MeadowBrook Investment Advisors LLC Takes $587,000 Position in New York Community Bancorp, Inc. (NYSE:NYCB)

MeadowBrook Investment Advisors LLC acquired a new position in New York Community Bancorp, Inc. (NYSE:NYCB) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 57,400 shares of the financial services provider’s stock, valued at approximately $587,000.

Other institutional investors also recently modified their holdings of the company. Spire Wealth Management raised its stake in shares of New York Community Bancorp by 8.3% during the 4th quarter. Spire Wealth Management now owns 36,250 shares of the financial services provider’s stock worth $361,000 after purchasing an additional 2,775 shares in the last quarter. Axxcess Wealth Management LLC boosted its position in New York Community Bancorp by 88.9% during the 4th quarter. Axxcess Wealth Management LLC now owns 19,340 shares of the financial services provider’s stock worth $198,000 after buying an additional 9,100 shares during the period. Fortitude Advisory Group L.L.C. acquired a new stake in New York Community Bancorp in the fourth quarter valued at $105,000. Essex Financial Services Inc. lifted its stake in shares of New York Community Bancorp by 8.6% in the fourth quarter. Essex Financial Services Inc. now owns 53,775 shares of the financial services provider’s stock worth $550,000 after acquiring an additional 4,240 shares during the period. Finally, Cannell & Co. boosted its stake in shares of New York Community Bancorp by 12.3% in the 4th quarter. Cannell & Co. now owns 4,574,137 shares of the financial services provider’s stock valued at $46,793,000 after purchasing an additional 500,545 shares during the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NYCB. Citigroup dropped their target price on shares of New York Community Bancorp from $5.00 to $3.50 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. Deutsche Bank Aktiengesellschaft lowered shares of New York Community Bancorp from a “buy” rating to a “hold” rating and reduced their target price for the stock from $15.00 to $7.00 in a research note on Friday, February 2nd. Royal Bank of Canada reduced their target price on shares of New York Community Bancorp from $5.00 to $4.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 9th. Piper Sandler upgraded shares of New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $4.00 price target for the company in a research report on Wednesday, May 1st. Finally, Compass Point downgraded shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $16.00 to $8.00 in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, New York Community Bancorp has a consensus rating of “Hold” and an average price target of $5.39.

Insider Activity at New York Community Bancorp

In other New York Community Bancorp news, Director Peter Schoels acquired 100,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $4.15 per share, for a total transaction of $415,000.00. Following the completion of the transaction, the director now directly owns 147,438 shares of the company’s stock, valued at $611,867.70. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In other New York Community Bancorp news, Director Peter Schoels purchased 100,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were acquired at an average price of $4.15 per share, with a total value of $415,000.00. Following the purchase, the director now directly owns 147,438 shares in the company, valued at approximately $611,867.70. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas R. Cangemi purchased 11,310 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $4.41 per share, for a total transaction of $49,877.10. Following the purchase, the chief executive officer now owns 69,704 shares in the company, valued at $307,394.64. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 213,410 shares of company stock worth $875,626. 1.62% of the stock is owned by corporate insiders.

New York Community Bancorp Trading Up 2.2 %

NYSE:NYCB traded up $0.08 during midday trading on Tuesday, hitting $3.73. 8,343,372 shares of the company traded hands, compared to its average volume of 33,871,945. The firm’s fifty day moving average is $3.34 and its 200-day moving average is $6.92. New York Community Bancorp, Inc. has a 12-month low of $1.70 and a 12-month high of $14.22. The firm has a market capitalization of $2.98 billion, a P/E ratio of 372.00 and a beta of 0.95. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 2.70.

New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.01. New York Community Bancorp had a return on equity of 2.78% and a net margin of 0.62%. The firm had revenue of $633.00 million for the quarter, compared to analyst estimates of $776.81 million. During the same quarter last year, the firm posted $0.23 earnings per share. The business’s revenue for the quarter was down 76.1% on a year-over-year basis. On average, sell-side analysts predict that New York Community Bancorp, Inc. will post -0.34 EPS for the current year.

New York Community Bancorp Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, June 7th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.07%. The ex-dividend date is Thursday, June 6th. New York Community Bancorp’s dividend payout ratio is currently 2,000.00%.

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.