Vanguard Group Inc. Grows Position in New York Community Bancorp, Inc. (NYSE:NYCB)

Vanguard Group Inc. grew its stake in shares of New York Community Bancorp, Inc. (NYSE:NYCB) by 0.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 70,655,122 shares of the financial services provider’s stock after purchasing an additional 16,106 shares during the period. Vanguard Group Inc. owned approximately 0.10% of New York Community Bancorp worth $722,802,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP boosted its holdings in New York Community Bancorp by 7.5% during the third quarter. Wellington Management Group LLP now owns 67,668,954 shares of the financial services provider’s stock worth $767,366,000 after buying an additional 4,723,876 shares in the last quarter. Norges Bank purchased a new stake in shares of New York Community Bancorp during the 4th quarter worth approximately $77,628,000. Westfield Capital Management Co. LP grew its holdings in shares of New York Community Bancorp by 154.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 5,135,955 shares of the financial services provider’s stock worth $58,242,000 after acquiring an additional 3,114,070 shares during the period. Cannell & Co. increased its stake in 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in New York Community Bancorp by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,553,207 shares of the financial services provider’s stock worth $46,579,000 after purchasing an additional 33,122 shares during the last quarter. 67.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wedbush raised New York Community Bancorp from an “underperform” rating to a “neutral” rating and upped their target price for the company from $3.00 to $3.50 in a report on Wednesday, May 1st. Raymond James downgraded shares of New York Community Bancorp from a “market perform” rating to an “underperform” rating and set a $3.00 target price for the company. in a report on Monday, March 18th. Piper Sandler raised shares of New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $4.00 price target on the stock in a report on Wednesday, May 1st. Citigroup lowered their price target 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. Finally, StockNews.com upgraded New York Community Bancorp to a “sell” rating in a research report on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $5.39.

New York Community Bancorp Stock Performance

Shares of NYCB opened at $3.06 on Friday. New York Community Bancorp, Inc. has a fifty-two week low of $1.70 and a fifty-two week high of $14.22. The company has a market capitalization of $2.51 billion, a PE ratio of 306.00 and a beta of 0.98. The stock has a fifty day moving average of $3.26 and a two-hundred day moving average of $5.47. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.26 and a current ratio of 1.27.

New York Community Bancorp (NYSE:NYCB) last released its 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 2.91% and a net margin of 0.62%. The firm had revenue of $633.00 million during the quarter, compared to analyst estimates of $776.81 million. During the same period in the prior year, the firm posted $0.23 earnings per share. The business’s quarterly revenue was down 76.1% compared to the same quarter last year. As a group, analysts forecast that New York Community Bancorp, Inc. will post -0.49 EPS for the current year.

New York Community Bancorp Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, June 7th were issued a dividend of $0.01 per share. The ex-dividend date was Friday, June 7th. This represents a $0.04 annualized dividend and a dividend yield of 1.31%. New York Community Bancorp’s payout ratio is currently 400.00%.

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.