Commonwealth Equity Services LLC Cuts Stock Position in New York Community Bancorp, Inc. (NYSE:NYCB)

Commonwealth Equity Services LLC lessened its stake in New York Community Bancorp, Inc. (NYSE:NYCB) by 15.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 297,308 shares of the financial services provider’s stock after selling 54,576 shares during the period. Commonwealth Equity Services LLC’s holdings in New York Community Bancorp were worth $2,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lindbrook Capital LLC grew its stake in 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 last quarter. Point72 Hong Kong Ltd acquired a new stake in New York Community Bancorp in the second quarter worth about $27,000. Lazard Asset Management LLC acquired a new stake in New York Community Bancorp in the fourth quarter worth about $29,000. New Hampshire Trust acquired a new stake in New York Community Bancorp in the fourth quarter worth about $32,000. Finally, Fifth Third Bancorp boosted its holdings in 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 worth $39,000 after acquiring an additional 2,237 shares in the last quarter. Hedge funds and other institutional investors own 67.52% of the company’s stock.

New York Community Bancorp Stock Down 2.5 %

Shares of NYCB stock opened at $12.01 on Wednesday. The stock has a 50 day moving average of $12.19 and a 200 day moving average of $10.46. The company has a current ratio of 1.14, a quick ratio of 1.11 and a debt-to-equity ratio of 1.55. The stock has a market cap of $8.68 billion, a P/E ratio of 2.99, a P/E/G ratio of 0.86 and a beta of 1.12. New York Community Bancorp, Inc. has a twelve month low of $5.81 and a twelve month high of $14.22.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.15. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $851.59 million. New York Community Bancorp had a return on equity of 9.29% and a net margin of 43.28%. As a group, sell-side analysts expect that New York Community Bancorp, Inc. will post 1.44 EPS for the current year.

New York Community Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 7th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.66%. The ex-dividend date was Friday, August 4th. New York Community Bancorp’s dividend payout ratio (DPR) is presently 16.92%.

Insider Activity

In other news, EVP Reginald E. Davis sold 24,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $12.60, for a total value of $302,400.00. Following the completion of the sale, the executive vice president now directly owns 81,416 shares in the company, valued at $1,025,841.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NYCB shares. StockNews.com started coverage on New York Community Bancorp in a report on Thursday, August 17th. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft raised New York Community Bancorp from a “hold” rating to a “buy” rating and raised their price target for the stock from $10.00 to $16.00 in a report on Monday, July 31st. JPMorgan Chase & Co. raised New York Community Bancorp from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $13.00 to $16.00 in a report on Friday, July 28th. TheStreet raised New York Community Bancorp from a “c+” rating to a “b-” rating in a report on Tuesday, May 16th. Finally, Bank of America lifted their target price on New York Community Bancorp from $13.00 to $15.00 in a report on Sunday, July 30th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.25.

New York Community Bancorp Profile

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.