Wolverine Asset Management LLC Acquires Shares of 49,943 New York Community Bancorp, Inc. (NYSE:NYCB)

Wolverine Asset Management LLC acquired a new stake in New York Community Bancorp, Inc. (NYSE:NYCB) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 49,943 shares of the financial services provider’s stock, valued at approximately $511,000.

Several other large investors have also recently added to or reduced their stakes in NYCB. International Assets Investment Management LLC grew its position in New York Community Bancorp by 1,237.8% in the fourth quarter. International Assets Investment Management LLC now owns 484,124 shares of the financial services provider’s stock worth $47,324,000 after acquiring an additional 447,937 shares in the last quarter. Nordea Investment Management AB bought a new stake in New York Community Bancorp in the fourth quarter worth approximately $1,755,000. AQR Capital Management LLC grew its position in New York Community Bancorp by 212.7% in the third quarter. AQR Capital Management LLC now owns 1,982,700 shares of the financial services provider’s stock worth $22,444,000 after acquiring an additional 1,348,601 shares in the last quarter. Pacer Advisors Inc. grew its position in New York Community Bancorp by 79.2% in the fourth quarter. Pacer Advisors Inc. now owns 108,619 shares of the financial services provider’s stock worth $1,111,000 after acquiring an additional 47,996 shares in the last quarter. Finally, State of Michigan Retirement System grew its position in New York Community Bancorp by 7.9% in the fourth quarter. State of Michigan Retirement System now owns 173,343 shares of the financial services provider’s stock worth $1,773,000 after acquiring an additional 12,700 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

New York Community Bancorp Trading Down 3.6 %

Shares of NYCB stock opened at $2.96 on Friday. 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 cap of $2.36 billion, a price-to-earnings ratio of 0.89 and a beta of 0.91. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.17 and a current ratio of 1.18. The firm has a fifty day moving average of $3.51 and a 200-day moving average of $7.29.

New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings data on Wednesday, January 31st. The financial services provider reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.56). New York Community Bancorp had a net margin of 28.96% and a return on equity of 6.22%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $935.90 million. During the same quarter in the prior year, the company posted $0.25 EPS. On average, equities research analysts forecast that New York Community Bancorp, Inc. will post -0.08 earnings per share for the current fiscal year.

New York Community Bancorp Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 6.76%. The ex-dividend date was Tuesday, February 13th. New York Community Bancorp’s dividend payout ratio (DPR) is currently 6.01%.

Analysts Set New Price Targets

NYCB has been the subject of several recent research reports. Morgan Stanley decreased their target price on shares of New York Community Bancorp from $6.00 to $4.00 and set an “equal weight” rating for the company in a research report on Thursday, March 7th. DA Davidson downgraded shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $8.50 to $5.00 in a report on Thursday, February 8th. Jefferies Financial Group downgraded shares of New York Community Bancorp from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $13.00 to $7.00 in a report on Thursday, February 1st. UBS Group downgraded shares of New York Community Bancorp from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Finally, Wedbush decreased their price objective on shares of New York Community Bancorp from $3.50 to $3.00 and set an “underperform” rating for the company in a report on Thursday, March 7th. Three investment analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.43.

Insider Buying and Selling

In other news, CEO Thomas R. Cangemi bought 11,310 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average price of $4.41 per share, for a total transaction of $49,877.10. Following the transaction, the chief executive officer now directly owns 69,704 shares of the company’s stock, valued at approximately $307,394.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Peter Schoels acquired 100,000 shares of the stock in a transaction on Friday, February 9th. The stock was purchased at an average price of $4.15 per share, for a total transaction of $415,000.00. Following the transaction, the director now owns 147,438 shares of the company’s stock, valued at approximately $611,867.70. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Thomas R. Cangemi acquired 11,310 shares of the stock in a transaction on Friday, February 9th. The stock was bought at an average price of $4.41 per share, with a total value of $49,877.10. Following the transaction, the chief executive officer now directly owns 69,704 shares in the company, valued at approximately $307,394.64. The disclosure for this purchase can be found here. Insiders bought 213,410 shares of company stock worth $875,626 in the last quarter. 1.62% of the stock is owned by corporate insiders.

New York Community Bancorp Company 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.