Goldman Sachs Group Inc. Buys 2,206,140 Shares of New York Community Bancorp, Inc. (NYSE:NYCB)

Goldman Sachs Group Inc. increased its stake in New York Community Bancorp, Inc. (NYSE:NYCB) by 353.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,830,195 shares of the financial services provider’s stock after buying an additional 2,206,140 shares during the period. Goldman Sachs Group Inc. owned 0.39% of New York Community Bancorp worth $28,953,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of NYCB. DekaBank Deutsche Girozentrale bought a new position in New York Community Bancorp in the third quarter worth about $338,000. QRG Capital Management Inc. purchased a new stake in New York Community Bancorp in the third quarter worth about $198,000. Envestnet Portfolio Solutions Inc. purchased a new stake in New York Community Bancorp in the third quarter worth about $151,000. Invesco Ltd. grew its holdings in New York Community Bancorp by 3.4% in the third quarter. Invesco Ltd. now owns 2,699,449 shares of the financial services provider’s stock worth $30,612,000 after purchasing an additional 88,482 shares during the period. Finally, LPL Financial LLC grew its holdings in New York Community Bancorp by 26.5% in the third quarter. LPL Financial LLC now owns 365,828 shares of the financial services provider’s stock worth $4,148,000 after purchasing an additional 76,687 shares during the period. 67.88% of the stock is owned by institutional investors.

New York Community Bancorp Stock Performance

Shares of New York Community Bancorp stock opened at $3.06 on Monday. The company’s fifty day simple moving average is $3.26 and its 200-day simple moving average is $5.45. The stock has a market capitalization of $2.51 billion, a PE ratio of 306.00 and a beta of 0.98. New York Community Bancorp, Inc. has a 1-year low of $1.70 and a 1-year high of $14.22. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.27 and a quick ratio of 1.26.

New York Community Bancorp (NYSE:NYCB) last issued its quarterly earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.01. The business had revenue of $633.00 million for the quarter, compared to analysts’ expectations of $776.81 million. New York Community Bancorp had a net margin of 0.62% and a return on equity of 2.91%. The company’s revenue was down 76.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.23 EPS. As a group, equities analysts anticipate that New York Community Bancorp, Inc. will post -0.49 earnings per share for the current year.

New York Community Bancorp Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, June 7th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Friday, June 7th. New York Community Bancorp’s dividend payout ratio (DPR) is 400.00%.

Analyst Ratings Changes

NYCB has been the topic of a number of recent research reports. Piper Sandler upgraded shares of New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $4.00 price objective on the stock in a report on Wednesday, May 1st. Barclays started coverage on shares of New York Community Bancorp in a report on Friday, March 8th. They issued an “equal weight” rating and a $4.00 price objective on the stock. Wedbush raised shares of New York Community Bancorp from an “underperform” rating to a “neutral” rating and raised their price target for the company from $3.00 to $3.50 in a research 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 price target for the company. in a research report on Monday, March 18th. Finally, Citigroup reduced their price target on shares of New York Community Bancorp from $5.00 to $3.50 and set a “neutral” rating for the company in a research report on Thursday, March 7th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.39.

About New York Community Bancorp

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.