Franklin Resources Inc. Sells 119,045 Shares of New York Community Bancorp, Inc. (NYSE:NYCB)

Posted by Defense World Staff on Jun 2nd, 2023

Franklin Resources Inc. trimmed its position in shares of New York Community Bancorp, Inc. (NYSE:NYCB – Get Rating) by 13.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 782,003 shares of the financial services provider’s stock after selling 119,045 shares during the period. Franklin Resources Inc. owned about 0.17% of New York Community Bancorp worth $6,725,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of NYCB. Dimensional Fund Advisors LP raised its stake in New York Community Bancorp by 62.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 35,750,139 shares of the financial services provider’s stock worth $307,453,000 after buying an additional 13,681,486 shares in the last quarter. Brandywine Global Investment Management LLC raised its stake in New York Community Bancorp by 56.6% in the fourth quarter. Brandywine Global Investment Management LLC now owns 6,102,323 shares of the financial services provider’s stock worth $52,480,000 after buying an additional 2,206,438 shares in the last quarter. Renaissance Technologies LLC raised its stake in New York Community Bancorp by 70.7% in the first quarter. Renaissance Technologies LLC now owns 5,284,225 shares of the financial services provider’s stock worth $56,647,000 after buying an additional 2,188,800 shares in the last quarter. Bank of Montreal Can raised its stake in New York Community Bancorp by 2,827.6% in the fourth quarter. Bank of Montreal Can now owns 1,882,249 shares of the financial services provider’s stock worth $16,677,000 after buying an additional 1,817,955 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in New York Community Bancorp by 30.2% in the third quarter. First Trust Advisors LP now owns 4,899,761 shares of the financial services provider’s stock worth $41,795,000 after buying an additional 1,135,590 shares in the last quarter. 63.17% of the stock is owned by institutional investors.

New York Community Bancorp Stock Up 2.7 %

Shares of New York Community Bancorp stock opened at $10.56 on Friday. The company has a market cap of $7.63 billion, a price-to-earnings ratio of 2.77, a price-to-earnings-growth ratio of 0.82 and a beta of 1.06. The company’s 50 day moving average is $9.66 and its 200 day moving average is $9.24. New York Community Bancorp, Inc. has a twelve month low of $5.81 and a twelve month high of $11.21. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 2.74.

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 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.23. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $623.11 million. New York Community Bancorp had a net margin of 49.74% and a return on equity of 8.25%. The firm’s revenue for the quarter was up 666.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 earnings per share. Research analysts anticipate that New York Community Bancorp, Inc. will post 1.25 EPS for the current year.

New York Community Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Shareholders of record on Monday, May 8th were given a $0.17 dividend. The ex-dividend date was Friday, May 5th. This represents a $0.68 annualized dividend and a yield of 6.44%. New York Community Bancorp’s payout ratio is presently 17.85%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NYCB shares. StockNews.com raised shares of New York Community Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, May 12th. 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 report on Tuesday, April 11th. TheStreet upgraded shares of New York Community Bancorp from a “c+” rating to a “b-” rating in a report on Tuesday, May 16th. Credit Suisse Group upped their price objective on shares of New York Community Bancorp from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, March 21st. Finally, Keefe, Bruyette & Woods upgraded shares of New York Community Bancorp from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $10.00 to $11.00 in a report on Monday, March 20th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $10.54.

New York Community Bancorp 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.