Bank of Nova Scotia Buys 12,296 Shares of New York Community Bancorp, Inc. (NYSE:NYCB)

Bank of Nova Scotia increased its stake in shares of New York Community Bancorp, Inc. (NYSE:NYCBGet Rating) by 20.5% in the second quarter, Holdings Channel.com reports. The fund owned 72,215 shares of the financial services provider’s stock after purchasing an additional 12,296 shares during the period. Bank of Nova Scotia’s holdings in New York Community Bancorp were worth $659,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Crawford Investment Counsel Inc. boosted its position in shares of New York Community Bancorp by 0.3% during the first quarter. Crawford Investment Counsel Inc. now owns 383,335 shares of the financial services provider’s stock worth $4,109,000 after acquiring an additional 1,180 shares during the last quarter. Titleist Asset Management LTD. boosted its position in shares of New York Community Bancorp by 4.4% during the first quarter. Titleist Asset Management LTD. now owns 32,190 shares of the financial services provider’s stock worth $345,000 after acquiring an additional 1,350 shares during the last quarter. Spire Wealth Management boosted its position in shares of New York Community Bancorp by 2.7% during the second quarter. Spire Wealth Management now owns 51,226 shares of the financial services provider’s stock worth $468,000 after acquiring an additional 1,366 shares during the last quarter. US Bancorp DE boosted its position in shares of New York Community Bancorp by 2.7% during the first quarter. US Bancorp DE now owns 60,084 shares of the financial services provider’s stock worth $644,000 after acquiring an additional 1,587 shares during the last quarter. Finally, Fortitude Advisory Group L.L.C. boosted its position in shares of New York Community Bancorp by 71.4% during the first quarter. Fortitude Advisory Group L.L.C. now owns 3,818 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 1,591 shares during the last quarter. Institutional investors own 62.84% of the company’s stock.

New York Community Bancorp Trading Down 1.1 %

Shares of NYCB opened at $9.36 on Friday. New York Community Bancorp, Inc. has a twelve month low of $8.17 and a twelve month high of $13.56. The company has a market cap of $4.36 billion, a P/E ratio of 7.49, a P/E/G ratio of 0.75 and a beta of 1.03. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 2.21. The company’s fifty day simple moving average is $9.03 and its 200-day simple moving average is $9.45.

New York Community Bancorp (NYSE:NYCBGet Rating) last announced its earnings results on Wednesday, October 26th. The financial services provider reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01). New York Community Bancorp had a net margin of 33.12% and a return on equity of 10.10%. The firm had revenue of $343.00 million during the quarter, compared to analysts’ expectations of $354.48 million. During the same period in the prior year, the company posted $0.31 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. As a group, analysts expect that New York Community Bancorp, Inc. will post 1.26 EPS for the current year.

New York Community Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 17th. Stockholders of record on Monday, November 7th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 7.26%. The ex-dividend date of this dividend was Friday, November 4th. New York Community Bancorp’s dividend payout ratio is currently 54.40%.

Wall Street Analysts Forecast Growth

NYCB has been the topic of a number of recent research reports. Credit Suisse Group decreased their price target on shares of New York Community Bancorp to $9.00 in a research note on Thursday, October 13th. Wedbush reaffirmed a “neutral” rating and set a $10.00 price target on shares of New York Community Bancorp in a research note on Wednesday, September 28th. Compass Point decreased their price target on shares of New York Community Bancorp to $10.00 in a research note on Thursday, October 20th. Finally, StockNews.com initiated coverage on shares of New York Community Bancorp in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $9.83.

Insider Activity

In related news, Director Marshall Lux purchased 6,000 shares of the business’s stock in a transaction dated Friday, September 30th. The shares were purchased at an average cost of $8.63 per share, for a total transaction of $51,780.00. Following the completion of the acquisition, the director now owns 6,000 shares in the company, valued at approximately $51,780. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.58% of the company’s stock.

About New York Community Bancorp

(Get Rating)

New York Community Bancorp, Inc operates as the bank holding company for New York Community Bank that provides banking products and services in Metro New York, New Jersey, Ohio, Florida, and Arizona. The company accepts various deposit products, such as interest-bearing checking and money market, savings, non-interest-bearing, and individual retirement accounts, as well as certificates of deposit.

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Want to see what other hedge funds are holding NYCB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for New York Community Bancorp, Inc. (NYSE:NYCBGet Rating).

Institutional Ownership by Quarter for New York Community Bancorp (NYSE:NYCB)

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