Fortitude Advisory Group L.L.C. Purchases New Position in New York Community Bancorp, Inc. (NYSE:NYCB)

Fortitude Advisory Group L.L.C. purchased a new stake in New York Community Bancorp, Inc. (NYSE:NYCB) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,254 shares of the financial services provider’s stock, valued at approximately $105,000.

Several other large investors have also added to or reduced their stakes in the business. Wellington Management Group LLP lifted its position in New York Community Bancorp by 7.5% in the 3rd quarter. Wellington Management Group LLP now owns 67,668,954 shares of the financial services provider’s stock valued at $767,366,000 after acquiring an additional 4,723,876 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in New York Community Bancorp by 154.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 5,135,955 shares of the financial services provider’s stock valued at $58,242,000 after acquiring an additional 3,114,070 shares in the last quarter. Cannell & Co. lifted its position in New York Community Bancorp by 12.3% in the 4th quarter. Cannell & Co. now owns 4,574,137 shares of the financial services provider’s stock valued at $46,793,000 after acquiring an additional 500,545 shares in the last quarter. Invesco Ltd. lifted its position in New York Community Bancorp by 3.4% in the 3rd quarter. Invesco Ltd. now owns 2,699,449 shares of the financial services provider’s stock valued at $30,612,000 after acquiring an additional 88,482 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its position in New York Community Bancorp by 42.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 2,404,016 shares of the financial services provider’s stock valued at $27,262,000 after acquiring an additional 719,728 shares in the last quarter. Institutional investors own 67.88% of the company’s stock.

New York Community Bancorp Stock Performance

New York Community Bancorp stock traded down $0.04 during mid-day trading on Thursday, reaching $3.36. The company’s stock had a trading volume of 5,616,062 shares, compared to its average volume of 34,232,629. The firm’s fifty day moving average price is $3.40 and its two-hundred day moving average price is $7.10. The company has a market capitalization of $2.68 billion, a P/E ratio of 1.02 and a beta of 0.95. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.17 and a current ratio of 1.18. New York Community Bancorp, Inc. has a 12-month low of $1.70 and a 12-month high of $14.22.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.56). The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $935.90 million. New York Community Bancorp had a net margin of 28.96% and a return on equity of 6.22%. During the same quarter last year, the firm earned $0.25 earnings per share. Sell-side analysts predict that New York Community Bancorp, Inc. will post -0.08 EPS for the current fiscal year.

New York Community Bancorp Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, June 7th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.19%. New York Community Bancorp’s dividend payout ratio (DPR) is currently 6.01%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Citigroup dropped their target price on shares of New York Community Bancorp from $5.00 to $3.50 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. Piper Sandler raised shares of New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $4.00 target price on the stock in a research report on Wednesday. JPMorgan Chase & Co. cut shares of New York Community Bancorp from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $11.50 to $5.50 in a research report on Wednesday, February 7th. Compass Point cut shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $16.00 to $8.00 in a research report on Thursday, February 1st. Finally, Royal Bank of Canada decreased their price target on shares of New York Community Bancorp from $5.00 to $4.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.39.

Insider Activity

In related news, Director Marshall Lux acquired 27,100 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was bought at an average cost of $3.69 per share, with a total value of $99,999.00. Following the acquisition, the director now owns 64,872 shares of the company’s stock, valued at approximately $239,377.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Marshall Lux acquired 27,100 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was bought at an average cost of $3.69 per share, with a total value of $99,999.00. Following the acquisition, the director now owns 64,872 shares of the company’s stock, valued at approximately $239,377.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Alessandro Dinello acquired 50,000 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were bought at an average cost of $4.19 per share, with a total value of $209,500.00. Following the completion of the acquisition, the chairman now directly owns 114,305 shares in the company, valued at approximately $478,937.95. The disclosure for this purchase can be found here. Insiders bought 213,410 shares of company stock worth $875,626 in the last three months. Corporate insiders own 1.62% of the company’s stock.

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.