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

Kessler Investment Group LLC bought a new stake in New York Community Bancorp, Inc. (NYSE:NYCB) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,618 shares of the financial services provider’s stock, valued at approximately $119,000.

Other large investors have also recently bought and sold shares of the company. Renaissance Technologies LLC boosted its stake in New York Community Bancorp by 995.2% in the second quarter. Renaissance Technologies LLC now owns 4,116,786 shares of the financial services provider’s stock valued at $13,256,000 after acquiring an additional 3,740,900 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of New York Community Bancorp by 353.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,830,195 shares of the financial services provider’s stock worth $28,953,000 after buying an additional 2,206,140 shares during the period. Private Management Group Inc. boosted its stake in shares of New York Community Bancorp by 1,639.1% during the first quarter. Private Management Group Inc. now owns 1,899,114 shares of the financial services provider’s stock worth $6,115,000 after buying an additional 1,789,914 shares during the period. WINTON GROUP Ltd acquired a new stake in New York Community Bancorp in the second quarter valued at about $5,401,000. Finally, SG Americas Securities LLC lifted its position in New York Community Bancorp by 302.7% in the second quarter. SG Americas Securities LLC now owns 1,681,490 shares of the financial services provider’s stock valued at $5,414,000 after purchasing an additional 1,263,905 shares during the period. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NYCB. StockNews.com raised shares of New York Community Bancorp to a “sell” rating in a research note on Friday, July 19th. Barclays raised shares of New York Community Bancorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $10.00 to $14.00 in a research note on Thursday, September 26th. Wedbush restated a “neutral” rating and set a $31.50 target price on shares of New York Community Bancorp in a research report on Friday, July 26th. JPMorgan Chase & Co. raised their target price on shares of 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. Finally, Raymond James upgraded shares of New York Community Bancorp from an “underperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, New York Community Bancorp presently has an average rating of “Hold” and an average target price of $17.48.

New York Community Bancorp Stock Down 0.1 %

New York Community Bancorp stock traded down $0.01 during midday trading on Tuesday, hitting $11.68. 807,887 shares of the stock were exchanged, compared to its average volume of 8,294,087. New York Community Bancorp, Inc. has a 1 year low of $5.10 and a 1 year high of $34.47. The company has a debt-to-equity ratio of 3.66, a quick ratio of 1.17 and a current ratio of 1.27. The company has a 50 day moving average price of $11.04 and a two-hundred day moving average price of $12.15.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported ($3.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.26) by ($1.89). New York Community Bancorp had a negative return on equity of 4.49% and a negative net margin of 10.78%. The firm had revenue of $671.00 million for the quarter, compared to analysts’ expectations of $722.47 million. During the same period last year, the firm earned $4.23 EPS. The business’s quarterly revenue was down 44.2% on a year-over-year basis. On average, research analysts anticipate that New York Community Bancorp, Inc. will post -2.41 EPS for the current fiscal year.

New York Community Bancorp Cuts Dividend

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

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.