Bank of New York Mellon Corp boosted its stake in shares of New York Community Bancorp, Inc. (NYSE:NYCB – Free Report) by 1.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,666,855 shares of the financial services provider’s stock after buying an additional 162,237 shares during the quarter. Bank of New York Mellon Corp owned 1.20% of New York Community Bancorp worth $78,348,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of NYCB. Lindbrook Capital LLC boosted its stake in shares of New York Community Bancorp by 71.5% in the first quarter. Lindbrook Capital LLC now owns 2,984 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 1,244 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of New York Community Bancorp in the second quarter valued at approximately $27,000. Lazard Asset Management LLC purchased a new position in shares of New York Community Bancorp in the fourth quarter valued at approximately $29,000. New Hampshire Trust purchased a new position in shares of New York Community Bancorp in the fourth quarter valued at approximately $32,000. Finally, Fifth Third Bancorp boosted its stake in shares of New York Community Bancorp by 107.7% in the first quarter. Fifth Third Bancorp now owns 4,315 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 2,237 shares during the period. Hedge funds and other institutional investors own 62.49% of the company’s stock.
Analyst Ratings Changes
Several analysts recently weighed in on NYCB shares. StockNews.com started coverage on shares of New York Community Bancorp in a report on Thursday. They issued a “hold” rating on the stock. Morgan Stanley raised their target price on shares of New York Community Bancorp from $11.00 to $12.00 in a report on Friday, July 7th. Raymond James raised their target price on shares of New York Community Bancorp from $14.00 to $17.00 in a report on Friday, July 28th. Deutsche Bank Aktiengesellschaft raised shares of New York Community Bancorp from a “hold” rating to a “buy” rating and raised their target price for the company from $10.00 to $16.00 in a report on Monday, July 31st. Finally, JPMorgan Chase & Co. raised shares of New York Community Bancorp from a “neutral” rating to an “overweight” rating and raised their target price for the company from $13.00 to $16.00 in a report on Friday, July 28th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.25.
Insider Activity at New York Community Bancorp
In related news, EVP Reginald E. Davis sold 24,000 shares of New York Community Bancorp stock in a transaction on Monday, August 14th. The shares were sold at an average price of $12.60, for a total value of $302,400.00. Following the transaction, the executive vice president now directly owns 81,416 shares in the company, valued at approximately $1,025,841.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.62% of the stock is currently owned by insiders.
New York Community Bancorp Stock Performance
Shares of New York Community Bancorp stock opened at $11.78 on Friday. The firm’s fifty day simple moving average is $11.87 and its 200-day simple moving average is $10.25. New York Community Bancorp, Inc. has a 12 month low of $5.81 and a 12 month high of $14.22. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.14 and a quick ratio of 1.11. The stock has a market capitalization of $8.51 billion, a price-to-earnings ratio of 2.93, a PEG ratio of 0.83 and a beta of 1.10.
New York Community Bancorp (NYSE:NYCB – Get Free Report) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.15. New York Community Bancorp had a net margin of 43.28% and a return on equity of 9.29%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $851.59 million. As a group, equities analysts forecast that New York Community Bancorp, Inc. will post 1.44 earnings per share for the current year.
New York Community Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 7th were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, August 4th. This represents a $0.68 dividend on an annualized basis and a yield of 5.77%. New York Community Bancorp’s dividend payout ratio (DPR) is 16.92%.
About New York Community Bancorp
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.
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