Bfsg LLC Makes New Investment in New York Community Bancorp, Inc. (NYSE:NYCB)

Bfsg LLC acquired a new stake in shares of New York Community Bancorp, Inc. (NYSE:NYCB) during the third quarter, according to its most recent filing with the SEC. The fund acquired 13,897 shares of the financial services provider’s stock, valued at approximately $156,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bank of New York Mellon Corp grew its holdings in shares of New York Community Bancorp by 9.6% during the second quarter. Bank of New York Mellon Corp now owns 9,654,656 shares of the financial services provider’s stock valued at $31,088,000 after buying an additional 844,785 shares during the last quarter. Kahn Brothers Group Inc. lifted its holdings in shares of New York Community Bancorp by 0.9% during the 1st quarter. Kahn Brothers Group Inc. now owns 6,213,289 shares of the financial services provider’s stock valued at $20,007,000 after buying an additional 53,275 shares during the period. Renaissance Technologies LLC boosted its stake in shares of New York Community Bancorp by 995.2% in the 2nd quarter. Renaissance Technologies LLC now owns 4,116,786 shares of the financial services provider’s stock worth $13,256,000 after buying an additional 3,740,900 shares during the last quarter. Private Management Group Inc. grew its holdings in shares of New York Community Bancorp by 69.4% in the second quarter. Private Management Group Inc. now owns 3,216,505 shares of the financial services provider’s stock worth $10,357,000 after acquiring an additional 1,317,391 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of New York Community Bancorp by 353.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,830,195 shares of the financial services provider’s stock valued at $28,953,000 after purchasing an additional 2,206,140 shares during the period. 67.88% of the stock is currently owned by institutional investors.

New York Community Bancorp Stock Down 0.1 %

Shares of NYSE:NYCB opened at $12.38 on Friday. The company has a 50 day moving average of $10.94 and a two-hundred day moving average of $12.08. New York Community Bancorp, Inc. has a 52-week low of $5.10 and a 52-week high of $34.47. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 3.66. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 412.67 and a beta of 1.00.

New York Community Bancorp (NYSE:NYCB) last released its 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 return on equity of 4.49% and a negative net margin of 10.78%. The company had revenue of $671.00 million during the quarter, compared to the consensus estimate of $722.47 million. During the same period in the previous year, the firm posted $4.23 EPS. New York Community Bancorp’s revenue for the quarter was down 44.2% on a year-over-year basis. As a group, analysts forecast that New York Community Bancorp, Inc. will post -2.42 earnings per share for the current fiscal year.

New York Community Bancorp Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Saturday, September 7th were paid a $0.01 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.04 annualized dividend and a dividend yield of 0.32%. New York Community Bancorp’s payout ratio is currently 133.33%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NYCB. Keefe, Bruyette & Woods lifted their price target on shares of New York Community Bancorp from $11.25 to $33.75 and gave the stock a “market perform” rating in a research note on Monday, July 15th. StockNews.com raised shares of New York Community Bancorp to a “sell” rating in a report on Friday, July 19th. Wedbush restated a “neutral” rating and issued a $31.50 price target on shares of New York Community Bancorp in a research report on Friday, July 26th. Raymond James upgraded New York Community Bancorp from an “underperform” rating to a “market perform” rating in a report on Tuesday, September 17th. 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 report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average 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.