with notable trading volume [1] - The stock has gained 17% over the past four weeks and reached a new 52-week high of $27.42 [2] Group 2: Market Conditions - The banking sector is benefiting from clarity on the Federal Reserve's monetary policy, particularly with interest rate cuts expected to improve loan demand and reduce deposit costs [2] - Positive investor sentiment is contributing to the rise in NECB stock [2] Group 3: Earnings Expectations - The upcoming quarterly earnings report for NECB is expected to show earnings of $0.91 per share, reflecting a year-over-year increase of 13.8% [3] - Revenues are projected to be $26.53 million, up 4.7% from the previous year [3] Group 4: Earnings Estimate Revisions - The consensus EPS estimate for NECB has been revised 29.9% higher in the last 30 days, indicating a positive trend that typically correlates with stock price appreciation [4] - The stock currently holds a Zacks Rank of 1 (Strong Buy), suggesting strong market confidence [4] Group 5: Industry Comparison - Valley National (VLY), another bank in the same industry, saw a 4.4% increase in its stock price, closing at $9.25, with an 8.6% return over the past month [4] - VLY's consensus EPS estimate has decreased by 0.9% over the past month, indicating a year-over-year decline of 30.8% [5]

Exhibit 99.1 NECB Earnings Press Release for 06/30/2024: NORTHEAST COMMUNITY BANCORP, INC. REPORTS RESULTS FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2024 White Plains, New York, July 22, 2024 – NorthEast Community Bancorp, Inc. (Nasdaq: NECB) (the "Company"), the parent holding company of NorthEast Community Bank (the "Bank"), generated net income of $12.8 million, or $0.98 per basic share and $0.97 per diluted share, for the three months ended June 30, 2024 compared to net income of $11.1 million, or $0. ...

What's Driving the Outperformance? For the current fiscal year, Northeast Community Bancorp is expected to post earnings of $2.94 per share on $99.23 million in revenues. This represents a -11.45% change in EPS on a -1.69% change in revenues. For the next fiscal year, the company is expected to earn $2.71 per share on $100.97 million in revenues. This represents a year-over-year change of -7.82% and 1.75%, respectively. Northeast Community Bancorp may be at a 52-week high right now, but what might the futur ...

Core Viewpoint - NorthEast Community Bancorp, Inc. reported strong financial performance for the three and six months ended June 30, 2024, with significant increases in net income and total assets despite a challenging interest rate environment. Financial Performance - Net income for the three months ended June 30, 2024, was $12.8 million, or $0.98 per basic share, compared to $11.1 million, or $0.75 per basic share, for the same period in 2023 [2] - For the six months ended June 30, 2024, net income was $24.2 million, or $1.84 per basic share, compared to $22.3 million, or $1.56 per basic share, for the same period in 2023 [2] Asset Growth - Total assets increased by $166.1 million, or 9.4%, to $1.9 billion at June 30, 2024, from $1.8 billion at December 31, 2023, primarily due to a $121.5 million increase in net loans and a $45.2 million increase in cash and cash equivalents [3] - Cash and cash equivalents rose by $45.2 million, or 65.8%, to $113.9 million at June 30, 2024, driven by an increase in deposits of $163.8 million [29] Loan Portfolio - Loans, net of the allowance for credit losses, increased by $121.5 million, or 7.7%, to $1.7 billion at June 30, 2024, with loan originations totaling $364.7 million during the six months ended June 30, 2024 [30] - The increase in the loan portfolio included $323.8 million in construction loans, with approximately 34.0% of the funds disbursed at loan closings [30] Interest Income and Expense - Total interest and dividend income increased by $8.5 million, or 26.9%, to $40.2 million for the three months ended June 30, 2024, compared to $31.7 million for the same period in 2023 [14] - Interest expense rose by $13.8 million, or 103.1%, to $27.2 million for the six months ended June 30, 2024, due to an increase in the cost of interest-bearing liabilities [23] Credit Losses - The allowance for credit losses related to loans decreased to $4.9 million as of June 30, 2024, from $5.1 million as of December 31, 2023, representing 0.29% of total loans [31][78] - The company recorded a credit loss expense reduction of $226,000 for the three months ended June 30, 2024, compared to a credit loss expense of $610,000 for the same period in 2023 [16] Non-Interest Income and Expenses - Non-interest income for the three months ended June 30, 2024, was $731,000, down from $1.0 million for the same period in 2023, primarily due to decreases in BOLI income and investment advisory fees [18] - Non-interest expense increased by $617,000, or 6.9%, to $9.5 million for the three months ended June 30, 2024, driven by higher salaries and employee benefits [46] Capital Position - Stockholders' equity increased by $20.7 million, or 7.4%, to $300.0 million at June 30, 2024, from $279.3 million at December 31, 2023 [12] - The company's total stockholders' equity to assets ratio was 15.54% as of June 30, 2024, indicating a strong capital position relative to regulatory requirements [56][79]

The market expects Northeast Community Bancorp (NECB) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The earnings report might help the stock move higher if these key numbers are better than expectations. On the other h ...

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WHITE PLAINS, N.Y., June 20, 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 $0.10 per common share. The dividend will be paid on or about August 6, 2024 to shareholders of record as of the close of business on July 5, 2024. This press release contains certain forward-looking statements. Forward-looking statements include statements regarding anticipated future events and can be ide ...

Fly View ProductionsFor over a year now, I have been familiarizing myself with many of the financial institutions out there. Most of my emphasis has been on small to medium sized banks. Few of them have had market capitalizations exceeding $10 billion. And many have been $2 billion in size or less. But one of the smallest has got to be Northeast Community Bancorp (NASDAQ:NECB), a firm with a market capitalization as of this writing of $188 million. But small does not necessarily mean bad. In fact, in th ...