JPMorgan Chase & Co. Raises Holdings in New York Community Bancorp, Inc. (NYCB)

JPMorgan Chase & Co. raised its position in New York Community Bancorp, Inc. (NYSE:NYCB) by 589.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,443,507 shares of the financial services provider’s stock after buying an additional 1,234,082 shares during the quarter. JPMorgan Chase & Co.’s holdings in New York Community Bancorp were worth $18,810,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of New York Community Bancorp by 14.8% in the first quarter. BlackRock Inc. now owns 56,419,781 shares of the financial services provider’s stock valued at $735,149,000 after buying an additional 7,287,646 shares during the period. Bank of New York Mellon Corp raised its stake in shares of New York Community Bancorp by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 6,845,149 shares of the financial services provider’s stock valued at $89,126,000 after buying an additional 348,451 shares during the period. First Trust Advisors LP raised its stake in shares of New York Community Bancorp by 9.4% in the fourth quarter. First Trust Advisors LP now owns 2,481,362 shares of the financial services provider’s stock valued at $32,307,000 after buying an additional 214,197 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of New York Community Bancorp by 27,738.6% in the first quarter. Robeco Institutional Asset Management B.V. now owns 2,426,691 shares of the financial services provider’s stock valued at $31,625,000 after buying an additional 2,417,974 shares during the period. Finally, Kahn Brothers Group Inc. DE raised its stake in shares of New York Community Bancorp by 16.0% in the first quarter. Kahn Brothers Group Inc. DE now owns 2,203,594 shares of the financial services provider’s stock valued at $28,713,000 after buying an additional 303,207 shares during the period. Hedge funds and other institutional investors own 65.03% of the company’s stock.

Shares of NYSE NYCB opened at $11.50 on Friday. The firm has a market capitalization of $5.66 billion, a PE ratio of 14.20, a P/E/G ratio of 1.42 and a beta of 0.67. New York Community Bancorp, Inc. has a fifty-two week low of $11.35 and a fifty-two week high of $14.53. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.42 and a quick ratio of 1.42.

New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings results on Wednesday, April 25th. The financial services provider reported $0.20 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.20. New York Community Bancorp had a return on equity of 6.81% and a net margin of 26.12%. The company had revenue of $293.16 million during the quarter, compared to analysts’ expectations of $295.51 million. During the same period in the previous year, the business earned $0.21 earnings per share. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. equities research analysts predict that New York Community Bancorp, Inc. will post 0.81 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 22nd. Investors of record on Tuesday, May 8th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 5.91%. The ex-dividend date was Monday, May 7th. New York Community Bancorp’s payout ratio is 83.95%.

NYCB has been the topic of several research reports. UBS Group initiated coverage on New York Community Bancorp in a research note on Wednesday, March 21st. They issued a “sell” rating and a $12.00 target price on the stock. Zacks Investment Research lowered New York Community Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Sandler O’Neill reiterated a “buy” rating and issued a $16.00 price target on shares of New York Community Bancorp in a research report on Monday, March 26th. TheStreet cut New York Community Bancorp from a “b-” rating to a “c” rating in a research report on Thursday, March 22nd. Finally, Morgan Stanley reduced their price target on New York Community Bancorp from $14.75 to $13.50 and set an “equal weight” rating for the company in a research report on Friday, April 27th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $13.05.

About New York Community Bancorp

New York Community Bancorp, Inc operates as a holding company for New York Community Bank and New York Commercial Bank that offer banking products and financial services in Metro New York, New Jersey, Ohio, Florida, and Arizona. The company offers various deposit products that include checking and savings accounts, individual retirement accounts, certificates of deposit, NOW and money market accounts, and non-interest-bearing accounts.

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Institutional Ownership by Quarter for New York Community Bancorp (NYSE:NYCB)

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