Kessler Investment Group LLC Acquires New Position in New York Community Bancorp, Inc. (NYSE:NYCB)

Kessler Investment Group LLC acquired a new stake in shares of New York Community Bancorp, Inc. (NYSE:NYCB) in the third quarter, HoldingsChannel reports. The fund acquired 10,618 shares of the financial services provider’s stock, valued at approximately $119,000.

A number of other institutional investors have also modified their holdings of the business. Legacy Capital Group California Inc. grew its position in shares of New York Community Bancorp by 1.2% during the 2nd quarter. Legacy Capital Group California Inc. now owns 81,618 shares of the financial services provider’s stock valued at $263,000 after buying an additional 934 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of New York Community Bancorp by 6.2% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 19,642 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 1,146 shares during the period. CIBC Asset Management Inc raised its holdings in shares of New York Community Bancorp by 7.6% during the second quarter. CIBC Asset Management Inc now owns 20,405 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 1,436 shares during the period. Family Asset Management LLC raised its holdings in shares of New York Community Bancorp by 9.2% during the second quarter. Family Asset Management LLC now owns 18,010 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 1,510 shares during the period. Finally, ProShare Advisors LLC raised its holdings in shares of New York Community Bancorp by 4.4% during the second quarter. ProShare Advisors LLC now owns 36,769 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 1,544 shares during the period. Institutional investors own 67.88% of the company’s stock.

Wall Street Analysts Forecast Growth

NYCB has been the topic of several research reports. Keefe, Bruyette & Woods upped their price objective on shares of New York Community Bancorp from $11.25 to $33.75 and gave the company a “market perform” rating in a research note on Monday, July 15th. Wedbush reaffirmed a “neutral” rating and set a $31.50 price objective on shares of New York Community Bancorp in a report on Friday, July 26th. Citigroup upped their price objective on shares of New York Community Bancorp from $10.50 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, July 3rd. JPMorgan Chase & Co. upped their price objective on shares of New York Community Bancorp from $11.50 to $12.50 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, StockNews.com raised shares of New York Community Bancorp to a “sell” rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, New York Community Bancorp has a consensus rating of “Hold” and an average target price of $17.48.

New York Community Bancorp Stock Down 0.1 %

Shares of New York Community Bancorp stock traded down $0.01 during mid-day trading on Tuesday, reaching $11.68. 807,887 shares of the stock were exchanged, compared to its average volume of 8,294,087. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 3.66. New York Community Bancorp, Inc. has a fifty-two week low of $5.10 and a fifty-two week high of $34.47. The firm has a 50-day simple moving average of $11.04 and a 200 day simple moving average of $12.15.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported ($3.15) earnings per share for the quarter, missing the consensus estimate of ($1.26) by ($1.89). The company had revenue of $671.00 million during the quarter, compared to analyst estimates of $722.47 million. New York Community Bancorp had a negative net margin of 10.78% and a negative return on equity of 4.49%. The company’s revenue was down 44.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.23 EPS. Analysts expect that New York Community Bancorp, Inc. will post -2.41 EPS for the current year.

New York Community Bancorp Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Saturday, September 7th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Friday, September 6th. New York Community Bancorp’s dividend payout ratio (DPR) is presently -1.45%.

About New York Community Bancorp

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.