Mirae Asset Global Investments Co. Ltd. Trims Position in New York Community Bancorp, Inc. (NYSE:NYCB)

Mirae Asset Global Investments Co. Ltd. decreased its position in shares of New York Community Bancorp, Inc. (NYSE:NYCB) by 1.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,526,875 shares of the financial services provider’s stock after selling 29,459 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.21% of New York Community Bancorp worth $15,620,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wellington Management Group LLP increased its position in New York Community Bancorp by 7.5% during the third quarter. Wellington Management Group LLP now owns 67,668,954 shares of the financial services provider’s stock worth $767,366,000 after purchasing an additional 4,723,876 shares during the last quarter. Vanguard Group Inc. increased its position in New York Community Bancorp by 1.0% during the third quarter. Vanguard Group Inc. now owns 44,302,719 shares of the financial services provider’s stock worth $377,902,000 after purchasing an additional 444,458 shares during the last quarter. State Street Corp increased its position in New York Community Bancorp by 61.4% during the first quarter. State Street Corp now owns 35,348,227 shares of the financial services provider’s stock worth $319,548,000 after purchasing an additional 13,450,558 shares during the last quarter. Geode Capital Management LLC increased its position in New York Community Bancorp by 3.6% during the first quarter. Geode Capital Management LLC now owns 9,577,580 shares of the financial services provider’s stock worth $86,581,000 after purchasing an additional 336,233 shares during the last quarter. Finally, Brandywine Global Investment Management LLC increased its position in shares of New York Community Bancorp by 30.0% in the first quarter. Brandywine Global Investment Management LLC now owns 7,932,246 shares of the financial services provider’s stock worth $71,708,000 after acquiring an additional 1,829,923 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

Analyst Upgrades and Downgrades

NYCB has been the subject of several recent research reports. Royal Bank of Canada dropped their price objective on shares of New York Community Bancorp from $5.00 to $4.00 and set a “sector perform” rating for the company in a research report on Tuesday. Compass Point lowered shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $16.00 to $8.00 in a research report on Thursday, February 1st. Morgan Stanley dropped their price objective on shares of New York Community Bancorp from $6.00 to $4.00 and set an “equal weight” rating for the company in a research report on Thursday, March 7th. Piper Sandler reissued a “neutral” rating and issued a $5.00 price objective (down previously from $8.00) on shares of New York Community Bancorp in a research report on Friday, March 1st. Finally, Wedbush dropped their price objective on shares of New York Community Bancorp from $3.50 to $3.00 and set an “underperform” rating for the company in a research report on Thursday, March 7th. Three equities research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company’s stock. According to MarketBeat, New York Community Bancorp presently has an average rating of “Hold” and a consensus price target of $5.43.

New York Community Bancorp Stock Down 8.1 %

NYCB stock opened at $2.96 on Thursday. The stock has a market cap of $2.36 billion, a PE ratio of 0.89, a price-to-earnings-growth ratio of 4.65 and a beta of 0.91. 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’s 50-day simple moving average is $4.04 and its 200 day simple moving average is $7.97. New York Community Bancorp, Inc. has a fifty-two week low of $1.70 and a fifty-two week high of $14.22.

New York Community Bancorp (NYSE:NYCB) last released its earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) EPS for the quarter, missing the consensus estimate of $0.29 by ($0.56). The company had revenue of $1.59 billion for the quarter, compared to analyst estimates 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 in the previous year, the business posted $0.25 EPS. As a group, sell-side analysts predict that New York Community Bancorp, Inc. will post 0.07 EPS for the current year.

New York Community Bancorp Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.20 annualized dividend and a yield of 6.76%. New York Community Bancorp’s payout ratio is 6.01%.

Insider Buying and Selling at New York Community Bancorp

In related news, CEO Thomas R. Cangemi bought 11,310 shares of the stock in a transaction on Friday, February 9th. The shares were purchased at an average price of $4.41 per share, with a total value of $49,877.10. Following the purchase, the chief executive officer now owns 69,704 shares in the company, valued at $307,394.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other New York Community Bancorp news, Director Marshall Lux acquired 27,100 shares of the stock in a transaction dated Thursday, March 21st. The shares were bought at an average price of $3.69 per share, with a total value of $99,999.00. Following the purchase, the director now directly owns 64,872 shares of the company’s stock, valued at approximately $239,377.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Thomas R. Cangemi acquired 11,310 shares of the stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $4.41 per share, for a total transaction of $49,877.10. Following the purchase, the chief executive officer now directly owns 69,704 shares in the company, valued at $307,394.64. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 213,410 shares of company stock valued at $875,626. Company insiders own 1.62% of the company’s stock.

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.