Lazari Capital Management Inc. Sells 1,600 Shares of New York Community Bancorp, Inc. (NYSE:NYCB)

Lazari Capital Management Inc. lowered its stake in New York Community Bancorp, Inc. (NYSE:NYCB) by 9.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,225 shares of the financial services provider’s stock after selling 1,600 shares during the quarter. Lazari Capital Management Inc.’s holdings in New York Community Bancorp were worth $49,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Legacy Capital Group California Inc. raised its holdings 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 buying an additional 934 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in New York Community Bancorp by 6.2% during 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 purchasing an additional 1,146 shares during the period. CIBC Asset Management Inc increased its position in New York Community Bancorp by 7.6% during the 2nd quarter. CIBC Asset Management Inc now owns 20,405 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 1,436 shares during the period. Family Asset Management LLC increased its position in 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 purchasing an additional 1,510 shares during the period. Finally, ProShare Advisors LLC increased its position in 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 purchasing an additional 1,544 shares during the period. Institutional investors own 67.88% of the company’s stock.

New York Community Bancorp Stock Performance

NYSE NYCB opened at $10.78 on Wednesday. The company’s 50 day moving average is $12.39 and its 200-day moving average is $8.00. New York Community Bancorp, Inc. has a 12-month low of $5.10 and a 12-month 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 firm has a market cap of $2.95 billion, a P/E ratio of 359.33 and a beta of 1.00.

New York Community Bancorp (NYSE:NYCB) last posted its earnings results 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 the consensus estimate of $722.47 million. New York Community Bancorp had a negative return on equity of 4.49% and a negative net margin of 10.78%. The business’s revenue was down 44.2% on a year-over-year basis. During the same period last year, the company posted $4.23 EPS. Sell-side analysts predict that New York Community Bancorp, Inc. will post -2.43 earnings per share for the current year.

New York Community Bancorp Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Saturday, September 7th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date was Friday, September 6th. New York Community Bancorp’s dividend payout ratio (DPR) is presently 133.33%.

Analyst Ratings Changes

A number of analysts have weighed in on NYCB shares. Barclays raised shares of New York Community Bancorp from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $10.00 to $14.00 in a research report on Thursday, September 26th. Raymond James upgraded shares of New York Community Bancorp from an “underperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. Keefe, Bruyette & Woods boosted their target price on shares of New York Community Bancorp from $11.25 to $33.75 and gave the company a “market perform” rating in a research report on Monday, July 15th. Citigroup raised their price target on shares of New York Community Bancorp from $3.50 to $4.00 and gave the stock a “neutral” rating in a report on Wednesday, July 3rd. Finally, StockNews.com upgraded shares of New York Community Bancorp to a “sell” rating in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.70.

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.