12,568 Shares in New York Community Bancorp, Inc. (NYSE:NYCB) Acquired by Traynor Capital Management Inc.

Traynor Capital Management Inc. acquired a new position in New York Community Bancorp, Inc. (NYSE:NYCB) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,568 shares of the financial services provider’s stock, valued at approximately $40,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Lloyd Advisory Services LLC. grew its position in New York Community Bancorp by 602.4% in the first quarter. Lloyd Advisory Services LLC. now owns 77,910 shares of the financial services provider’s stock worth $251,000 after acquiring an additional 66,818 shares during the period. International Assets Investment Management LLC lifted its stake in New York Community Bancorp by 71.0% during the first quarter. International Assets Investment Management LLC now owns 80,918 shares of the financial services provider’s stock worth $260,000 after purchasing an additional 33,594 shares in the last quarter. Sanders Morris Harris LLC acquired a new position in New York Community Bancorp during the first quarter worth $99,000. BTC Capital Management Inc. acquired a new position in New York Community Bancorp during the first quarter worth $32,000. Finally, Fulton Bank N.A. acquired a new position in New York Community Bancorp during the first quarter worth $111,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

New York Community Bancorp Price Performance

NYCB stock opened at $3.10 on Tuesday. The firm has a 50 day moving average of $3.26 and a 200-day moving average of $5.40. 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 company has a market cap of $2.54 billion, a price-to-earnings ratio of 310.00 and a beta of 0.98.

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 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 company had revenue of $633.00 million during the quarter, compared to the consensus estimate of $776.81 million. During the same period last year, the firm earned $0.23 EPS. The company’s revenue for the quarter was down 76.1% on a year-over-year basis. As a group, equities analysts expect that New York Community Bancorp, Inc. will post -0.49 EPS for the current fiscal year.

New York Community Bancorp Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, June 7th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.04 annualized dividend and a dividend yield of 1.29%. New York Community Bancorp’s dividend payout ratio is currently 400.00%.

Wall Street Analyst Weigh In

NYCB has been the topic of several analyst reports. Royal Bank of Canada reduced their price objective on New York Community Bancorp from $5.00 to $4.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 9th. 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. Wedbush raised New York Community Bancorp from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $3.00 to $3.50 in a report on Wednesday, May 1st. Barclays dropped their price objective on New York Community Bancorp from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, Piper Sandler raised New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $4.00 price objective on the stock in a 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’s stock. Based on data from MarketBeat.com, New York Community Bancorp currently has a consensus 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.