Magnolia Capital Advisors LLC Takes Position in New York Community Bancorp, Inc. (NYSE:NYCB)

Magnolia Capital Advisors LLC purchased a new stake in New York Community Bancorp, Inc. (NYSE:NYCB) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 12,880 shares of the financial services provider’s stock, valued at approximately $41,000.

Other institutional investors also recently modified their holdings of the company. Moody National Bank Trust Division lifted its holdings in shares of New York Community Bancorp by 49.6% in the first quarter. Moody National Bank Trust Division now owns 32,481 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 10,770 shares in the last quarter. Virtu Financial LLC raised its holdings in New York Community Bancorp by 24.6% during the fourth quarter. Virtu Financial LLC now owns 70,945 shares of the financial services provider’s stock worth $726,000 after acquiring an additional 14,011 shares in the last quarter. Stifel Financial Corp raised its holdings in New York Community Bancorp by 6.8% during the fourth quarter. Stifel Financial Corp now owns 2,051,809 shares of the financial services provider’s stock worth $20,990,000 after acquiring an additional 129,889 shares in the last quarter. Fulton Bank N.A. bought a new stake in New York Community Bancorp during the first quarter worth about $111,000. Finally, Intech Investment Management LLC bought a new stake in New York Community Bancorp during the second quarter worth about $575,000. 67.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NYCB shares. Raymond James upgraded New York Community Bancorp from an “underperform” rating to a “market perform” rating in a report on Tuesday, September 17th. Keefe, Bruyette & Woods upped their target price on New York Community Bancorp from $11.25 to $33.75 and gave the stock a “market perform” rating in a report on Monday, July 15th. StockNews.com raised New York Community Bancorp to a “sell” rating in a research report on Friday, July 19th. Wedbush reissued a “neutral” rating and set a $31.50 price target on shares of New York Community Bancorp in a research report on Friday, July 26th. Finally, Barclays raised New York Community Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $10.00 to $14.00 in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $9.70.

New York Community Bancorp Price Performance

New York Community Bancorp stock opened at $11.23 on Tuesday. New York Community Bancorp, Inc. has a 12 month low of $5.10 and a 12 month high of $34.47. The stock’s 50 day moving average is $13.30 and its 200-day moving average is $7.90. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 3.66. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 374.33 and a beta of 1.00.

New York Community Bancorp (NYSE:NYCB) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported ($3.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.26) by ($1.89). The company had revenue of $671.00 million for the quarter, compared to analyst estimates of $722.47 million. New York Community Bancorp had a negative return on equity of 4.49% and a negative net margin of 10.78%. The company’s quarterly revenue was down 44.2% compared to the same quarter last year. During the same period in the prior year, the company earned $4.23 EPS. Equities research analysts expect that New York Community Bancorp, Inc. will post -2.43 EPS for the current year.

New York Community Bancorp Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Saturday, September 7th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date was Friday, September 6th. New York Community Bancorp’s dividend payout ratio is currently 133.33%.

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.