Pasadena Private Wealth LLC Acquires New Holdings in New York Community Bancorp, Inc. (NYSE:NYCB)

Pasadena Private Wealth LLC purchased a new stake in New York Community Bancorp, Inc. (NYSE:NYCB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 14,691 shares of the financial services provider’s stock, valued at approximately $165,000.

A number of other institutional investors also recently modified their holdings of NYCB. Lindbrook Capital LLC grew its stake in shares of New York Community Bancorp by 71.5% in the first quarter. Lindbrook Capital LLC now owns 2,984 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 1,244 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of New York Community Bancorp in the second quarter worth $27,000. Lazard Asset Management LLC acquired a new stake in shares of New York Community Bancorp in the fourth quarter worth $29,000. New Hampshire Trust acquired a new stake in shares of New York Community Bancorp in the fourth quarter worth $32,000. Finally, Fifth Third Bancorp grew its stake in shares of New York Community Bancorp by 107.7% in the first quarter. Fifth Third Bancorp now owns 4,315 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 2,237 shares during the last quarter. Institutional investors own 67.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. upgraded shares of New York Community Bancorp from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $13.00 to $16.00 in a research note on Friday, July 28th. Bank of America lifted their price target on New York Community Bancorp from $13.00 to $15.00 in a report on Sunday, July 30th. StockNews.com started coverage on New York Community Bancorp in a report on Thursday, August 17th. They issued a “hold” rating for the company. Morgan Stanley lifted their price target on New York Community Bancorp from $11.00 to $12.00 in a report on Friday, July 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded New York Community Bancorp from a “hold” rating to a “buy” rating and boosted their target price for the stock from $10.00 to $16.00 in a research report on Monday, July 31st. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.25.

New York Community Bancorp Trading Down 0.6 %

New York Community Bancorp stock traded down $0.07 during trading hours on Monday, hitting $11.62. The stock had a trading volume of 1,886,881 shares, compared to its average volume of 12,359,595. The company has a quick ratio of 1.11, a current ratio of 1.14 and a debt-to-equity ratio of 1.55. The stock has a market cap of $8.40 billion, a price-to-earnings ratio of 2.91, a P/E/G ratio of 0.83 and a beta of 1.12. New York Community Bancorp, Inc. has a one year low of $5.81 and a one year high of $14.22. The business’s 50 day simple moving average is $12.28 and its 200-day simple moving average is $10.62.

New York Community Bancorp (NYSE:NYCB) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.15. New York Community Bancorp had a return on equity of 9.29% and a net margin of 43.28%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $851.59 million. On average, equities analysts predict that New York Community Bancorp, Inc. will post 1.44 EPS for the current fiscal year.

New York Community Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 7th were issued a $0.17 dividend. The ex-dividend date was Friday, August 4th. This represents a $0.68 dividend on an annualized basis and a yield of 5.85%. New York Community Bancorp’s payout ratio is currently 16.92%.

Insiders Place Their Bets

In other New York Community Bancorp news, EVP Reginald E. Davis sold 24,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $12.60, for a total value of $302,400.00. Following the completion of the sale, the executive vice president now owns 81,416 shares of the company’s stock, valued at $1,025,841.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.62% of the stock is currently owned by corporate insiders.

New York Community Bancorp Company Profile

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.