Wolverine Asset Management LLC Purchases New Position in New York Community Bancorp, Inc. (NYSE:NYCB)

Wolverine Asset Management LLC purchased a new stake in New York Community Bancorp, Inc. (NYSE:NYCB) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 49,943 shares of the financial services provider’s stock, valued at approximately $511,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Orion Capital Management LLC purchased a new stake in New York Community Bancorp in the third quarter valued at $28,000. Loomis Sayles & Co. L P purchased a new stake in shares of New York Community Bancorp in the third quarter valued at about $29,000. Naples Money Management LLC purchased a new stake in shares of New York Community Bancorp in the fourth quarter valued at about $30,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of New York Community Bancorp in the third quarter valued at about $35,000. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of New York Community Bancorp in the fourth quarter valued at about $40,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on NYCB shares. Royal Bank of Canada cut their price target on shares of New York Community Bancorp from $5.00 to $4.00 and set a “sector perform” rating for the company in a report on Tuesday, April 9th. Piper Sandler reissued a “neutral” rating and set a $5.00 price target (down from $8.00) on shares of New York Community Bancorp in a report on Friday, March 1st. Wedbush cut their price target on shares of New York Community Bancorp from $3.50 to $3.00 and set an “underperform” rating for the company in a report on Thursday, March 7th. Bank of America lowered shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $8.50 to $5.00 in a research report on Wednesday, February 7th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of New York Community Bancorp from a “buy” rating to a “hold” rating and lowered their price target for the company from $15.00 to $7.00 in a research report on Friday, February 2nd. Three research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.43.

Insiders Place Their Bets

In related news, Director Marshall Lux purchased 27,100 shares of the business’s stock in a transaction on 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 completion of the purchase, the director now directly owns 64,872 shares in the company, valued at approximately $239,377.68. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other New York Community Bancorp news, EVP Lee Matthew Smith bought 25,000 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were acquired at an average price of $4.05 per share, with a total value of $101,250.00. Following the purchase, the executive vice president now owns 1,440,683 shares in the company, valued at approximately $5,834,766.15. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Marshall Lux purchased 27,100 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were purchased at an average cost of $3.69 per share, with a total value of $99,999.00. Following the completion of the acquisition, the director now owns 64,872 shares in the company, valued at approximately $239,377.68. The disclosure for this purchase can be found here. Insiders have purchased a total of 213,410 shares of company stock valued at $875,626 over the last quarter. Company insiders own 1.62% of the company’s stock.

New York Community Bancorp Stock Performance

Shares of NYCB opened at $2.96 on Friday. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.17 and a current ratio of 1.18. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 0.89 and a beta of 0.91. The company’s 50 day simple moving average is $3.51 and its 200 day simple moving average is $7.29. New York Community Bancorp, Inc. has a 1 year low of $1.70 and a 1 year high of $14.22.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.56). The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $935.90 million. New York Community Bancorp had a return on equity of 6.22% and a net margin of 28.96%. During the same period in the prior year, the business earned $0.25 EPS. On average, sell-side analysts predict that New York Community Bancorp, Inc. will post -0.08 EPS for the current year.

New York Community Bancorp Cuts Dividend

The business also recently declared 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. This represents a $0.20 dividend on an annualized basis and a yield of 6.76%. The ex-dividend date was Tuesday, February 13th. New York Community Bancorp’s dividend payout ratio is currently 6.01%.

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.