Ipswich Investment Management Co. Inc. Acquires New Position in New York Community Bancorp, Inc. (NYCB)

Ipswich Investment Management Co. Inc. acquired a new stake in shares of New York Community Bancorp, Inc. (NYSE:NYCB) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 6,150 shares of the financial services provider’s stock, valued at approximately $58,000.

Other large investors also recently made changes to their positions in the company. Atria Investments LLC bought a new position in shares of New York Community Bancorp during the third quarter valued at about $105,000. Truvestments Capital LLC bought a new position in shares of New York Community Bancorp during the second quarter valued at about $114,000. Sanders Morris Harris LLC bought a new position in shares of New York Community Bancorp during the third quarter valued at about $114,000. Lido Advisors LLC bought a new position in shares of New York Community Bancorp during the third quarter valued at about $114,000. Finally, Glenmede Trust Co. NA bought a new position in shares of New York Community Bancorp during the third quarter valued at about $114,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

NYSE NYCB opened at $10.39 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 2.20. The stock has a market capitalization of $4.99 billion, a P/E ratio of 13.21, a price-to-earnings-growth ratio of 1.28 and a beta of 0.74. New York Community Bancorp, Inc. has a 1 year low of $8.61 and a 1 year high of $14.53.

New York Community Bancorp (NYSE:NYCB) last posted its earnings results on Wednesday, October 24th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.20. The company had revenue of $272.43 million for the quarter, compared to analysts’ expectations of $285.05 million. New York Community Bancorp had a return on equity of 6.60% and a net margin of 26.41%. During the same period last year, the firm earned $0.21 earnings per share. As a group, analysts anticipate that New York Community Bancorp, Inc. will post 0.79 EPS for the current fiscal year.

NYCB has been the topic of a number of recent research reports. Zacks Investment Research reaffirmed a “sell” rating on shares of New York Community Bancorp in a research note on Wednesday, November 14th. Piper Jaffray Companies raised New York Community Bancorp from an “underweight” rating to a “neutral” rating and cut their target price for the stock from $10.00 to $9.00 in a research note on Friday, October 26th. Credit Suisse Group reissued a “hold” rating and issued a $11.00 target price on shares of New York Community Bancorp in a research note on Monday, January 7th. B. Riley set a $11.00 target price on New York Community Bancorp and gave the stock a “hold” rating in a research note on Monday, October 15th. Finally, Barclays cut New York Community Bancorp from an “equal weight” rating to an “underweight” rating in a research note on Thursday, January 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. New York Community Bancorp presently has a consensus rating of “Hold” and a consensus price target of $11.85.

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New York Community Bancorp Profile

New York Community Bancorp, Inc operates as a holding company for New York Community Bank and New York Commercial Bank that offer banking products and financial services in Metro New York, New Jersey, Ohio, Florida, and Arizona. The company offers various deposit products that include checking and savings accounts, individual retirement accounts, certificates of deposit, NOW and money market accounts, and non-interest-bearing accounts.

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

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