American International Group Inc. Cuts Stock Position in New York Community Bancorp, Inc. (NYSE:NYCB)

American International Group Inc. lessened its holdings in New York Community Bancorp, Inc. (NYSE:NYCB) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 975,831 shares of the financial services provider’s stock after selling 41,975 shares during the period. American International Group Inc. owned about 0.14% of New York Community Bancorp worth $9,983,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new position in New York Community Bancorp during the 3rd quarter worth $28,000. Loomis Sayles & Co. L P bought a new stake in New York Community Bancorp in the 3rd quarter valued at about $29,000. Naples Money Management LLC bought a new stake in New York Community Bancorp in the 4th quarter valued at about $30,000. Wetzel Investment Advisors Inc. bought a new stake in shares of New York Community Bancorp during the 4th quarter worth about $40,000. Finally, Quarry LP raised its position in shares of New York Community Bancorp by 585.5% during the 4th quarter. Quarry LP now owns 4,031 shares of the financial services provider’s stock worth $41,000 after buying an additional 3,443 shares in the last quarter. 67.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NYCB shares. Barclays started coverage on shares of New York Community Bancorp in a research note on Friday, March 8th. They issued an “equal weight” rating and a $4.00 price objective on the stock. Citigroup dropped their target price on shares of New York Community Bancorp from $5.00 to $3.50 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. Piper Sandler raised shares of New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $4.00 target price on the stock in a research report on Wednesday, May 1st. Morgan Stanley dropped 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 report on Thursday, March 7th. Finally, Wedbush raised shares of New York Community Bancorp from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $3.00 to $3.50 in a research report on Wednesday, May 1st. Two 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. According to MarketBeat, New York Community Bancorp presently has a consensus rating of “Hold” and a consensus price target of $5.39.

Insider Transactions at New York Community Bancorp

In other news, Director Marshall Lux acquired 27,100 shares of New York Community Bancorp stock in a transaction dated Thursday, March 21st. The stock was acquired at an average cost of $3.69 per share, for a total transaction of $99,999.00. Following the completion of the purchase, the director now owns 64,872 shares of the company’s stock, valued at $239,377.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.38% of the stock is owned by corporate insiders.

New York Community Bancorp Price Performance

NYSE NYCB opened at $3.08 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.27 and a debt-to-equity ratio of 3.39. The stock has a market capitalization of $2.52 billion, a PE ratio of 307.50 and a beta of 0.98. The company has a 50 day moving average price of $3.25 and a two-hundred day moving average price of $5.59. 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 earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. New York Community Bancorp had a net margin of 0.62% and a return on equity of 2.91%. The firm had revenue of $633.00 million during the quarter, compared to analysts’ expectations of $776.81 million. During the same period in the previous year, the company earned $0.23 earnings per share. The company’s revenue was down 76.1% compared to the same quarter last year. As a group, equities analysts predict that New York Community Bancorp, Inc. will post -0.49 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 Monday, June 17th. Stockholders of record on Friday, June 7th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Friday, June 7th. New York Community Bancorp’s payout ratio is 400.00%.

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.