Principal Financial Group Inc. Trims Stock Position in New York Community Bancorp, Inc. (NYSE:NYCB)

Principal Financial Group Inc. decreased its position in New York Community Bancorp, Inc. (NYSE:NYCBFree Report) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,664,288 shares of the financial services provider’s stock after selling 46,502 shares during the quarter. Principal Financial Group Inc. owned 0.37% of New York Community Bancorp worth $30,213,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of NYCB. The Manufacturers Life Insurance Company grew its stake in shares of New York Community Bancorp by 163.9% during the second quarter. The Manufacturers Life Insurance Company now owns 1,399,243 shares of the financial services provider’s stock worth $15,727,000 after purchasing an additional 868,943 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in New York Community Bancorp in the third quarter valued at $1,451,000. Exchange Traded Concepts LLC purchased a new stake in New York Community Bancorp in the third quarter valued at $1,641,000. JPMorgan Chase & Co. lifted its position in New York Community Bancorp by 52.0% in the second quarter. JPMorgan Chase & Co. now owns 3,077,222 shares of the financial services provider’s stock valued at $34,588,000 after acquiring an additional 1,052,338 shares during the last quarter. Finally, Point72 Middle East FZE purchased a new stake in New York Community Bancorp in the second quarter valued at $6,637,000. Institutional investors and hedge funds own 67.52% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on NYCB. Bank of America reduced their target price on shares of New York Community Bancorp from $15.00 to $13.00 in a report on Tuesday, October 10th. Morgan Stanley cut their price target on shares of New York Community Bancorp from $12.00 to $10.50 and set an “equal weight” rating for the company in a report on Monday, December 4th. UBS Group cut shares of New York Community Bancorp from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Raymond James cut their price target on shares of New York Community Bancorp from $17.00 to $14.00 and set a “strong-buy” rating for the company in a report on Friday, October 27th. Finally, Citigroup cut their price target on shares of New York Community Bancorp from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, December 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.35.

Check Out Our Latest Stock Analysis on NYCB

Insider Activity at New York Community Bancorp

In other news, EVP Reginald E. Davis sold 11,000 shares of New York Community Bancorp stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $9.84, for a total value of $108,240.00. Following the completion of the transaction, the executive vice president now directly owns 70,416 shares of the company’s stock, valued at approximately $692,893.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.62% of the company’s stock.

New York Community Bancorp Trading Up 0.8 %

Shares of NYCB stock traded up $0.08 during mid-day trading on Friday, reaching $10.29. The company’s stock had a trading volume of 1,743,702 shares, compared to its average volume of 6,837,023. The company’s 50 day simple moving average is $10.00 and its 200-day simple moving average is $10.90. New York Community Bancorp, Inc. has a 12-month low of $5.81 and a 12-month high of $14.22. The company has a quick ratio of 1.09, a current ratio of 1.12 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $7.43 billion, a PE ratio of 2.56, a price-to-earnings-growth ratio of 0.77 and a beta of 1.10.

New York Community Bancorp (NYSE:NYCBGet Free Report) last issued its earnings results on Thursday, October 26th. The financial services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $931.90 million. New York Community Bancorp had a net margin of 37.39% and a return on equity of 9.49%. During the same quarter last year, the firm posted $0.31 EPS. On average, research analysts predict that New York Community Bancorp, Inc. will post 1.36 EPS for the current fiscal year.

New York Community Bancorp Profile

(Free Report)

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.

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

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