LPL Financial LLC Raises Stock Position in New York Community Bancorp, Inc. (NYSE:NYCB)

LPL Financial LLC raised its stake in shares of New York Community Bancorp, Inc. (NYSE:NYCB) by 50.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 289,141 shares of the financial services provider’s stock after purchasing an additional 96,815 shares during the quarter. LPL Financial LLC’s holdings in New York Community Bancorp were worth $3,250,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Cubic Asset Management LLC increased its position in New York Community Bancorp by 3.0% during the 2nd quarter. Cubic Asset Management LLC now owns 87,135 shares of the financial services provider’s stock valued at $979,000 after purchasing an additional 2,500 shares during the period. Strategic Advisors LLC grew its position in shares of New York Community Bancorp by 387.0% in the 2nd quarter. Strategic Advisors LLC now owns 161,749 shares of the financial services provider’s stock worth $1,818,000 after buying an additional 128,539 shares during the period. AlphaMark Advisors LLC grew its position in shares of New York Community Bancorp by 11.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 9,420 shares of the financial services provider’s stock worth $106,000 after buying an additional 1,000 shares during the period. Koshinski Asset Management Inc. purchased a new stake in shares of New York Community Bancorp in the 2nd quarter worth about $127,000. Finally, Vanguard Personalized Indexing Management LLC grew its position in shares of New York Community Bancorp by 120.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 104,191 shares of the financial services provider’s stock worth $1,171,000 after buying an additional 56,834 shares during the period. 67.52% of the stock is owned by hedge funds and other institutional investors.

New York Community Bancorp Price Performance

NYSE NYCB opened at $9.61 on Wednesday. The company has a 50-day moving average price of $10.99 and a 200-day moving average price of $11.16. New York Community Bancorp, Inc. has a 52 week low of $5.81 and a 52 week high of $14.22. The company has a quick ratio of 1.09, a current ratio of 1.12 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $6.94 billion, a P/E ratio of 2.41, a PEG ratio of 0.58 and a beta of 1.15.

New York Community Bancorp (NYSE:NYCB) last announced its earnings results on Thursday, October 26th. The financial services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $931.90 million. New York Community Bancorp had a net margin of 37.39% and a return on equity of 9.49%. During the same period in the prior year, the company earned $0.31 earnings per share. Equities research analysts anticipate that New York Community Bancorp, Inc. will post 1.68 earnings per share for the current year.

New York Community Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Monday, November 6th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, November 3rd. This represents a $0.68 annualized dividend and a yield of 7.08%. New York Community Bancorp’s dividend payout ratio (DPR) is presently 17.04%.

Insider Buying and Selling at New York Community Bancorp

In other news, EVP Reginald E. Davis sold 11,000 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $9.84, for a total value of $108,240.00. Following the transaction, the executive vice president now owns 70,416 shares of the company’s stock, valued at $692,893.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Reginald E. Davis sold 11,000 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $9.84, for a total transaction of $108,240.00. Following the completion of the transaction, the executive vice president now directly owns 70,416 shares in the company, valued at approximately $692,893.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Reginald E. Davis sold 24,000 shares of the firm’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 transaction of $302,400.00. Following the sale, the executive vice president now owns 81,416 shares in the company, valued at approximately $1,025,841.60. The disclosure for this sale can be found here. 1.62% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NYCB. JPMorgan Chase & Co. raised shares of New York Community Bancorp from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $13.00 to $16.00 in a research report on Friday, July 28th. Wedbush downgraded shares of New York Community Bancorp from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $12.00 to $11.00 in a research report on Friday, November 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of New York Community Bancorp from a “hold” rating to a “buy” rating and upped their price target for the stock from $10.00 to $16.00 in a research note on Monday, July 31st. Royal Bank of Canada dropped their price target on shares of New York Community Bancorp from $16.00 to $14.00 in a research note on Tuesday, October 10th. Finally, Bank of America dropped their price target on shares of New York Community Bancorp from $15.00 to $13.00 in a research note on Tuesday, October 10th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $12.30.

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.