Allspring Global Investments Holdings LLC Buys 546,821 Shares of New York Community Bancorp, Inc. (NYSE:NYCB)

Allspring Global Investments Holdings LLC increased its stake in New York Community Bancorp, Inc. (NYSE:NYCB) by 135.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 950,942 shares of the financial services provider’s stock after purchasing an additional 546,821 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.13% of New York Community Bancorp worth $9,728,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of NYCB. Point72 Hong Kong Ltd bought a new position in shares of New York Community Bancorp in the second quarter worth $27,000. Orion Capital Management LLC acquired a new stake in New York Community Bancorp in the third quarter valued at about $28,000. Loomis Sayles & Co. L P acquired a new stake in New York Community Bancorp in the third quarter valued at about $29,000. Lazard Asset Management LLC acquired a new stake in New York Community Bancorp in the fourth quarter valued at about $29,000. Finally, Authentikos Wealth Advisory LLC acquired a new stake in New York Community Bancorp in the third quarter valued at about $35,000. Institutional investors own 67.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Piper Sandler reaffirmed a “neutral” rating and issued a $5.00 price objective (down from $8.00) on shares of New York Community Bancorp in a research note on Friday, March 1st. Jefferies Financial Group lowered New York Community Bancorp from a “buy” rating to a “hold” rating and reduced their price objective for the company from $13.00 to $7.00 in a research note on Thursday, February 1st. Deutsche Bank Aktiengesellschaft lowered New York Community Bancorp from a “buy” rating to a “hold” rating and reduced their price objective for the company from $15.00 to $7.00 in a research note on Friday, February 2nd. TheStreet lowered New York Community Bancorp from a “b-” rating to a “c+” rating in a research note on Monday, February 5th. Finally, Morgan Stanley cut their price target on New York Community Bancorp from $6.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 7th. Three analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.43.

Insider Buying and Selling

In related news, EVP Lee Matthew Smith acquired 25,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average cost of $4.05 per share, with a total value of $101,250.00. Following the completion of the purchase, the executive vice president now directly owns 1,440,683 shares in the company, valued at $5,834,766.15. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other New York Community Bancorp news, EVP Lee Matthew Smith bought 25,000 shares of the stock in a transaction on Friday, February 9th. The stock was acquired at an average cost of $4.05 per share, for a total transaction of $101,250.00. Following the completion of the acquisition, the executive vice president now owns 1,440,683 shares in the company, valued at approximately $5,834,766.15. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marshall Lux bought 27,100 shares of the stock in a transaction on Thursday, March 21st. The stock was acquired at an average price 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 of the company’s stock, 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 ninety days. 1.62% of the stock is owned by company insiders.

New York Community Bancorp Price Performance

New York Community Bancorp stock opened at $2.93 on Wednesday. The stock’s 50 day moving average is $3.77 and its 200 day moving average is $7.68. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.18 and a quick ratio of 1.17. The firm has a market cap of $2.33 billion, a P/E ratio of 0.88, a P/E/G ratio of 31.60 and a beta of 0.92. New York Community Bancorp, Inc. has a one year low of $1.70 and a one year high of $14.22.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings data on Wednesday, January 31st. The financial services provider reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.56). The company had revenue of $1.59 billion during the quarter, compared to analyst estimates 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 firm earned $0.25 earnings per share. As a group, research analysts expect that New York Community Bancorp, Inc. will post 0.01 EPS for the current year.

New York Community Bancorp Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date was Tuesday, February 13th. New York Community Bancorp’s dividend payout ratio is currently 6.01%.

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.