Arizona State Retirement System Acquires 61,099 Shares of New York Community Bancorp, Inc. (NYSE:NYCB)

Posted by Defense World Staff on May 12th, 2023

Arizona State Retirement System grew its holdings in New York Community Bancorp, Inc. (NYSE:NYCB – Get Rating) by 48.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 188,016 shares of the financial services provider’s stock after acquiring an additional 61,099 shares during the period. Arizona State Retirement System’s holdings in New York Community Bancorp were worth $1,617,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NYCB. JPMorgan Chase & Co. raised its position in New York Community Bancorp by 6.2% in the first quarter. JPMorgan Chase & Co. now owns 1,081,423 shares of the financial services provider’s stock worth $11,593,000 after acquiring an additional 63,418 shares during the period. American Century Companies Inc. raised its position in shares of New York Community Bancorp by 95.1% during the 1st quarter. American Century Companies Inc. now owns 146,581 shares of the financial services provider’s stock valued at $1,571,000 after purchasing an additional 71,460 shares during the period. US Bancorp DE raised its position in shares of New York Community Bancorp by 2.7% during the 1st quarter. US Bancorp DE now owns 60,084 shares of the financial services provider’s stock valued at $644,000 after purchasing an additional 1,587 shares during the period. AlphaCrest Capital Management LLC raised its position in shares of New York Community Bancorp by 122.0% during the 1st quarter. AlphaCrest Capital Management LLC now owns 36,608 shares of the financial services provider’s stock valued at $392,000 after purchasing an additional 20,121 shares during the period. Finally, Natixis Advisors L.P. bought a new stake in shares of New York Community Bancorp during the 1st quarter valued at $235,000. 63.17% of the stock is currently owned by institutional investors.

New York Community Bancorp Stock Performance

Shares of NYSE:NYCB opened at $9.75 on Friday. New York Community Bancorp, Inc. has a 52 week low of $5.81 and a 52 week high of $11.02. The stock has a market capitalization of $7.04 billion, a P/E ratio of 2.56, a PEG ratio of 0.79 and a beta of 1.06. The firm has a fifty day simple moving average of $8.82 and a two-hundred day simple moving average of $9.08. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 2.08.

New York Community Bancorp (NYSE:NYCB – Get Rating) last issued its quarterly earnings data on Friday, April 28th. The financial services provider reported $0.23 EPS for the quarter, hitting analysts’ consensus estimates of $0.23. New York Community Bancorp had a net margin of 49.74% and a return on equity of 8.25%. The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $623.11 million. During the same period last year, the company posted $0.32 EPS. The business’s revenue was up 666.8% on a year-over-year basis. On average, analysts expect that New York Community Bancorp, Inc. will post 1.27 earnings per share for the current fiscal year.

New York Community Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 18th. Investors of record on Monday, May 8th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, May 5th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 6.97%. New York Community Bancorp’s dividend payout ratio is presently 17.85%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NYCB. Jefferies Financial Group upgraded shares of New York Community Bancorp from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Tuesday, April 11th. Keefe, Bruyette & Woods upgraded shares of New York Community Bancorp from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $10.00 to $11.00 in a research report on Monday, March 20th. Raymond James assumed coverage on shares of New York Community Bancorp in a report on Wednesday, March 22nd. They issued a “strong-buy” rating and a $13.00 price target on the stock. Wedbush upgraded shares of New York Community Bancorp from a “neutral” rating to an “outperform” rating in a report on Monday, March 20th. Finally, Morgan Stanley reduced their price target on shares of New York Community Bancorp from $10.50 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.54.

New York Community Bancorp Company Profile

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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.