Addison Capital Co Cuts Stock Position in New York Community Bancorp, Inc. (NYSE:NYCB)

Addison Capital Co lowered its stake in New York Community Bancorp, Inc. (NYSE:NYCB) by 78.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 49,293 shares of the financial services provider’s stock after selling 182,549 shares during the period. Addison Capital Co’s holdings in New York Community Bancorp were worth $554,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legacy Capital Group California Inc. lifted its position 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 acquiring an additional 934 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in New York Community Bancorp by 6.2% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 19,642 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 1,146 shares in the last quarter. CIBC Asset Management Inc lifted its position in 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 valued at $66,000 after acquiring an additional 1,436 shares in the last quarter. Family Asset Management LLC lifted its holdings in shares of New York Community Bancorp by 9.2% during the 2nd 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 during the period. Finally, ProShare Advisors LLC lifted its holdings in shares of New York Community Bancorp by 4.4% during the 2nd quarter. ProShare Advisors LLC now owns 36,769 shares of the financial services provider’s stock valued at $118,000 after buying an additional 1,544 shares during the period. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Analysts Set New Price Targets

NYCB has been the topic of several research analyst reports. Barclays raised New York Community Bancorp from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $10.00 to $14.00 in a report on Thursday, September 26th. StockNews.com raised New York Community Bancorp to a “sell” rating in a report on Friday, July 19th. Raymond James raised New York Community Bancorp from an “underperform” rating to a “market perform” rating in a report on Tuesday, September 17th. Wedbush reissued a “neutral” rating and set a $31.50 price target on shares of New York Community Bancorp in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. raised their target price on New York Community Bancorp from $11.50 to $12.50 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $17.48.

New York Community Bancorp Trading Up 0.1 %

Shares of NYCB stock opened at $12.39 on Friday. The stock has a fifty day simple moving average of $10.94 and a two-hundred day simple moving average of $12.08. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 3.66. New York Community Bancorp, Inc. has a 52-week low of $5.10 and a 52-week high of $34.47.

New York Community Bancorp (NYSE:NYCB) last issued its quarterly earnings data 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). The firm had revenue of $671.00 million for the quarter, compared to analysts’ expectations of $722.47 million. New York Community Bancorp had a negative net margin of 10.78% and a negative return on equity of 4.49%. The company’s revenue for the quarter was down 44.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.23 EPS. As a group, analysts forecast that New York Community Bancorp, Inc. will post -2.41 earnings per share for the current fiscal year.

New York Community Bancorp Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Saturday, September 7th were given a dividend of $0.01 per share. The ex-dividend date was Friday, September 6th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.32%. New York Community Bancorp’s payout ratio is -1.45%.

New York Community Bancorp 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.