State of Michigan Retirement System Has $1.56 Million Holdings in New York Community Bancorp, Inc. (NYSE:NYCB)

Posted by Defense World Staff on Jul 23rd, 2023

State of Michigan Retirement System cut its stake in New York Community Bancorp, Inc. (NYSE:NYCB – Free Report) by 0.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 172,143 shares of the financial services provider’s stock after selling 1,000 shares during the period. State of Michigan Retirement System’s holdings in New York Community Bancorp were worth $1,556,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Spire Wealth Management boosted its stake in shares of New York Community Bancorp by 4.2% during the 4th quarter. Spire Wealth Management now owns 25,823 shares of the financial services provider’s stock worth $222,000 after buying an additional 1,033 shares during the last quarter. Kestra Private Wealth Services LLC boosted its stake in shares of New York Community Bancorp by 4.3% during the 4th quarter. Kestra Private Wealth Services LLC now owns 26,761 shares of the financial services provider’s stock worth $230,000 after buying an additional 1,091 shares during the last quarter. Lindbrook Capital LLC boosted its stake in shares of New York Community Bancorp by 71.5% during the 1st quarter. Lindbrook Capital LLC now owns 2,984 shares of the financial services provider’s stock worth $27,000 after buying an additional 1,244 shares during the last quarter. M Holdings Securities Inc. boosted its stake in shares of New York Community Bancorp by 5.9% during the 4th quarter. M Holdings Securities Inc. now owns 27,000 shares of the financial services provider’s stock worth $232,000 after buying an additional 1,500 shares during the last quarter. Finally, US Bancorp DE boosted its stake 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 worth $644,000 after buying an additional 1,587 shares during the last quarter. 62.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NYCB. StockNews.com upgraded shares of New York Community Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, May 12th. Morgan Stanley raised their target price on shares of New York Community Bancorp from $11.00 to $12.00 in a research note on Friday, July 7th. Jefferies Financial Group upgraded shares of New York Community Bancorp from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Tuesday, April 11th. TheStreet upgraded shares of New York Community Bancorp from a “c+” rating to a “b-” rating in a research note on Tuesday, May 16th. Finally, Raymond James raised their target price on shares of New York Community Bancorp from $13.00 to $14.00 in a research note on Thursday, July 6th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $11.12.

New York Community Bancorp Stock Down 0.7 %

New York Community Bancorp stock opened at $12.07 on Friday. New York Community Bancorp, Inc. has a twelve month low of $5.81 and a twelve month high of $12.25. The company’s 50-day moving average price is $11.02 and its two-hundred day moving average price is $9.80. The stock has a market cap of $8.72 billion, a P/E ratio of 3.17, a P/E/G ratio of 1.00 and a beta of 1.07. 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 Free Report) last announced its earnings results on Friday, April 28th. The financial services provider reported $0.23 EPS for the quarter, hitting the consensus estimate of $0.23. New York Community Bancorp had a net margin of 49.74% and a return on equity of 8.25%. The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $623.11 million. During the same period last year, the firm earned $0.32 earnings per share. The business’s revenue for the quarter was up 666.8% on a year-over-year basis. As a group, analysts expect that New York Community Bancorp, Inc. will post 1.21 EPS for the current year.

New York Community Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Monday, May 8th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, May 5th. This represents a $0.68 annualized dividend and a dividend yield of 5.63%. New York Community Bancorp’s dividend payout ratio is presently 17.85%.

New York Community Bancorp Company Profile

(Free Report)

New York Community Bancorp, Inc operates as the bank holding company for Flagstar Bank, N.A. that provides banking products and services in the United States. The company's deposit products include interest-bearing checking and money market, savings, non-interest-bearing, and retirement accounts, as well as certificates of deposit.