TRUE Private Wealth Advisors Makes New Investment in New York Community Bancorp, Inc. (NYSE:NYCB)

TRUE Private Wealth Advisors purchased a new position in shares of New York Community Bancorp, Inc. (NYSE:NYCB) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,550 shares of the financial services provider’s stock, valued at approximately $85,000.

A number of other institutional investors and hedge funds have also bought and sold shares of NYCB. TCI Wealth Advisors Inc. boosted its stake in New York Community Bancorp by 52.0% during the second quarter. TCI Wealth Advisors Inc. now owns 4,259 shares of the financial services provider’s stock worth $43,000 after buying an additional 1,457 shares in the last quarter. Advisory Services Network LLC lifted its holdings in shares of New York Community Bancorp by 18.1% during the second quarter. Advisory Services Network LLC now owns 6,933 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 1,063 shares during the period. Colrain Capital LLC bought a new position in shares of New York Community Bancorp during the first quarter valued at $93,000. Joseph P. Lucia & Associates LLC bought a new position in shares of New York Community Bancorp during the first quarter valued at $125,000. Finally, Banco Santander S.A. bought a new position in shares of New York Community Bancorp during the first quarter valued at $129,000. Hedge funds and other institutional investors own 63.03% of the company’s stock.

Shares of New York Community Bancorp stock traded up $0.29 during trading on Friday, reaching $11.42. The company’s stock had a trading volume of 36,777 shares, compared to its average volume of 5,343,265. The stock has a 50-day moving average price of $10.75 and a two-hundred day moving average price of $11.16. The company has a current ratio of 1.30, a quick ratio of 1.31 and a debt-to-equity ratio of 2.17. New York Community Bancorp, Inc. has a one year low of $8.61 and a one year high of $12.72. The stock has a market capitalization of $5.20 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 1.47 and a beta of 1.00.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.19. New York Community Bancorp had a return on equity of 6.52% and a net margin of 21.73%. The business had revenue of $255.29 million during the quarter, compared to analysts’ expectations of $255.49 million. During the same period in the previous year, the business posted $0.20 earnings per share. As a group, sell-side analysts anticipate that New York Community Bancorp, Inc. will post 0.78 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Monday, August 12th will be issued a $0.17 dividend. The ex-dividend date is Friday, August 9th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.95%. New York Community Bancorp’s dividend payout ratio is 86.08%.

A number of research analysts have issued reports on NYCB shares. TheStreet cut New York Community Bancorp from a “b-” rating to a “c+” rating in a report on Thursday, June 13th. Royal Bank of Canada started coverage on New York Community Bancorp in a report on Friday, July 12th. They set an “outperform” rating and a $12.00 price objective for the company. B. Riley set a $13.00 price objective on New York Community Bancorp and gave the company a “buy” rating in a report on Wednesday, July 31st. Sandler O’Neill cut New York Community Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Finally, Bank of America set a $13.00 price objective on New York Community Bancorp and gave the company a “buy” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $12.20.

About New York Community Bancorp

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: Why do analysts give a neutral rating?

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

Receive News & Ratings for New York Community Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New York Community Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.