State Treasurer State of Michigan cut its stake in New York Community Bancorp, Inc. (NYSE:NYCB) by 16.9% during the second quarter, HoldingsChannel reports. The fund owned 138,370 shares of the financial services provider’s stock after selling 28,200 shares during the quarter. State Treasurer State of Michigan’s holdings in New York Community Bancorp were worth $1,381,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Joseph P. Lucia & Associates LLC acquired a new position in New York Community Bancorp during the first quarter worth $125,000. TCI Wealth Advisors Inc. increased its position in New York Community Bancorp by 52.0% during the second quarter. TCI Wealth Advisors Inc. now owns 4,259 shares of the financial services provider’s stock worth $43,000 after buying an additional 1,457 shares during the last quarter. Colrain Capital LLC acquired a new position in New York Community Bancorp during the first quarter worth $93,000. Banco Santander S.A. acquired a new position in New York Community Bancorp during the first quarter worth $129,000. Finally, Hanseatic Management Services Inc. acquired a new position in New York Community Bancorp during the first quarter worth $136,000. 63.03% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:NYCB opened at $11.42 on Wednesday. The firm has a market capitalization of $5.34 billion, a P/E ratio of 14.46, a P/E/G ratio of 1.48 and a beta of 1.00. The company has a 50-day simple moving average of $10.70. New York Community Bancorp, Inc. has a 52-week low of $8.61 and a 52-week high of $12.72. The company has a current ratio of 1.30, a quick ratio of 1.31 and a debt-to-equity ratio of 2.17.

New York Community Bancorp (NYSE:NYCB) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.19. New York Community Bancorp had a return on equity of 6.52% and a net margin of 21.73%. The company had revenue of $255.29 million for the quarter, compared to the consensus estimate of $255.49 million. During the same period last year, the business posted $0.20 earnings per share. Research analysts predict that New York Community Bancorp, Inc. will post 0.78 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Monday, August 12th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 5.95%. The ex-dividend date of this dividend is Friday, August 9th. New York Community Bancorp’s payout ratio is presently 86.08%.

NYCB has been the topic of several analyst reports. TheStreet downgraded shares of New York Community Bancorp from a “b-” rating to a “c+” rating in a research report on Thursday, June 13th. Bank of America set a $13.00 price target on New York Community Bancorp and gave the company a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada initiated coverage on New York Community Bancorp in a research report on Friday, July 12th. They issued an “outperform” rating and a $12.00 price target on the stock. B. Riley set a $13.00 price target on New York Community Bancorp and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised New York Community Bancorp from an “underweight” rating to a “neutral” rating and raised their price target for the company from $9.50 to $11.50 in a research report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. New York Community Bancorp presently has a consensus rating of “Hold” and a consensus price target of $12.20.

New York Community Bancorp Profile

New York Community Bancorp, Inc operates as a 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 offers various deposit products, including interest-bearing checking and money market, savings, non-interest-bearing, and individual retirement accounts, as well as certificates of deposit.

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

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