CIBC Asset Management Inc Sells 968 Shares of New York Community Bancorp, Inc. (NYCB)

CIBC Asset Management Inc cut its holdings in New York Community Bancorp, Inc. (NYSE:NYCB) by 3.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,772 shares of the financial services provider’s stock after selling 968 shares during the period. CIBC Asset Management Inc’s holdings in New York Community Bancorp were worth $344,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Joseph P. Lucia & Associates LLC bought a new stake in New York Community Bancorp in the first quarter worth $125,000. First Mercantile Trust Co. increased its position in shares of New York Community Bancorp by 129.6% in the fourth quarter. First Mercantile Trust Co. now owns 3,100 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 1,750 shares during the period. Advisory Services Network LLC increased its position in shares of New York Community Bancorp by 20.1% in the fourth quarter. Advisory Services Network LLC now owns 5,960 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 999 shares during the period. JOYN Advisors Inc. increased its position in shares of New York Community Bancorp by 140.2% in the fourth quarter. JOYN Advisors Inc. now owns 6,054 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 3,534 shares during the period. Finally, Wealthcare Advisory Partners LLC increased its position in shares of New York Community Bancorp by 42.1% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 6,750 shares of the financial services provider’s stock valued at $64,000 after acquiring an additional 2,000 shares during the period. 65.07% of the stock is owned by institutional investors and hedge funds.

In related news, Director Dominick Ciampa purchased 34,000 shares of New York Community Bancorp stock in a transaction that occurred on Wednesday, March 27th. The shares were bought at an average price of $11.61 per share, for a total transaction of $394,740.00. Following the completion of the transaction, the director now directly owns 7,508 shares of the company’s stock, valued at $87,167.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hanif Dahya purchased 1,640 shares of New York Community Bancorp stock in a transaction that occurred on Thursday, May 9th. The shares were bought at an average price of $26.31 per share, for a total transaction of $43,148.40. The disclosure for this purchase can be found here. 3.31% of the stock is owned by insiders.

NYCB stock opened at $10.18 on Friday. New York Community Bancorp, Inc. has a 12-month low of $8.61 and a 12-month high of $12.72. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 1.31 and a beta of 0.97. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.31 and a current ratio of 1.31.

New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. New York Community Bancorp had a net margin of 22.65% and a return on equity of 6.65%. The company had revenue of $266.11 million for the quarter, compared to analysts’ expectations of $268.24 million. During the same quarter in the previous year, the company earned $0.20 earnings per share. New York Community Bancorp’s quarterly revenue was down 9.2% on a year-over-year basis. As a group, equities analysts predict that New York Community Bancorp, Inc. will post 0.79 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 6.68%. The ex-dividend date is Monday, May 13th. New York Community Bancorp’s dividend payout ratio is currently 86.08%.

NYCB has been the topic of a number of analyst reports. B. Riley restated a “neutral” rating on shares of New York Community Bancorp in a research report on Wednesday, April 10th. Zacks Investment Research cut shares of New York Community Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, April 2nd. Jefferies Financial Group initiated coverage on shares of New York Community Bancorp in a research report on Monday, April 8th. They issued a “hold” rating and a $12.00 price objective on the stock. UBS Group upgraded shares of New York Community Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $10.00 to $15.00 in a research report on Wednesday, February 6th. Finally, Morgan Stanley cut shares of New York Community Bancorp from an “equal weight” rating to an “underweight” rating and set a $11.50 price objective on the stock. in a research report on Monday, March 11th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $12.06.

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New York Community Bancorp Company Profile

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

Further Reading: Price-Sales Ratio

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

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