NorthEast Community Bancorp Q3 net income, EPS fall

Northeast Community Bancorp

22/10/2026 20:41

Overview
US regional bank's Q3 net income and EPS declined yr/yr
Company's loan portfolio, especially construction loans, grew, driving asset and deposit increases
Company repurchased 239,894 shares under third buyback program as of quarter end

Outlook
Company expects continued robust demand for construction loans in core New York submarkets
NorthEast Community Bancorp highlights ongoing loan portfolio growth, especially in construction lending

Result Drivers
CONSTRUCTION LOAN GROWTH - Co said robust demand in Bronx, Rockland, Orange, and Sullivan Counties drove construction loan portfolio growth
INTEREST RATE MOVEMENTS - Lower Federal Funds rate reduced yield on interest-earning assets, impacting net interest income

Company press release: ID:nGNX3NVvw2

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
 
$0.79
 
Q3 Net Income
 
$10.67 mln
 
Q3 Net Interest Income
 
$26.09 mln
 
Q3 Net Interest Margin
 
5.09%
 
Q3 Pretax Profit
 
$15.16 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
Wall Street's median 12-month price target for Northeast Community Bancorp Inc is $30.00, about 6.2% above its October 21 closing price of $28.25
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago

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Oct 22 - Valley National Bancorp Q3 revenue rises, beats analyst estimates

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)