Cerity Partners LLC Sells 787,666 Shares of New York Community Bancorp, Inc. (NYSE:NYCB)

Cerity Partners LLC cut its stake in New York Community Bancorp, Inc. (NYSE:NYCB) by 34.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,483,801 shares of the financial services provider’s stock after selling 787,666 shares during the quarter. Cerity Partners LLC owned 0.36% of New York Community Bancorp worth $16,663,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co grew its holdings in shares of New York Community Bancorp by 6.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 588,329 shares of the financial services provider’s stock worth $1,889,000 after acquiring an additional 35,264 shares during the period. Axxcess Wealth Management LLC grew its stake in shares of New York Community Bancorp by 67.2% during the 1st quarter. Axxcess Wealth Management LLC now owns 32,340 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 13,000 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of New York Community Bancorp by 4.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 391,203 shares of the financial services provider’s stock valued at $1,260,000 after purchasing an additional 17,719 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in shares of New York Community Bancorp by 230.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 95,369 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 66,528 shares during the period. Finally, Levin Capital Strategies L.P. purchased a new position in shares of New York Community Bancorp in the first quarter worth approximately $32,000. 67.88% of the stock is currently owned by institutional investors.

New York Community Bancorp Trading Down 8.3 %

NYCB opened at $10.55 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 1.11 and a debt-to-equity ratio of 2.52. The firm has a market cap of $4.38 billion, a price-to-earnings ratio of -2.42 and a beta of 1.00. New York Community Bancorp, Inc. has a 12 month low of $5.10 and a 12 month high of $34.47. The stock has a fifty day moving average price of $11.06 and a 200-day moving average price of $12.25.

New York Community Bancorp (NYSE:NYCB) last announced its earnings results on Friday, October 25th. The financial services provider reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.29). New York Community Bancorp had a negative return on equity of 11.35% and a negative net margin of 18.40%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $621.72 million. During the same quarter in the prior year, the firm posted $1.08 earnings per share. As a group, equities research analysts anticipate that New York Community Bancorp, Inc. will post -3 earnings per share for the current fiscal year.

New York Community Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Saturday, December 7th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.38%. New York Community Bancorp’s payout ratio is presently -0.92%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on NYCB shares. StockNews.com began coverage on New York Community Bancorp in a research note on Friday. They issued a “sell” rating for the company. Barclays raised shares of New York Community Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $10.00 to $14.00 in a report on Thursday, September 26th. Raymond James raised shares of New York Community Bancorp from an “underperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. Finally, JPMorgan Chase & Co. lifted their target price on shares of New York Community Bancorp from $11.50 to $12.50 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $17.48.

About New York Community Bancorp

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.