New York Community Bancorp, Inc. (NYCB) Upgraded at BidaskClub
BidaskClub upgraded shares of New York Community Bancorp, Inc. (NYSE:NYCB) from a strong sell rating to a sell rating in a research report report published on Wednesday.
A number of other analysts also recently issued reports on the stock. Zacks Investment Research raised shares of New York Community Bancorp from a strong sell rating to a hold rating in a report on Wednesday, August 30th. Morgan Stanley reissued an equal weight rating and set a $13.75 price target (down from $14.00) on shares of New York Community Bancorp in a report on Friday, July 7th. ValuEngine downgraded shares of New York Community Bancorp from a buy rating to a hold rating in a report on Friday, June 2nd. Finally, Piper Jaffray Companies set a $11.00 price target on shares of New York Community Bancorp and gave the stock a sell rating in a report on Thursday, August 17th. Three research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $13.61.
New York Community Bancorp (NYSE:NYCB) opened at 12.29 on Wednesday. The stock has a market cap of $6.01 billion, a PE ratio of 13.37 and a beta of 0.59. New York Community Bancorp has a 1-year low of $11.67 and a 1-year high of $17.68. The company’s 50 day moving average is $12.30 and its 200-day moving average is $13.18.
New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03. New York Community Bancorp had a net margin of 25.67% and a return on equity of 7.46%. The firm had revenue of $338.21 million for the quarter, compared to the consensus estimate of $326.36 million. During the same period in the prior year, the firm posted $0.26 earnings per share. Equities research analysts forecast that New York Community Bancorp will post $0.79 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Shareholders 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 5.53%. The ex-dividend date of this dividend was Thursday, August 3rd. New York Community Bancorp’s payout ratio is 73.91%.
Institutional investors and hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. lifted its holdings in New York Community Bancorp by 3.1% during the first quarter. Pacer Advisors Inc. now owns 9,389 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 284 shares in the last quarter. Sigma Planning Corp purchased a new position in New York Community Bancorp during the second quarter valued at $135,000. BB&T Securities LLC purchased a new position in New York Community Bancorp during the second quarter valued at $135,000. Hartford Investment Management Co. purchased a new position in New York Community Bancorp during the second quarter valued at $138,000. Finally, Quantbot Technologies LP purchased a new position in New York Community Bancorp during the first quarter valued at $140,000. 57.50% of the stock is currently owned by institutional investors and hedge funds.
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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