Federated Hermes Inc. is reducing its position in Community New York Bancorp, Inc. (NYSE:NYCB)

VaselineSeptember 26, 2024

0 4 minutes read

Federated Hermes Inc. reduced its holdings in shares of New York Community Bancorp, Inc. (NYSE:NYCB – Free Report) by 11.8% during the second quarter, Holdings Channel.com reports. The firm owned 36,418 shares of the financial services provider’s stock after selling 4,865 shares during the period. Holdings of Federated Hermes Inc. in New York Community Bancorp were worth $117,000 as of its most recent SEC filing.

A number of other hedge funds have recently made changes to their positions in the stock. Legacy Capital Group California Inc. boosted its holdings in New York Community Bancorp by 1.2% in the second quarter. Legacy Capital Group California Inc. now owns 81,618 shares of the financial services provider’s stock worth $263,000 after buying an additional 934 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in New York Community Bancorp by 7.6% in the second quarter. CIBC Asset Management Inc now owns 20,405 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 1,436 shares in the last quarter. Family Asset Management LLC lifted its position in New York Community Bancorp by 9.2% in the second quarter. Family Asset Management LLC now owns 18,010 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 1,510 shares in the last quarter. AlphaMark Advisors LLC boosted its stake in New York Community Bancorp by 26.0% during the 2nd quarter. AlphaMark Advisors LLC now owns 8,734 shares of the financial services provider’s stock valued at $28,000 after buying an additional 1,803 shares in the last quarter. Finally, Carson Advisory Inc. boosted its holdings in shares of New York Community Bancorp by 10.3% in the second quarter. Carson Advisory Inc. now owns 21,400 shares of the financial services provider’s stock worth $69,000 after buying an additional 2,000 shares in the last quarter. 67.88% of shares are held by institutional investors.

Shares of Community Bancorp of New York fell 2.5%

Shares of NYCB stock opened at $10.66 on Thursday. The company’s 50-day moving average price is $14.18 and its 200-day moving average price is $7.75. The stock has a market cap of $3.97 billion, a P/E ratio of 355.33 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 $34.92. The company has a quick ratio of 1.17, a current ratio of 1.27, and a debt-to-equity ratio of 3.66.

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New York Community Bancorp (NYSE:NYCB – Get Free Report ) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported ($3.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.26) by ($1.89). New York Community Bancorp had a negative return on equity of 4.49% and a negative net margin of 10.78%. The firm had revenue of $671.00 million during the quarter, compared to analysts’ expectations of $722.47 million. In the same period last year, the company earned $4.23 per share. The company’s revenue for the quarter was down 44.2% year over year. On average, equities research analysts forecast that New York Community Bancorp, Inc. will post -2.43 EPS for the current year.

Community Bancorp of New York cuts dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Saturday, September 7th were paid a $0.01 dividend. This represents a dividend of $0.04 on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend was Friday, September 6th. New York Community Bancorp’s dividend payout ratio (DPR) is 133.33%.

Analyst upgrades and downgrades

Several research firms have recently commented on NYCB. Barclays boosted their price objective on New York Community Bancorp from $12.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Citigroup boosted their target price on shares of New York Community Bancorp from $3.50 to $4.00 and gave the company a “neutral” rating in a report on Wednesday, July 3rd. Raymond James raised shares of New York Community Bancorp from an “underperform” rating to a “market perform” rating in a report on Tuesday, September 17th. Wedbush restated a “neutral” rating and issued a $31.50 target price on shares of New York Community Bancorp in a research report on Friday, July 26th. Finally, StockNews.com raised New York Community Bancorp to a “sell” rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has assigned a buy rating to the company. New York Community Bancorp has an average rating of “Hold” and a consensus price target of $10.84, according to MarketBeat.

Get our latest analysis of NYCB

New York Community Bancorp Profile

(Free Report)

New York Community Bancorp, Inc operates as the bank holding company for Flagstar Bank, NA, which provides banking products and services in the United States. The company’s deposit products include interest-bearing and money market, savings, non-interest-bearing and retirement accounts, as well as certificates of deposit.