Zurcher Kantonalbank Zurich Cantonalbank Has $1.27 Million Stock Position in New York Community Bancorp, Inc. (NYSE:NYCB)

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in shares of New York Community Bancorp, Inc. (NYSE:NYCB) by 11.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,359 shares of the financial services provider’s stock after selling 16,794 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in New York Community Bancorp were worth $1,272,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Mackenzie Financial Corp acquired a new position in shares of New York Community Bancorp during the fourth quarter valued at about $287,000. Cullen Investment Group LTD. purchased a new position in New York Community Bancorp during the fourth quarter worth about $282,000. Louisiana State Employees Retirement System purchased a new position in New York Community Bancorp during the fourth quarter worth about $2,076,000. Saxony Capital Management LLC purchased a new position in New York Community Bancorp during the fourth quarter worth about $104,000. Finally, Koshinski Asset Management Inc. boosted its holdings in New York Community Bancorp by 68.8% during the fourth quarter. Koshinski Asset Management Inc. now owns 18,000 shares of the financial services provider’s stock worth $184,000 after purchasing an additional 7,339 shares during the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

New York Community Bancorp Stock Performance

NYSE NYCB opened at $2.96 on Friday. The company’s 50 day moving average is $3.51 and its 200-day moving average is $7.29. New York Community Bancorp, Inc. has a 12-month low of $1.70 and a 12-month high of $14.22. The company has a quick ratio of 1.17, a current ratio of 1.18 and a debt-to-equity ratio of 2.70. The firm has a market cap of $2.36 billion, a P/E ratio of 0.89 and a beta of 0.91.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.56). The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $935.90 million. New York Community Bancorp had a net margin of 28.96% and a return on equity of 6.22%. During the same period last year, the firm earned $0.25 EPS. Sell-side analysts predict that New York Community Bancorp, Inc. will post -0.08 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 Wednesday, February 28th. Investors of record on Wednesday, February 14th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 6.76%. The ex-dividend date of this dividend was Tuesday, February 13th. New York Community Bancorp’s dividend payout ratio (DPR) is presently 6.01%.

Insider Buying and Selling

In other news, Director Marshall Lux bought 27,100 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were acquired at an average price of $3.69 per share, with a total value of $99,999.00. Following the acquisition, the director now owns 64,872 shares of the company’s stock, valued at approximately $239,377.68. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Lee Matthew Smith purchased 25,000 shares of the business’s stock in a transaction on Friday, February 9th. The stock was acquired at an average price of $4.05 per share, with a total value of $101,250.00. Following the purchase, the executive vice president now directly owns 1,440,683 shares in the company, valued at $5,834,766.15. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Marshall Lux purchased 27,100 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was bought at an average cost of $3.69 per share, with a total value of $99,999.00. Following the purchase, the director now owns 64,872 shares in the company, valued at $239,377.68. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 213,410 shares of company stock valued at $875,626. Company insiders own 1.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NYCB shares. Compass Point cut shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and cut their price target for the stock from $16.00 to $8.00 in a report on Thursday, February 1st. TheStreet cut shares of New York Community Bancorp from a “b-” rating to a “c+” rating in a report on Monday, February 5th. JPMorgan Chase & Co. cut shares of New York Community Bancorp from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $11.50 to $5.50 in a report on Wednesday, February 7th. Royal Bank of Canada lowered their price objective on shares of New York Community Bancorp from $5.00 to $4.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 9th. Finally, Bank of America lowered shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $8.50 to $5.00 in a research report on Wednesday, February 7th. Three analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. Based on data from MarketBeat.com, New York Community Bancorp has an average rating of “Hold” and an average price target of $5.43.

New York Community Bancorp 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.