AQR Capital Management LLC Trims Position in New York Community Bancorp, Inc. (NYSE:NYCB)

AQR Capital Management LLC lowered its stake in shares of New York Community Bancorp, Inc. (NYSE:NYCB) by 79.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,523,782 shares of the financial services provider’s stock after selling 5,790,988 shares during the quarter. AQR Capital Management LLC owned about 0.56% of New York Community Bancorp worth $4,769,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in New York Community Bancorp during the 2nd quarter worth $70,000. Xponance Inc. raised its holdings in New York Community Bancorp by 19.7% during the second quarter. Xponance Inc. now owns 104,616 shares of the financial services provider’s stock worth $337,000 after purchasing an additional 17,237 shares in the last quarter. ProShare Advisors LLC lifted its position in New York Community Bancorp by 4.4% in the second 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. Profund Advisors LLC boosted its holdings in New York Community Bancorp by 14.9% in the 2nd quarter. Profund Advisors LLC now owns 73,728 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 9,543 shares in the last quarter. Finally, Summit Trail Advisors LLC acquired a new position in New York Community Bancorp during the 2nd quarter worth approximately $83,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

New York Community Bancorp Price Performance

Shares of NYSE:NYCB opened at $10.90 on Friday. The company has a debt-to-equity ratio of 3.66, a quick ratio of 1.17 and a current ratio of 1.27. The business’s fifty day moving average price is $11.07 and its two-hundred day moving average price is $12.01. The stock has a market cap of $2.98 billion, a PE ratio of 363.33 and a beta of 1.00. New York Community Bancorp, Inc. has a one year low of $5.10 and a one year high of $34.47.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported ($3.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.26) by ($1.89). New York Community Bancorp had a negative net margin of 10.78% and a negative return on equity of 4.49%. The company had revenue of $671.00 million for the quarter, compared to analyst estimates of $722.47 million. During the same period in the previous year, the business earned $4.23 EPS. The firm’s revenue was down 44.2% on a year-over-year basis. On average, analysts forecast that New York Community Bancorp, Inc. will post -2.43 EPS 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. Stockholders of record on Saturday, September 7th were issued a dividend of $0.01 per share. The ex-dividend date was Friday, September 6th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.37%. New York Community Bancorp’s dividend payout ratio (DPR) is presently 133.33%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NYCB shares. Keefe, Bruyette & Woods lifted their price target on New York Community Bancorp from $11.25 to $33.75 and gave the company 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 research note on Friday, July 19th. Wedbush reiterated a “neutral” rating and issued a $31.50 price target on shares of New York Community Bancorp in a report on Friday, July 26th. Raymond James raised shares of New York Community Bancorp from an “underperform” rating to a “market perform” rating in a report on Tuesday, September 17th. Finally, 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 report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $17.77.

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.