Shikiar Asset Management Inc. cut its holdings in shares of New York Community Bancorp, Inc. (NYSE:NYCB – Get Rating) by 5.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 307,325 shares of the financial services provider's stock after selling 17,600 shares during the period. New York Community Bancorp makes up approximately 1.1% of Shikiar Asset Management Inc.'s investment portfolio, making the stock its 25th largest holding. Shikiar Asset Management Inc. owned 0.07% of New York Community Bancorp worth $2,806,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rinkey Investments bought a new stake in New York Community Bancorp during the fourth quarter worth about $26,000. Exchange Traded Concepts LLC acquired a new position in shares of New York Community Bancorp in the first quarter valued at approximately $30,000. CWM LLC grew its position in shares of New York Community Bancorp by 57.1% in the first quarter. CWM LLC now owns 3,675 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 1,335 shares during the last quarter. Fortitude Advisory Group L.L.C. grew its position in shares of New York Community Bancorp by 71.4% in the first quarter. Fortitude Advisory Group L.L.C. now owns 3,818 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 1,591 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of New York Community Bancorp in the first quarter valued at approximately $45,000. 62.84% of the stock is currently owned by institutional investors.
Get New York Community Bancorp alerts:New York Community Bancorp Trading Down 1.2 %
New York Community Bancorp stock traded down $0.11 during trading hours on Friday, reaching $8.91. 10,181,028 shares of the company's stock were exchanged, compared to its average volume of 5,057,183. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 2.26. The firm's 50 day simple moving average is $10.00 and its 200 day simple moving average is $9.88. New York Community Bancorp, Inc. has a twelve month low of $8.50 and a twelve month high of $14.33. The firm has a market capitalization of $4.15 billion, a PE ratio of 7.13, a PEG ratio of 0.69 and a beta of 1.00.
New York Community Bancorp (NYSE:NYCB – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The financial services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.03. New York Community Bancorp had a net margin of 34.72% and a return on equity of 10.00%. The business had revenue of $377.00 million for the quarter, compared to analysts' expectations of $353.96 million. During the same quarter last year, the firm earned $0.33 EPS. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. Research analysts predict that New York Community Bancorp, Inc. will post 1.3 earnings per share for the current year.New York Community Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 18th. Stockholders of record on Monday, August 8th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 7.63%. The ex-dividend date of this dividend was Friday, August 5th. New York Community Bancorp's dividend payout ratio is currently 54.40%.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on NYCB. Keefe, Bruyette & Woods cut New York Community Bancorp from an "outperform" rating to a "market perform" rating and set a $11.00 price target for the company. in a research note on Thursday, June 2nd. B. Riley cut their price target on New York Community Bancorp from $11.00 to $10.00 in a research note on Monday, July 11th. One analyst has rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $10.00.
New York Community Bancorp Profile
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New York Community Bancorp, Inc operates as the bank holding company for New York Community Bank that provides banking products and services in Metro New York, New Jersey, Ohio, Florida, and Arizona. The company accepts various deposit products, such as interest-bearing checking and money market, savings, non-interest-bearing, and individual retirement accounts, as well as certificates of deposit.
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