Norges Bank Makes New Investment in New York Community Bancorp, Inc. (NYSE:NYCB)

Norges Bank bought a new position in shares of New York Community Bancorp, Inc. (NYSE:NYCBFree Report) in the fourth quarter, Holdings Channel.com reports. The firm bought 7,588,282 shares of the financial services provider’s stock, valued at approximately $77,628,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NYCB. Orion Capital Management LLC bought a new position in shares of New York Community Bancorp in the third quarter valued at approximately $28,000. Loomis Sayles & Co. L P bought a new position in shares of New York Community Bancorp in the third quarter valued at approximately $29,000. Naples Money Management LLC bought a new position in shares of New York Community Bancorp in the fourth quarter valued at approximately $30,000. Authentikos Wealth Advisory LLC bought a new position in shares of New York Community Bancorp in the third quarter valued at approximately $35,000. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of New York Community Bancorp in the fourth quarter valued at approximately $40,000. Institutional investors own 67.88% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on NYCB. Royal Bank of Canada lowered their target price on shares of New York Community Bancorp from $5.00 to $4.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 9th. Citigroup lowered 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 note on Thursday, March 7th. Wedbush raised shares of New York Community Bancorp from an “underperform” rating to a “neutral” rating and raised their target price for the company from $3.00 to $3.50 in a research note on Wednesday, May 1st. TheStreet downgraded shares of New York Community Bancorp from a “b-” rating to a “c+” rating in a research note on Monday, February 5th. Finally, Morgan Stanley lowered their target price on shares of New York Community Bancorp from $6.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 7th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, New York Community Bancorp currently has an average rating of “Hold” and an average price target of $5.39.

Get Our Latest Report on NYCB

Insider Activity at New York Community Bancorp

In related news, Director Marshall Lux purchased 27,100 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were acquired at an average price of $3.69 per share, for a total transaction of $99,999.00. Following the completion of the acquisition, the director now directly owns 64,872 shares in the company, valued at approximately $239,377.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.38% of the stock is currently owned by company insiders.

New York Community Bancorp Stock Up 3.1 %

Shares of New York Community Bancorp stock opened at $3.33 on Monday. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.26 and a current ratio of 1.27. New York Community Bancorp, Inc. has a 52-week low of $1.70 and a 52-week high of $14.22. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 333.00 and a beta of 0.95. The company’s 50 day moving average price is $3.30 and its 200-day moving average price is $6.31.

New York Community Bancorp (NYSE:NYCBGet Free Report) last issued its earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.01. New York Community Bancorp had a net margin of 0.62% and a return on equity of 2.91%. The firm had revenue of $633.00 million for the quarter, compared to analysts’ expectations of $776.81 million. During the same quarter last year, the business earned $0.23 earnings per share. The business’s revenue was down 76.1% on a year-over-year basis. Equities research analysts forecast that New York Community Bancorp, Inc. will post -0.49 EPS for the current year.

New York Community Bancorp Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, June 7th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Friday, June 7th. New York Community Bancorp’s dividend payout ratio is 2,000.00%.

About New York Community Bancorp

(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.

See Also

Want to see what other hedge funds are holding NYCB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for New York Community Bancorp, Inc. (NYSE:NYCBFree Report).

Institutional Ownership by Quarter for New York Community Bancorp (NYSE:NYCB)

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