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

New York Community Bancorp, Inc. (NYSE:NYCB) has received an average rating of “Reduce” from the fifteen brokerages that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation and thirteen have given a hold recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $5.43.

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group lowered shares of New York Community Bancorp from a “buy” rating to a “hold” rating and decreased their price target for the stock from $13.00 to $7.00 in a research note on Thursday, February 1st. Barclays started coverage on shares of New York Community Bancorp in a research note on Friday, March 8th. They issued an “equal weight” rating and a $4.00 price objective for the company. UBS Group lowered shares of New York Community Bancorp from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. Royal Bank of Canada reduced their price objective on shares of New York Community Bancorp from $5.00 to $4.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 9th. Finally, DA Davidson lowered shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $8.50 to $5.00 in a research note on Thursday, February 8th.

Insider Transactions at New York Community Bancorp

In related news, Director Peter Schoels acquired 100,000 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was bought at an average cost of $4.15 per share, with a total value of $415,000.00. Following the acquisition, the director now owns 147,438 shares of the company’s stock, valued at approximately $611,867.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other New York Community Bancorp news, Director Peter Schoels purchased 100,000 shares of the stock in a transaction on Friday, February 9th. The stock was acquired at an average cost of $4.15 per share, with a total value of $415,000.00. Following the completion of the purchase, the director now directly owns 147,438 shares of the company’s stock, valued at approximately $611,867.70. The acquisition 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 stock in a transaction on Friday, February 9th. The stock was acquired at an average cost of $4.41 per share, with a total value of $49,877.10. Following the completion of the purchase, the chief executive officer now directly owns 69,704 shares of the company’s stock, valued at $307,394.64. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 213,410 shares of company stock valued at $875,626. Insiders own 1.62% of the company’s stock.

Institutional Trading of New York Community Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Moody Lynn & Lieberson LLC increased its position in shares of New York Community Bancorp by 7.1% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 15,150 shares of the financial services provider’s stock valued at $155,000 after acquiring an additional 1,000 shares during the period. Kestra Private Wealth Services LLC increased its position in shares of New York Community Bancorp by 5.0% in the third quarter. Kestra Private Wealth Services LLC now owns 23,282 shares of the financial services provider’s stock valued at $264,000 after acquiring an additional 1,118 shares during the period. Avantax Advisory Services Inc. increased its position in shares of New York Community Bancorp by 3.5% in the third quarter. Avantax Advisory Services Inc. now owns 35,779 shares of the financial services provider’s stock valued at $406,000 after acquiring an additional 1,204 shares during the period. HB Wealth Management LLC increased its position in shares of New York Community Bancorp by 7.2% in the fourth quarter. HB Wealth Management LLC now owns 20,299 shares of the financial services provider’s stock valued at $208,000 after acquiring an additional 1,371 shares during the period. Finally, Treasurer of the State of North Carolina increased its position in shares of New York Community Bancorp by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 312,764 shares of the financial services provider’s stock valued at $3,547,000 after acquiring an additional 1,590 shares during the period. 67.88% of the stock is owned by institutional investors.

New York Community Bancorp Trading Down 3.8 %

NYSE:NYCB opened at $3.06 on Thursday. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.17 and a current ratio of 1.18. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 0.92 and a beta of 0.91. New York Community Bancorp has a 52 week low of $1.70 and a 52 week high of $14.22. The firm has a 50-day moving average price of $3.58 and a two-hundred day moving average price of $7.37.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings data on Wednesday, January 31st. The financial services provider reported ($0.27) EPS for the quarter, missing the consensus estimate of $0.29 by ($0.56). New York Community Bancorp had a net margin of 28.96% and a return on equity of 6.22%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $935.90 million. During the same quarter last year, the business posted $0.25 EPS. On average, equities analysts expect that New York Community Bancorp will post -0.08 earnings per share for the current fiscal year.

New York Community Bancorp Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 6.54%. The ex-dividend date of this dividend was Tuesday, February 13th. New York Community Bancorp’s dividend payout ratio is currently 6.01%.

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.