New York Community Bancorp, Inc. (NYSE:NYCB) Stake Boosted by Point72 Asset Management L.P.

Point72 Asset Management L.P. raised its stake in New York Community Bancorp, Inc. (NYSE:NYCB) by 279.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 740,521 shares of the financial services provider’s stock after purchasing an additional 545,321 shares during the quarter. Point72 Asset Management L.P.’s holdings in New York Community Bancorp were worth $2,384,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in NYCB. Legacy Capital Group California Inc. grew its holdings in New York Community Bancorp by 1.2% in the 2nd quarter. Legacy Capital Group California Inc. now owns 81,618 shares of the financial services provider’s stock valued at $263,000 after buying an additional 934 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of New York Community Bancorp by 6.2% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 19,642 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 1,146 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of New York Community Bancorp by 7.6% in the 2nd quarter. CIBC Asset Management Inc now owns 20,405 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 1,436 shares in the last quarter. Family Asset Management LLC increased its stake in shares of New York Community Bancorp by 9.2% in the second quarter. Family Asset Management LLC now owns 18,010 shares of the financial services provider’s stock valued at $58,000 after buying an additional 1,510 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of New York Community Bancorp by 4.4% in the second quarter. ProShare Advisors LLC now owns 36,769 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 1,544 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 analysts have issued reports on NYCB shares. Keefe, Bruyette & Woods upped their target price on shares of New York Community Bancorp from $11.25 to $33.75 and gave the company a “market perform” rating in a research report on Monday, July 15th. Raymond James upgraded shares of New York Community Bancorp from an “underperform” rating to a “market perform” rating in a report on Tuesday, September 17th. Citigroup increased their target price on shares of New York Community Bancorp from $3.50 to $4.00 and gave the stock a “neutral” rating in a report on Wednesday, July 3rd. 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. Finally, StockNews.com upgraded New York Community Bancorp to a “sell” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $9.70.

New York Community Bancorp Stock Up 0.6 %

Shares of NYCB opened at $10.84 on Thursday. The firm has a 50 day simple moving average of $11.95 and a two-hundred day simple moving average of $8.02. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.27 and a quick ratio of 1.17. New York Community Bancorp, Inc. has a one year low of $5.10 and a one year high of $34.47. The company has a market cap of $4.50 billion, a P/E ratio of 361.33 and a beta of 1.00.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported ($3.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.26) by ($1.89). The business 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%. New York Community Bancorp’s quarterly revenue was down 44.2% on a year-over-year basis. During the same period last year, the firm posted $4.23 EPS. Research analysts forecast that New York Community Bancorp, Inc. will post -2.43 EPS for the current fiscal year.

New York Community Bancorp Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Saturday, September 7th were issued a $0.01 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.37%. New York Community Bancorp’s dividend payout ratio (DPR) 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.