New York Community Bancorp, Inc. (NYSE:NYCB) Receives Average Recommendation of “Hold” from Brokerages

New York Community Bancorp, Inc. (NYSE:NYCB) has been assigned a consensus rating of “Hold” from the fifteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $5.39.

A number of brokerages have recently issued reports on NYCB. Royal Bank of Canada dropped their price target on shares of New York Community Bancorp from $5.00 to $4.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 9th. Raymond James lowered shares of New York Community Bancorp from a “market perform” rating to an “underperform” rating and set a $3.00 target price for the company. in a research note on Monday, March 18th. Bank of America downgraded New York Community Bancorp from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $8.50 to $5.00 in a research note on Wednesday, February 7th. JPMorgan Chase & Co. lowered New York Community Bancorp from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $11.50 to $5.50 in a report on Wednesday, February 7th. Finally, Morgan Stanley lowered their target price on New York Community Bancorp from $6.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, March 7th.

Insider Buying and Selling at New York Community Bancorp

In other New York Community Bancorp news, Director Marshall Lux acquired 27,100 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was purchased at an average price of $3.69 per share, with a total value of $99,999.00. Following the completion of the purchase, the director now directly owns 64,872 shares in the company, valued at approximately $239,377.68. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 6.38% of the company’s stock.

Hedge Funds Weigh In On New York Community Bancorp

Hedge funds have recently modified their holdings of the stock. Cetera Advisors LLC increased its holdings in New York Community Bancorp by 74.6% in the 1st quarter. Cetera Advisors LLC now owns 88,717 shares of the financial services provider’s stock valued at $286,000 after acquiring an additional 37,902 shares during the last quarter. EMC Capital Management bought a new stake in shares of New York Community Bancorp in the first quarter worth about $77,000. XML Financial LLC lifted its position in shares of New York Community Bancorp by 158.4% in the first quarter. XML Financial LLC now owns 116,130 shares of the financial services provider’s stock worth $374,000 after buying an additional 71,183 shares in the last quarter. Levin Capital Strategies L.P. bought a new position in New York Community Bancorp during the first quarter valued at approximately $32,000. Finally, B. Riley Wealth Advisors Inc. grew its holdings in New York Community Bancorp by 230.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 95,369 shares of the financial services provider’s stock valued at $307,000 after buying an additional 66,528 shares in the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

New York Community Bancorp Price Performance

Shares of NYSE NYCB opened at $3.33 on Monday. The firm has a market cap of $2.73 billion, a P/E ratio of 333.00 and a beta of 0.95. New York Community Bancorp has a twelve month low of $1.70 and a twelve month high of $14.22. The company has a quick ratio of 1.26, a current ratio of 1.27 and a debt-to-equity ratio of 3.39. The company has a 50 day moving average of $3.30 and a 200 day moving average of $6.31.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.01. New York Community Bancorp had a return on equity of 2.91% and a net margin of 0.62%. The firm had revenue of $633.00 million during the quarter, compared to analysts’ expectations of $776.81 million. During the same quarter in the previous year, the business earned $0.23 earnings per share. The company’s revenue was down 76.1% on a year-over-year basis. As a group, research analysts expect that New York Community Bancorp will post -0.49 EPS for the current fiscal year.

New York Community Bancorp Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, June 7th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.04 dividend on an annualized basis and a yield of 1.20%. New York Community Bancorp’s payout ratio is presently 2,000.00%.

New York Community Bancorp Company Profile

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.