New York Community Bancorp, Inc. (NYCB) Given a $11.00 Price Target at Piper Jaffray Companies
Piper Jaffray Companies set a $11.00 price target on New York Community Bancorp, Inc. (NYSE:NYCB) in a research note published on Thursday. The firm currently has a sell rating on the financial services provider’s stock.
Several other research analysts have also recently issued reports on NYCB. BidaskClub cut New York Community Bancorp from a sell rating to a strong sell rating in a research note on Thursday, August 10th. ValuEngine cut New York Community Bancorp from a buy rating to a hold rating in a research note on Friday, June 2nd. Keefe, Bruyette & Woods restated a hold rating and issued a $13.50 price objective on shares of New York Community Bancorp in a research note on Wednesday, April 26th. Morgan Stanley raised their price objective on New York Community Bancorp from $13.50 to $14.00 and gave the stock an equal weight rating in a research note on Tuesday, June 6th. Finally, Zacks Investment Research upgraded New York Community Bancorp from a sell rating to a hold rating in a research note on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $14.03.
Shares of New York Community Bancorp (NYCB) opened at 11.94 on Thursday. The company has a 50-day moving average price of $12.86 and a 200 day moving average price of $13.60. The company has a market capitalization of $5.84 billion, a P/E ratio of 12.99 and a beta of 0.58. New York Community Bancorp has a 12-month low of $11.91 and a 12-month high of $17.68.
New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03. New York Community Bancorp had a return on equity of 7.46% and a net margin of 25.67%. The firm had revenue of $338.21 million during the quarter, compared to analysts’ expectations of $326.36 million. During the same period last year, the business posted $0.26 earnings per share. On average, equities analysts anticipate that New York Community Bancorp will post $0.82 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Monday, August 7th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 5.70%. The ex-dividend date of this dividend was Thursday, August 3rd. New York Community Bancorp’s dividend payout ratio (DPR) is 73.91%.
Hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. raised its stake in New York Community Bancorp by 3.1% in the first quarter. Pacer Advisors Inc. now owns 9,389 shares of the financial services provider’s stock valued at $131,000 after buying an additional 284 shares during the period. Quantbot Technologies LP bought a new stake in New York Community Bancorp during the first quarter valued at approximately $140,000. Sigma Planning Corp bought a new stake in New York Community Bancorp during the second quarter valued at approximately $135,000. BB&T Securities LLC bought a new stake in New York Community Bancorp during the second quarter valued at approximately $135,000. Finally, Hartford Investment Management Co. bought a new stake in New York Community Bancorp during the second quarter valued at approximately $138,000. 58.88% of the stock is currently owned by hedge funds and other institutional investors.
New York Community Bancorp Company Profile
New York Community Bancorp, Inc is a multi-bank holding company. The Company operates through its subsidiaries, New York Community Bank (the Community Bank) and New York Commercial Bank (the Commercial Bank) (collectively, the Banks). The Company’s operations are divided into two segments: Banking Operations and Residential Mortgage Banking.
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