New York Community Bancorp (NYSE:NYCB) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of New York Community Bancorp (NYSE:NYCB) in a report published on Thursday morning. The firm issued a sell rating on the financial services provider’s stock.

Other analysts have also issued research reports about the company. Raymond James upgraded New York Community Bancorp from an “underperform” rating to a “market perform” rating in a report on Tuesday, September 17th. Wedbush reiterated a “neutral” rating and issued a $31.50 price target on shares of New York Community Bancorp in a research note on Friday, July 26th. Barclays upgraded New York Community Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $10.00 to $14.00 in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. upped their price objective on shares of New York Community Bancorp from $11.50 to $12.50 and gave the company a “neutral” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, New York Community Bancorp presently has a consensus rating of “Hold” and an average price target of $17.48.

New York Community Bancorp Stock Down 8.3 %

Shares of NYSE NYCB opened at $10.55 on Thursday. New York Community Bancorp has a 12-month low of $5.10 and a 12-month high of $34.47. The stock’s fifty day simple moving average is $11.07 and its two-hundred day simple moving average is $12.22. The stock has a market capitalization of $4.38 billion, a PE ratio of -2.42 and a beta of 1.00. The company has a current ratio of 1.14, a quick ratio of 1.11 and a debt-to-equity ratio of 2.52.

New York Community Bancorp (NYSE:NYCB) last issued its quarterly earnings data on Friday, October 25th. The financial services provider reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.29). The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $621.72 million. New York Community Bancorp had a negative net margin of 18.40% and a negative return on equity of 11.35%. During the same period in the previous year, the business earned $1.08 EPS. As a group, analysts expect that New York Community Bancorp will post -3 EPS for the current fiscal year.

New York Community Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Saturday, December 7th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.38%. New York Community Bancorp’s dividend payout ratio (DPR) is presently -0.92%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NYCB. Allworth Financial LP acquired a new stake in New York Community Bancorp during the third quarter worth about $29,000. Hantz Financial Services Inc. acquired a new stake in shares of New York Community Bancorp during the 2nd quarter worth approximately $28,000. AlphaMark Advisors LLC raised its position in shares of 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 during the period. Carmichael Hill & Associates Inc. lifted its holdings in New York Community Bancorp by 201.0% in the second quarter. Carmichael Hill & Associates Inc. now owns 9,029 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 6,029 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in New York Community Bancorp by 4,665.0% in the second quarter. Nisa Investment Advisors LLC now owns 9,530 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 9,330 shares during the period. Hedge funds and other institutional investors own 67.88% of the company’s stock.

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.