Sterneck Capital Management LLC Grows Stake in New York Community Bancorp, Inc. (NYCB)

Sterneck Capital Management LLC boosted its stake in New York Community Bancorp, Inc. (NYSE:NYCB) by 17.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 176,200 shares of the financial services provider’s stock after acquiring an additional 26,730 shares during the period. New York Community Bancorp accounts for 1.4% of Sterneck Capital Management LLC’s investment portfolio, making the stock its 29th largest holding. Sterneck Capital Management LLC’s holdings in New York Community Bancorp were worth $2,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in New York Community Bancorp by 2.3% in the second quarter. Vanguard Group Inc. now owns 40,770,549 shares of the financial services provider’s stock valued at $535,317,000 after acquiring an additional 910,170 shares during the last quarter. State Street Corp boosted its holdings in New York Community Bancorp by 1.8% in the second quarter. State Street Corp now owns 21,898,657 shares of the financial services provider’s stock valued at $287,534,000 after acquiring an additional 376,921 shares during the last quarter. Alecta Pensionsforsakring Omsesidigt boosted its holdings in New York Community Bancorp by 176.3% in the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 10,500,000 shares of the financial services provider’s stock valued at $137,865,000 after acquiring an additional 6,700,000 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in New York Community Bancorp by 6.7% in the second quarter. Renaissance Technologies LLC now owns 10,289,400 shares of the financial services provider’s stock valued at $135,100,000 after acquiring an additional 642,723 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in New York Community Bancorp by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 6,260,906 shares of the financial services provider’s stock valued at $82,205,000 after acquiring an additional 96,814 shares during the last quarter. Institutional investors and hedge funds own 57.49% of the company’s stock.

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Shares of New York Community Bancorp, Inc. (NYSE NYCB) traded down 0.08% during trading on Friday, reaching $12.80. The company’s stock had a trading volume of 964,045 shares. The stock has a market cap of $6.26 billion, a price-to-earnings ratio of 13.93 and a beta of 0.58. The stock’s 50 day moving average price is $12.43 and its 200-day moving average price is $12.95. New York Community Bancorp, Inc. has a 52-week low of $11.67 and a 52-week high of $17.68.

New York Community Bancorp (NYSE:NYCB) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03. The firm had revenue of $338.21 million for the quarter, compared to analyst estimates of $326.36 million. New York Community Bancorp had a return on equity of 7.46% and a net margin of 25.67%. During the same period last year, the company earned $0.26 EPS. Equities analysts anticipate that New York Community Bancorp, Inc. will post $0.78 EPS for the current year.

Several analysts recently commented on the company. BidaskClub cut New York Community Bancorp from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Zacks Investment Research cut New York Community Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, September 27th. Piper Jaffray Companies set a $11.00 target price on New York Community Bancorp and gave the company a “sell” rating in a report on Thursday, August 17th. Barclays PLC reduced their target price on New York Community Bancorp from $14.00 to $12.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $13.75 target price (down from $14.00) on shares of New York Community Bancorp in a report on Friday, July 7th. Three equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $12.45.

New York Community Bancorp Profile

New York Community Bancorp, Inc is a multi-bank holding company. The Company operates through its subsidiaries, New York Community Bank (the Community Bank) and New York Commercial Bank (the Commercial Bank) (collectively, the Banks). The Company’s operations are divided into two segments: Banking Operations and Residential Mortgage Banking.

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

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