Belpointe Asset Management LLC Takes Position in New York Community Bancorp, Inc. (NYSE:NYCB)

Belpointe Asset Management LLC purchased a new stake in shares of New York Community Bancorp, Inc. (NYSE:NYCB – Get Rating) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,676 shares of the financial services provider’s stock, valued at approximately $40,000.

Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. acquired a new position in New York Community Bancorp in the third quarter worth approximately $25,000. Point72 Hong Kong Ltd acquired a new position in New York Community Bancorp in the second quarter worth approximately $27,000. Quadrant Capital Group LLC grew its position in New York Community Bancorp by 181.0% in the third quarter. Quadrant Capital Group LLC now owns 3,347 shares of the financial services provider’s stock worth $29,000 after buying an additional 2,156 shares during the last quarter. TCI Wealth Advisors Inc. grew its position in New York Community Bancorp by 48.4% in the third quarter. TCI Wealth Advisors Inc. now owns 5,752 shares of the financial services provider’s stock worth $49,000 after buying an additional 1,877 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. grew its position in New York Community Bancorp by 58.3% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 4,750 shares of the financial services provider’s stock worth $51,000 after buying an additional 1,750 shares during the last quarter. Institutional investors own 63.17% of the company’s stock.

Wall Street Analysts Forecast Growth

NYCB has been the topic of several recent research reports. TheStreet upgraded shares of New York Community Bancorp from a “c+” rating to a “b-” rating in a research report on Tuesday, May 16th. Bank of America raised their price objective on shares of New York Community Bancorp from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, April 4th. UBS Group raised their price objective on shares of New York Community Bancorp from $10.00 to $11.50 and gave the stock a “buy” rating in a research note on Tuesday, March 21st. Credit Suisse Group raised their price objective on shares of New York Community Bancorp from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 21st. Finally, Raymond James assumed coverage on shares of New York Community Bancorp in a research note on Wednesday, March 22nd. They issued a “strong-buy” rating and a $13.00 price objective for the company. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.54.

New York Community Bancorp Stock Down 1.8 %

NYCB stock opened at $10.37 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.23 and a debt-to-equity ratio of 2.74. New York Community Bancorp, Inc. has a 1 year low of $5.81 and a 1 year high of $11.21. The company has a fifty day simple moving average of $9.45 and a 200 day simple moving average of $9.20. The firm has a market cap of $7.49 billion, a PE ratio of 2.72, a PEG ratio of 0.85 and a beta of 1.06.

New York Community Bancorp (NYSE:NYCB – Get Rating) last released its quarterly earnings data on Friday, April 28th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23. New York Community Bancorp had a net margin of 49.74% and a return on equity of 8.25%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $623.11 million. During the same quarter in the previous year, the business earned $0.32 EPS. New York Community Bancorp’s quarterly revenue was up 666.8% compared to the same quarter last year. Sell-side analysts anticipate that New York Community Bancorp, Inc. will post 1.25 EPS for the current fiscal year.

New York Community Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Monday, May 8th were issued a $0.17 dividend. The ex-dividend date was Friday, May 5th. This represents a $0.68 annualized dividend and a yield of 6.56%. New York Community Bancorp’s dividend payout ratio (DPR) is presently 17.85%.

New York Community Bancorp Profile

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New York Community Bancorp, Inc is a bank holding company, which engages in the provision of multi-family loans on non-luxury rent-regulated buildings that feature below-market rents. It also offers financial products and services to individuals and businesses. The company was founded on July 20, 1993 and is headquartered in Westbury, NY.