Legacy Capital Group California Inc. Decreases Stock Holdings in New York Community Bancorp, Inc. (NYSE:NYCB)

Legacy Capital Group California Inc. lessened its stake in New York Community Bancorp, Inc. (NYSE:NYCB) by 67.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 26,236 shares of the financial services provider’s stock after selling 55,382 shares during the quarter. Legacy Capital Group California Inc.’s holdings in New York Community Bancorp were worth $295,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in NYCB. Algert Global LLC grew its position in shares of New York Community Bancorp by 144.5% in the second quarter. Algert Global LLC now owns 461,902 shares of the financial services provider’s stock valued at $1,487,000 after purchasing an additional 273,002 shares during the period. Intech Investment Management LLC purchased a new position in New York Community Bancorp in the 2nd quarter valued at about $575,000. Point72 Asset Management L.P. boosted its holdings in New York Community Bancorp by 279.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 740,521 shares of the financial services provider’s stock worth $2,384,000 after buying an additional 545,321 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in New York Community Bancorp by 49.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 949,821 shares of the financial services provider’s stock worth $3,058,000 after buying an additional 315,960 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of New York Community Bancorp by 24.1% during the second quarter. Cetera Investment Advisers now owns 385,449 shares of the financial services provider’s stock valued at $1,241,000 after acquiring an additional 74,811 shares during the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NYCB has been the subject of several research reports. StockNews.com upgraded New York Community Bancorp to a “sell” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. upped their target price on shares of New York Community Bancorp from $11.50 to $12.50 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Raymond James upgraded shares of New York Community Bancorp from an “underperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. Wedbush reaffirmed a “neutral” rating and set a $31.50 price objective on shares of New York Community Bancorp in a research note on Friday, July 26th. Finally, Citigroup boosted their target price on New York Community Bancorp from $10.50 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $17.48.

New York Community Bancorp Stock Down 8.1 %

NYSE NYCB opened at $10.57 on Friday. New York Community Bancorp, Inc. has a 12 month low of $5.10 and a 12 month high of $34.47. The company has a market capitalization of $4.39 billion, a P/E ratio of -3.83 and a beta of 1.00. The company’s 50 day simple moving average is $11.11 and its 200 day simple moving average is $12.17. 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 (NYSE:NYCB) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported ($3.15) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $722.47 million. During the same quarter last year, the business earned $4.23 EPS. The company’s revenue for the quarter was down 44.2% compared to the same quarter last year. Equities research analysts expect that New York Community Bancorp, Inc. will post -2.41 earnings per share for the current fiscal year.

New York Community Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Saturday, December 7th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.38%. New York Community Bancorp’s dividend payout ratio is currently -1.45%.

New York Community Bancorp Company 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.