Handelsbanken Fonder AB Cuts Stock Holdings in New York Community Bancorp, Inc. (NYSE:NYCB)

Handelsbanken Fonder AB trimmed its position in shares of New York Community Bancorp, Inc. (NYSE:NYCB) by 50.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,982 shares of the financial services provider’s stock after selling 75,365 shares during the quarter. Handelsbanken Fonder AB’s holdings in New York Community Bancorp were worth $831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Moody National Bank Trust Division boosted its holdings in New York Community Bancorp by 49.6% during the 1st quarter. Moody National Bank Trust Division now owns 32,481 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 10,770 shares during the last quarter. Virtu Financial LLC boosted its holdings in New York Community Bancorp by 24.6% during the 4th 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 during the last quarter. Fulton Bank N.A. purchased a new position in New York Community Bancorp during the 1st quarter worth $111,000. Algert Global LLC boosted its holdings in New York Community Bancorp by 144.5% during the 2nd quarter. Algert Global LLC now owns 461,902 shares of the financial services provider’s stock worth $1,487,000 after acquiring an additional 273,002 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in New York Community Bancorp during the 2nd quarter worth $575,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

New York Community Bancorp Trading Up 7.6 %

Shares of NYCB opened at $11.78 on Friday. The business’s 50-day moving average price is $10.73 and its 200-day moving average price is $12.02. New York Community Bancorp, Inc. has a twelve month low of $5.10 and a twelve month high of $34.47. The stock has a market cap of $3.22 billion, a PE ratio of 392.67 and a beta of 1.00. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 3.66.

New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported ($3.15) earnings per share for the quarter, missing the consensus estimate of ($1.26) by ($1.89). New York Community Bancorp had a negative net margin of 10.78% and a negative return on equity of 4.49%. The company had revenue of $671.00 million for the quarter, compared to the consensus estimate of $722.47 million. During the same quarter in the prior year, the company earned $4.23 earnings per share. The company’s quarterly revenue was down 44.2% on a year-over-year basis. On average, equities analysts forecast that New York Community Bancorp, Inc. will post -2.42 EPS for the current fiscal year.

New York Community Bancorp Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Saturday, September 7th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Friday, September 6th. New York Community Bancorp’s payout ratio is 133.33%.

Wall Street Analysts Forecast Growth

NYCB has been the topic of a number of recent analyst reports. Raymond James upgraded New York Community Bancorp from an “underperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. Barclays upgraded New York Community Bancorp from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $10.00 to $14.00 in a research note on Thursday, September 26th. Citigroup lifted their target price on New York Community Bancorp from $10.50 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 3rd. StockNews.com upgraded New York Community Bancorp to a “sell” rating in a research note on Friday, July 19th. Finally, JPMorgan Chase & Co. lifted their target price on New York Community Bancorp from $11.50 to $12.50 and gave the stock a “neutral” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $17.48.

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.