Cetera Investment Advisers Boosts Holdings in New York Community Bancorp, Inc. (NYSE:NYCB)

Cetera Investment Advisers raised its stake in shares of New York Community Bancorp, Inc. (NYSE:NYCB - Free Report) by 24.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 385,449 shares of the financial services provider's stock after acquiring an additional 74,811 shares during the quarter. Cetera Investment Advisers owned approximately 0.11% of New York Community Bancorp worth $1,241,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Point72 Asset Management L.P. grew its position in shares of New York Community Bancorp by 279.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 740,521 shares of the financial services provider's stock worth $2,384,000 after buying an additional 545,321 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in New York Community Bancorp by 16.8% in the second quarter. B. Riley Wealth Advisors Inc. now owns 111,384 shares of the financial services provider's stock valued at $359,000 after acquiring an additional 16,015 shares in the last quarter. Magnolia Capital Advisors LLC purchased a new position in New York Community Bancorp in the second quarter worth $41,000. Algert Global LLC grew its holdings in New York Community Bancorp by 144.5% in the second quarter. Algert Global LLC now owns 461,902 shares of the financial services provider's stock worth $1,487,000 after purchasing an additional 273,002 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of New York Community Bancorp by 49.8% during the second quarter. The Manufacturers Life Insurance Company now owns 949,821 shares of the financial services provider's stock worth $3,058,000 after purchasing an additional 315,960 shares in the last quarter. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NYCB. JPMorgan Chase & Co. raised their price objective on New York Community Bancorp from $11.50 to $12.50 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. Citigroup upped their price objective on shares of New York Community Bancorp from $10.50 to $12.00 and gave the company a "neutral" rating in a report on Wednesday, July 3rd. Wedbush reiterated a "neutral" rating and issued a $31.50 target price on shares of New York Community Bancorp in a research note on Friday, July 26th. Keefe, Bruyette & Woods upped their price target 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. Finally, Raymond James upgraded shares of New York Community Bancorp from an "underperform" rating to a "market perform" rating in a research note on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $17.48.

New York Community Bancorp Stock Performance

Shares of NYCB traded down $0.01 during mid-day trading on Thursday, reaching $12.38. The company had a trading volume of 3,683,411 shares, compared to its average volume of 8,361,972. The stock has a 50 day moving average of $10.88 and a two-hundred day moving average of $12.08. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 3.66. The stock has a market capitalization of $3.39 billion, a P/E ratio of 412.67 and a beta of 1.00. New York Community Bancorp, Inc. has a 52-week low of $5.10 and a 52-week high of $34.47.

New York Community Bancorp (NYSE:NYCB - Get Free Report) last posted its earnings results 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 firm had revenue of $671.00 million for the quarter, compared to analysts' expectations 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%. New York Community Bancorp's revenue for the quarter was down 44.2% compared to the same quarter last year. During the same period last year, the firm earned $4.23 earnings per share. On average, analysts expect that New York Community Bancorp, Inc. will post -2.42 earnings per share 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 given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend was Friday, September 6th. New York Community Bancorp's dividend payout ratio (DPR) is presently 133.33%.

New York Community Bancorp 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.