Bank Buzz: Northeast Community Bancorp Offers An Attractive Valuation And Upside [Seeking Alpha]
NorthEast Community Bancorp, Inc. (NECB)
US:NASDAQ Investor Relations:
necommunitybank.com/aboutus/investorrelations.aspx
Company Research
Source: Seeking Alpha
We highlight a few potential ideas, including NECB and HONE. NECB trades at 84% of tangible book value and offers a potential 50% return over the next 16-18 months. Background Welcome back to the fourth edition of Bank Buzz, where we cover the community bank sector, with a specific focus on mutual conversions, our favorite niche within a niche. As a reminder, we like this space, as many of these little banks are inexpensive and possess the levers to materially increase shareholder value. The key is to find banks trading below tangible book value (TBV) with overcapitalized balance sheets, solid asset quality, and shareholder-friendly management teams. And then wait. In this issue, we will share a handful of brief insights and then spotlight Northeast Community Bancorp ( NASDAQ: NECB ), which becomes an acquisition candidate this summer. Comp Table & Quick Takes For our mutual conversion universe, we are about halfway through earnings season, with ten of our 21 banks
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NECB
News
- NorthEast Community Bancorp, Inc. Reports Results for the Three Months Ended March 31, 2024 [Yahoo! Finance]Yahoo! Finance
- NorthEast Community Bancorp, Inc. Reports Results for the Three Months Ended March 31, 2024GlobeNewswire
- Investing in Northeast Community Bancorp (NASDAQ:NECB) five years ago would have delivered you a 101% gain [Yahoo! Finance]Yahoo! Finance
- Is Northeast Community Bancorp (NECB) a Great Value Stock Right Now? [Yahoo! Finance]Yahoo! Finance
- Northeast Community Bancorp's (NASDAQ:NECB) Shareholders Will Receive A Bigger Dividend Than Last Year [Yahoo! Finance]Yahoo! Finance
NECB
Earnings
- 2/1/24 - Beat
NECB
Sec Filings
- 5/9/24 - Form 10-Q
- 4/26/24 - Form 8-K
- 4/12/24 - Form ARS
- NECB's page on the SEC website