MeadowBrook Investment Advisors LLC Makes New $587,000 Investment in New York Community Bancorp, Inc. (NYSE:NYCB)

MeadowBrook Investment Advisors LLC purchased a new position in shares of New York Community Bancorp, Inc. (NYSE:NYCB) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 57,400 shares of the financial services provider’s stock, valued at approximately $587,000.

Other institutional investors also recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its holdings in New York Community Bancorp by 10.4% during the third quarter. Commonwealth Equity Services LLC now owns 311,898 shares of the financial services provider’s stock valued at $3,537,000 after purchasing an additional 29,426 shares during the last quarter. Raymond James & Associates lifted its stake in New York Community Bancorp by 6.9% in the third quarter. Raymond James & Associates now owns 877,182 shares of the financial services provider’s stock worth $9,947,000 after acquiring an additional 56,390 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in New York Community Bancorp by 17.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 393,487 shares of the financial services provider’s stock valued at $4,462,000 after buying an additional 57,159 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of New York Community Bancorp by 22.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 141,153 shares of the financial services provider’s stock valued at $1,601,000 after acquiring an additional 25,788 shares in the last quarter. Finally, Strs Ohio increased its holdings in shares of New York Community Bancorp by 15.2% during the third quarter. Strs Ohio now owns 151,997 shares of the financial services provider’s stock valued at $1,723,000 after acquiring an additional 20,040 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

Insider Buying and Selling

In other news, CEO Thomas R. Cangemi purchased 11,310 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was bought at an average cost of $4.41 per share, for a total transaction of $49,877.10. Following the completion of the acquisition, the chief executive officer now directly owns 69,704 shares of the company’s stock, valued at $307,394.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other New York Community Bancorp news, CEO Thomas R. Cangemi purchased 11,310 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $4.41 per share, with a total value of $49,877.10. Following the completion of the transaction, the chief executive officer now directly owns 69,704 shares of the company’s stock, valued at approximately $307,394.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Marshall Lux acquired 27,100 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were purchased at an average cost of $3.69 per share, with a total value of $99,999.00. Following the acquisition, the director now owns 64,872 shares of the company’s stock, valued at approximately $239,377.68. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 213,410 shares of company stock worth $875,626. Corporate insiders own 1.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Barclays assumed coverage on New York Community Bancorp in a research note on Friday, March 8th. They issued an “equal weight” rating and a $4.00 price target for the company. Deutsche Bank Aktiengesellschaft downgraded New York Community Bancorp from a “buy” rating to a “hold” rating and lowered their price target for the stock from $15.00 to $7.00 in a report on Friday, February 2nd. Royal Bank of Canada cut their price objective on New York Community Bancorp from $5.00 to $4.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 9th. Citigroup lowered their price target on New York Community Bancorp from $5.00 to $3.50 and set a “neutral” rating on the stock in a research note on Thursday, March 7th. Finally, Raymond James lowered New York Community Bancorp from a “market perform” rating to an “underperform” rating and set a $3.00 price target on the stock. in a research note on Monday, March 18th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.39.

New York Community Bancorp Stock Performance

Shares of NYCB traded up $0.08 during mid-day trading on Tuesday, reaching $3.73. 8,343,372 shares of the company’s stock traded hands, compared to its average volume of 33,871,945. The business’s 50-day moving average price is $3.34 and its 200-day moving average price is $6.92. The stock has a market capitalization of $2.98 billion, a P/E ratio of 372.00 and a beta of 0.95. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.17 and a current ratio of 1.18. New York Community Bancorp, Inc. has a 12 month low of $1.70 and a 12 month high of $14.22.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.01. New York Community Bancorp had a return on equity of 2.78% and a net margin of 0.62%. The company had revenue of $633.00 million for the quarter, compared to analysts’ expectations of $776.81 million. During the same quarter in the prior year, the company earned $0.23 earnings per share. The firm’s revenue was down 76.1% on a year-over-year basis. Equities analysts predict that New York Community Bancorp, Inc. will post -0.34 earnings per share for the current year.

New York Community Bancorp Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, June 6th. New York Community Bancorp’s dividend payout ratio is currently 2,000.00%.

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.