Healthcare of Ontario Pension Plan Trust Fund Reduces Position in New York Community Bancorp, Inc. (NYSE:NYCB)

Posted by Defense World Staff on Mar 1st, 2023

Healthcare of Ontario Pension Plan Trust Fund decreased its stake in shares of New York Community Bancorp, Inc. (NYSE:NYCB – Get Rating) by 65.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 71,580 shares of the financial services provider’s stock after selling 134,420 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in New York Community Bancorp were worth $611,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NYCB. Point72 Hong Kong Ltd acquired a new position in shares of New York Community Bancorp during the second quarter worth about $27,000. Bessemer Group Inc. bought a new stake in New York Community Bancorp in the third quarter valued at about $25,000. TFC Financial Management bought a new stake in New York Community Bancorp in the third quarter valued at about $26,000. Quadrant Capital Group LLC grew its holdings in shares of New York Community Bancorp by 181.0% during the third quarter. Quadrant Capital Group LLC now owns 3,347 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 2,156 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. grew its holdings in shares of New York Community Bancorp by 58.3% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 4,750 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 1,750 shares during the last quarter. Hedge funds and other institutional investors own 63.17% of the company’s stock.

Insider Activity

In related news, Director Ronald A. Rosenfeld acquired 30,800 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The stock was purchased at an average price of $24.57 per share, for a total transaction of $756,756.00. Following the transaction, the director now directly owns 30,800 shares of the company’s stock, valued at approximately $756,756. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Ronald A. Rosenfeld sold 138,199 shares of the business’s stock in a transaction on Monday, December 19th. The shares were sold at an average price of $8.74, for a total value of $1,207,859.26. Following the completion of the transaction, the director now owns 12,320 shares of the company’s stock, valued at approximately $107,676.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ronald A. Rosenfeld purchased 30,800 shares of the firm’s stock in a transaction dated Monday, February 6th. The stock was purchased at an average cost of $24.57 per share, with a total value of $756,756.00. Following the acquisition, the director now directly owns 30,800 shares in the company, valued at $756,756. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 41,800 shares of company stock worth $858,186. Insiders own 1.58% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on NYCB. Morgan Stanley began coverage on New York Community Bancorp in a research report on Monday, December 5th. They issued an “equal weight” rating and a $10.00 target price for the company. JPMorgan Chase & Co. decreased their price objective on shares of New York Community Bancorp from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, December 13th. DA Davidson started coverage on shares of New York Community Bancorp in a report on Tuesday, December 20th. They issued a “neutral” rating and a $10.00 price objective for the company. Stephens upgraded shares of New York Community Bancorp from an “underweight” rating to an “equal weight” rating and set a $8.50 price target for the company in a report on Friday, December 9th. Finally, Piper Sandler decreased their price target on shares of New York Community Bancorp from $14.00 to $11.00 and set an “overweight” rating for the company in a report on Monday, December 5th. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.95.

New York Community Bancorp Stock Performance

NYSE NYCB opened at $8.88 on Wednesday. New York Community Bancorp, Inc. has a 1-year low of $8.17 and a 1-year high of $11.73. The company has a 50 day moving average of $9.34 and a 200-day moving average of $9.29. The company has a current ratio of 1.22, a quick ratio of 1.20 and a debt-to-equity ratio of 2.56. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of 7.10, a PEG ratio of 0.79 and a beta of 1.04.

New York Community Bancorp (NYSE:NYCB – Get Rating) last posted its earnings results on Tuesday, January 31st. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). New York Community Bancorp had a net margin of 27.79% and a return on equity of 9.32%. The firm had revenue of $577.00 million during the quarter, compared to the consensus estimate of $410.71 million. On average, equities analysts forecast that New York Community Bancorp, Inc. will post 1.12 earnings per share for the current fiscal year.

New York Community Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 6th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 7.66%. The ex-dividend date was Friday, February 3rd. New York Community Bancorp’s dividend payout ratio (DPR) is currently 54.40%.

About New York Community Bancorp

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New York Community Bancorp, Inc is a bank holding company, which engages in the provision of multi-family loans on non-luxury rent-regulated buildings that feature below-market rents. It also offers financial products and services to individuals and businesses. The company was founded on July 20, 1993, and is headquartered in Westbury, NY.