Bank of New York Mellon Corp Boosts Stock Position in New York Community Bancorp, Inc. (NYSE:NYCB)

Bank of New York Mellon Corp increased its stake in New York Community Bancorp, Inc. (NYSE:NYCB – Get Rating) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,399,062 shares of the financial services provider’s stock after buying an additional 120,929 shares during the period. Bank of New York Mellon Corp owned 1.37% of New York Community Bancorp worth $54,584,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in NYCB. State Street Corp lifted its holdings in shares of New York Community Bancorp by 1.6% during the 1st quarter. State Street Corp now owns 15,752,749 shares of the financial services provider’s stock valued at $168,869,000 after buying an additional 243,633 shares during the period. Cannell & Co. raised its holdings in New York Community Bancorp by 0.7% in the 3rd quarter. Cannell & Co. now owns 6,514,139 shares of the financial services provider’s stock worth $55,566,000 after purchasing an additional 43,915 shares during the period. Renaissance Technologies LLC raised its holdings in New York Community Bancorp by 14.6% in the 2nd quarter. Renaissance Technologies LLC now owns 6,054,525 shares of the financial services provider’s stock worth $55,278,000 after purchasing an additional 770,300 shares during the period. Kahn Brothers Group Inc. raised its holdings in New York Community Bancorp by 17.8% in the 2nd quarter. Kahn Brothers Group Inc. now owns 5,822,377 shares of the financial services provider’s stock worth $53,158,000 after purchasing an additional 879,008 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in New York Community Bancorp by 3.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,032,654 shares of the financial services provider’s stock worth $43,230,000 after buying an additional 149,346 shares in the last quarter. Hedge funds and other institutional investors own 63.17% of the company’s stock.

New York Community Bancorp Stock Performance

New York Community Bancorp stock opened at $7.37 on Friday. The company has a 50 day moving average price of $9.29 and a 200-day moving average price of $9.18. The company has a debt-to-equity ratio of 2.56, a quick ratio of 1.20 and a current ratio of 1.22. New York Community Bancorp, Inc. has a fifty-two week low of $7.20 and a fifty-two week high of $11.37. The company has a market capitalization of $5.03 billion, a PE ratio of 5.90, a P/E/G ratio of 0.69 and a beta of 1.06.

New York Community Bancorp (NYSE:NYCB – Get Rating) last posted its quarterly earnings results on Tuesday, January 31st. The financial services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). New York Community Bancorp had a net margin of 27.79% and a return on equity of 9.32%. The company had revenue of $577.00 million for the quarter, compared to the consensus estimate of $410.71 million. As a group, equities analysts forecast that New York Community Bancorp, Inc. will post 1.13 earnings per share for the current year.

New York Community Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 16th. Investors of record on Monday, February 6th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 9.23%. The ex-dividend date of this dividend was Friday, February 3rd. New York Community Bancorp’s payout ratio is 54.40%.

Insider Activity at New York Community Bancorp

In other New York Community Bancorp news, Director Marshall Lux acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 3rd. The shares were bought at an average cost of $10.05 per share, with a total value of $50,250.00. Following the completion of the acquisition, the director now directly owns 17,000 shares in the company, valued at approximately $170,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Marshall Lux purchased 5,000 shares of the business’s stock in a transaction on Friday, February 3rd. The shares were acquired at an average cost of $10.05 per share, with a total value of $50,250.00. Following the completion of the acquisition, the director now owns 17,000 shares of the company’s stock, valued at $170,850. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ronald A. Rosenfeld sold 138,199 shares of New York Community Bancorp stock in a transaction on Monday, December 19th. The stock was sold at an average price of $8.74, for a total transaction of $1,207,859.26. Following the completion of the transaction, the director now directly owns 12,320 shares in the company, valued at $107,676.80. The disclosure for this sale can be found here. 1.58% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NYCB has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price target on New York Community Bancorp from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday, December 13th. TheStreet upgraded New York Community Bancorp from a “c+” rating to a “b-” rating in a research report on Tuesday, January 24th. DA Davidson began coverage on New York Community Bancorp in a research report on Tuesday, December 20th. They set a “neutral” rating and a $10.00 price objective for the company. Credit Suisse Group raised their price objective on New York Community Bancorp from $8.50 to $10.00 and gave the company a “neutral” rating in a research report on Wednesday, February 1st. Finally, Morgan Stanley began coverage on New York Community Bancorp in a research report on Monday, December 5th. They issued an “equal weight” rating and a $10.00 price target for the company. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $9.95.

About New York Community Bancorp

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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.