Kovitz Investment Group Partners LLC Cuts Stock Position in New York Community Bancorp, Inc. (NYSE:NYCB)

Kovitz Investment Group Partners LLC cut its holdings in New York Community Bancorp, Inc. (NYSE:NYCB) by 2.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 84,491 shares of the financial services provider’s stock after selling 2,216 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in New York Community Bancorp were worth $699,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of NYCB. Clear Harbor Asset Management LLC bought a new stake in New York Community Bancorp in the third quarter worth $25,000. Hoey Investments Inc. bought a new stake in New York Community Bancorp in the third quarter worth $27,000. Community Bank N.A. lifted its position in New York Community Bancorp by 2,342.9% in the third quarter. Community Bank N.A. now owns 4,275 shares of the financial services provider’s stock worth $35,000 after buying an additional 4,100 shares during the last quarter. Acadian Asset Management LLC bought a new stake in New York Community Bancorp in the third quarter worth $61,000. Finally, Captrust Financial Advisors bought a new stake in New York Community Bancorp in the second quarter worth $65,000. 60.75% of the stock is owned by hedge funds and other institutional investors.

NYSE:NYCB opened at $9.07 on Friday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 2.52. The stock has a fifty day simple moving average of $8.48 and a 200-day simple moving average of $9.44. The company has a market cap of $4.21 billion, a price-to-earnings ratio of 10.80, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97. New York Community Bancorp, Inc. has a twelve month low of $7.72 and a twelve month high of $12.37.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $0.23 earnings per share for the quarter, meeting the consensus estimate of $0.23. New York Community Bancorp had a return on equity of 6.69% and a net margin of 23.07%. As a group, equities research analysts predict that New York Community Bancorp, Inc. will post 0.89 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 17th. Investors of record on Saturday, November 7th were issued a $0.17 dividend. The ex-dividend date was Thursday, November 5th. This represents a $0.68 annualized dividend and a dividend yield of 7.50%. New York Community Bancorp’s payout ratio is currently 88.31%.

A number of analysts recently issued reports on NYCB shares. Morgan Stanley upgraded New York Community Bancorp from an “underweight” rating to an “equal weight” rating and set a $9.50 price target for the company in a research report on Friday, November 6th. Credit Suisse Group lowered their price target on New York Community Bancorp from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft raised their price target on New York Community Bancorp from $10.50 to $11.50 and gave the stock a “hold” rating in a research report on Thursday, July 30th. CSFB lowered their price target on New York Community Bancorp from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Wednesday, October 7th. Finally, Piper Sandler decreased their target price on New York Community Bancorp from $12.50 to $10.50 and set an “overweight” rating for the company in a research report on Monday, September 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $11.38.

New York Community Bancorp Company 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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