Quarry LP Raises Stake in New York Community Bancorp, Inc. (NYSE:NYCB)

Quarry LP boosted its holdings in shares of New York Community Bancorp, Inc. (NYSE:NYCB) by 585.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,031 shares of the financial services provider’s stock after buying an additional 3,443 shares during the quarter. Quarry LP’s holdings in New York Community Bancorp were worth $41,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Greenlight Capital Inc. lifted its position in New York Community Bancorp by 6.0% during the fourth quarter. Greenlight Capital Inc. now owns 1,828,730 shares of the financial services provider’s stock valued at $18,708,000 after purchasing an additional 104,320 shares during the period. BHZ Capital Management LP grew its holdings in New York Community Bancorp by 62.8% during the fourth quarter. BHZ Capital Management LP now owns 362,989 shares of the financial services provider’s stock worth $3,713,000 after acquiring an additional 140,039 shares during the period. Caas Capital Management LP purchased a new position in New York Community Bancorp during the fourth quarter valued at approximately $147,000. Quadrature Capital Ltd acquired a new position in New York Community Bancorp in the fourth quarter valued at approximately $1,099,000. Finally, Petiole USA ltd boosted its position in New York Community Bancorp by 29.5% in the 4th quarter. Petiole USA ltd now owns 200,672 shares of the financial services provider’s stock worth $2,053,000 after purchasing an additional 45,672 shares in the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

New York Community Bancorp Price Performance

New York Community Bancorp stock opened at $3.05 on Monday. The company has a 50-day moving average price of $3.26 and a 200 day moving average price of $5.68. New York Community Bancorp, Inc. has a 12-month low of $1.70 and a 12-month high of $14.22. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 3.39. The stock has a market cap of $2.50 billion, a P/E ratio of 305.00 and a beta of 0.98.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings data on Wednesday, May 1st. The financial services provider reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. New York Community Bancorp had a return on equity of 2.91% and a net margin of 0.62%. The firm had revenue of $633.00 million for the quarter, compared to analysts’ expectations of $776.81 million. During the same period in the prior year, the firm posted $0.23 earnings per share. The firm’s quarterly revenue was down 76.1% on a year-over-year basis. Sell-side analysts anticipate that New York Community Bancorp, Inc. will post -0.49 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. Shareholders of record on Friday, June 7th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Friday, June 7th. New York Community Bancorp’s dividend payout ratio is presently 400.00%.

Insiders Place Their Bets

In other New York Community Bancorp news, Director Marshall Lux bought 27,100 shares of the business’s stock in a transaction that occurred on 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 purchase, the director now directly owns 64,872 shares in the company, valued at $239,377.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.38% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Royal Bank of Canada decreased their target price on shares of New York Community Bancorp from $5.00 to $4.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 9th. Morgan Stanley lowered their target price on shares of New York Community Bancorp from $6.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 7th. StockNews.com upgraded New York Community Bancorp to a “sell” rating in a research note on Monday, April 29th. Raymond James lowered New York Community Bancorp from a “market perform” rating to an “underperform” rating and set a $3.00 price objective on the stock. in a report on Monday, March 18th. Finally, Piper Sandler upgraded New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $4.00 price objective for the company in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.39.

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.