JPMorgan Chase & Co. grew its stake in New York Community Bancorp, Inc. (NYSE:NYCB) by 480.1% in the first quarter, HoldingsChannel reports. The firm owned 1,975,771 shares of the financial services provider’s stock after acquiring an additional 1,635,171 shares during the quarter. JPMorgan Chase & Co.’s holdings in New York Community Bancorp were worth $22,860,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in New York Community Bancorp in the fourth quarter worth approximately $41,015,000. Barrow Hanley Mewhinney & Strauss LLC grew its position in New York Community Bancorp by 7.7% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 41,199,922 shares of the financial services provider’s stock worth $387,691,000 after acquiring an additional 2,960,395 shares during the period. Millennium Management LLC purchased a new position in New York Community Bancorp in the fourth quarter worth approximately $16,968,000. Oregon Public Employees Retirement Fund grew its position in New York Community Bancorp by 841.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,826,839 shares of the financial services provider’s stock worth $194,000 after acquiring an additional 1,632,701 shares during the period. Finally, Bessemer Group Inc. grew its position in New York Community Bancorp by 63.5% in the fourth quarter. Bessemer Group Inc. now owns 3,745,166 shares of the financial services provider’s stock worth $35,242,000 after acquiring an additional 1,454,055 shares during the period. Institutional investors and hedge funds own 63.07% of the company’s stock.

In related news, Director Dominick Ciampa acquired 34,000 shares of New York Community Bancorp stock in a transaction dated Wednesday, March 27th. The shares were acquired at an average cost of $11.61 per share, for a total transaction of $394,740.00. Following the completion of the purchase, the director now owns 7,508 shares in the company, valued at $87,167.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Hanif Dahya purchased 1,640 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was acquired 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 currently owned by company insiders.

NYSE:NYCB opened at $9.93 on Monday. 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, Inc. has a 52 week low of $8.61 and a 52 week high of $12.72. The firm has a market cap of $4.64 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.26 and a beta of 1.03.

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

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 6.85%. The ex-dividend date was Monday, May 13th. New York Community Bancorp’s payout ratio is currently 86.08%.

NYCB has been the topic of a number of research reports. Zacks Investment Research upgraded New York Community Bancorp from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Monday, February 4th. UBS Group upgraded New York Community Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the stock from $10.00 to $15.00 in a research note on Wednesday, February 6th. Morgan Stanley cut New York Community Bancorp from an “equal weight” rating to an “underweight” rating and set a $11.50 price target on the stock. in a research note on Monday, March 11th. Jefferies Financial Group initiated coverage on New York Community Bancorp in a research note on Monday, April 8th. They set a “hold” rating and a $12.00 price target on the stock. Finally, B. Riley restated a “neutral” rating on shares of New York Community Bancorp in a research note on Wednesday, April 10th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target 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.

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

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