New York Community Bancorp, Inc. (NYSE:NYCB) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its holdings in shares of New York Community Bancorp, Inc. (NYSE:NYCB - Free Report) by 22.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,101,513 shares of the financial services provider's stock after selling 620,948 shares during the quarter. Russell Investments Group Ltd. owned about 0.29% of New York Community Bancorp worth $21,499,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Kovack Advisors Inc. purchased a new stake in New York Community Bancorp in the 4th quarter valued at $520,000. Herold Advisors Inc. grew its holdings in shares of New York Community Bancorp by 16.4% in the fourth quarter. Herold Advisors Inc. now owns 43,065 shares of the financial services provider's stock valued at $441,000 after purchasing an additional 6,079 shares during the period. Semanteon Capital Management LP purchased a new stake in shares of New York Community Bancorp in the fourth quarter valued at about $105,000. Bailard Inc. acquired a new stake in New York Community Bancorp during the fourth quarter worth about $143,000. Finally, Alaska Permanent Fund Corp increased its holdings in shares of New York Community Bancorp by 1.5% during the 4th quarter. Alaska Permanent Fund Corp now owns 216,010 shares of the financial services provider's stock worth $2,210,000 after buying an additional 3,110 shares during the last quarter. Hedge funds and other institutional investors own 67.88% of the company's stock.

Insider Activity

In other news, Director Marshall Lux purchased 27,100 shares of the company's stock in a transaction that occurred on Thursday, March 21st. The shares were purchased at an average price of $3.69 per share, for a total transaction of $99,999.00. Following the purchase, the director now directly owns 64,872 shares of the company's stock, valued at approximately $239,377.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other New York Community Bancorp news, Director Marshall Lux purchased 27,100 shares of New York Community Bancorp stock in a transaction that occurred on Thursday, March 21st. The stock was purchased at an average price of $3.69 per share, for a total transaction of $99,999.00. Following the transaction, the director now directly owns 64,872 shares in the company, valued at $239,377.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas R. Cangemi purchased 11,310 shares of the firm's stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average price of $4.41 per share, with a total value of $49,877.10. Following the purchase, the chief executive officer now owns 69,704 shares in the company, valued at $307,394.64. The disclosure for this purchase can be found here. In the last three months, insiders bought 213,410 shares of company stock valued at $875,626. Insiders own 1.62% of the company's stock.

New York Community Bancorp Stock Up 4.7 %

NYSE NYCB traded up $0.16 during trading on Friday, reaching $3.53. 26,498,406 shares of the company's stock were exchanged, compared to its average volume of 34,359,766. The company has a 50 day moving average price of $3.36 and a two-hundred day moving average price of $7.02. The stock has a market cap of $2.82 billion, a P/E ratio of 353.00 and a beta of 0.95. New York Community Bancorp, Inc. has a 1 year low of $1.70 and a 1 year high of $14.22. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.17 and a current ratio of 1.18.

New York Community Bancorp (NYSE:NYCB - Get Free Report) last posted its earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) EPS for the quarter, beating analysts' consensus estimates of ($0.26) by $0.01. New York Community Bancorp had a net margin of 0.62% and a return on equity of 2.78%. The firm had revenue of $633.00 million for the quarter, compared to the consensus estimate of $776.81 million. During the same period last year, the firm posted $0.23 EPS. The company's revenue was down 76.1% on a year-over-year basis. On average, equities research analysts anticipate that New York Community Bancorp, Inc. will post -0.08 EPS for the current fiscal year.

New York Community Bancorp Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, June 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 1.13%. The ex-dividend date is Friday, June 7th. New York Community Bancorp's dividend payout ratio (DPR) is currently 2,000.00%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. DA Davidson lowered New York Community Bancorp from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $8.50 to $5.00 in a research report on Thursday, February 8th. JPMorgan Chase & Co. lowered shares of New York Community Bancorp from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $11.50 to $5.50 in a report on Wednesday, February 7th. Raymond James cut shares of New York Community Bancorp from a "market perform" rating to an "underperform" rating and set a $3.00 target price on the stock. in a research report on Monday, March 18th. Citigroup dropped their price target on shares of New York Community Bancorp from $5.00 to $3.50 and set a "neutral" rating for the company in a research report on Thursday, March 7th. Finally, Piper Sandler upgraded shares of New York Community Bancorp from a "neutral" rating to an "overweight" rating and set a $4.00 price objective on the stock in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $5.39.

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.