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Charles Michael Cirillo, a director at NorthEast Community Bancorp, Inc. (NASDAQ:NECB), recently sold a portion of his holdings in the company. According to a recent SEC filing, Cirillo sold 2,896 shares of common stock on March 14, 2025, at an average price of $22.7939 per share. This transaction amounted to a total sale value of approximately $66,011. The sale occurred as NECB shares, currently trading at $22.9, show signs of undervaluation according to InvestingPro analysis, with the stock delivering an impressive 56.7% return over the past year.
Following this transaction, Cirillo retains direct ownership of 2,909 shares. Additionally, he holds 10,000 shares indirectly through an IRA and 8,688 shares that were acquired through a stock award, as per the company’s 2022 Equity Incentive Plan. This plan stipulates that stock awards vest in five equal annual installments, commencing on September 30, 2023. The $267.37 million market cap company has maintained dividend payments for 19 consecutive years, demonstrating consistent shareholder returns.
Cirillo also holds stock options to purchase 36,201 shares at an exercise price of $12.40, which are set to vest in approximately equal annual installments over five years, starting from September 30, 2023. With a P/E ratio of 6.4x and strong financial metrics, InvestingPro subscribers have access to 8 additional key insights about NECB’s valuation and growth prospects.
In other recent news, NorthEast Community Bancorp, Inc. announced a quarterly cash dividend of $0.15 per common share. This dividend is set to be distributed on February 5, 2025, to shareholders who are recorded as of January 3, 2025. The announcement reflects the company’s ongoing commitment to returning value to its shareholders through regular dividend payments. NorthEast Community Bancorp included cautionary notes in its press release about forward-looking statements, emphasizing that these are based on current management beliefs and are subject to risks and uncertainties. Factors such as market interest rates, economic conditions, and regulatory changes could affect future results. The company also highlighted potential risks related to cyberattacks and operational disruptions. Investors are advised not to rely unduly on these forward-looking statements as they are subject to change. NorthEast Community Bancorp stated that it does not have an obligation to update these statements publicly.
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