Brokerages Set New York Community Bancorp, Inc. (NYSE:NYCB) PT at $5.39

Shares of New York Community Bancorp, Inc. (NYSE:NYCB) have earned an average recommendation of “Hold” from the fifteen research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $5.39.

NYCB has been the topic of a number of recent analyst reports. StockNews.com raised New York Community Bancorp to a “sell” rating in a research note on Monday, April 29th. Deutsche Bank Aktiengesellschaft downgraded New York Community Bancorp from a “buy” rating to a “hold” rating and lowered their target price for the company from $15.00 to $7.00 in a research note on Friday, February 2nd. Raymond James downgraded New York Community Bancorp from a “market perform” rating to an “underperform” rating and set a $3.00 price target for the company. in a research note on Monday, March 18th. Morgan Stanley decreased their price target on New York Community Bancorp from $6.00 to $4.00 and set an “equal weight” rating for the company in a research note on Thursday, March 7th. Finally, Bank of America downgraded New York Community Bancorp from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $8.50 to $5.00 in a research note on Wednesday, February 7th.

New York Community Bancorp Stock Performance

NYCB opened at $3.33 on Monday. The stock has a market cap of $2.73 billion, a P/E ratio of 332.50 and a beta of 0.95. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.27 and a quick ratio of 1.26. The stock’s 50 day simple moving average is $3.32 and its 200 day simple moving average is $6.42. New York Community Bancorp has a 1-year low of $1.70 and a 1-year high of $14.22.

New York Community Bancorp (NYSE:NYCB) last announced its earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. The firm had revenue of $633.00 million for the quarter, compared to analysts’ expectations of $776.81 million. New York Community Bancorp had a return on equity of 2.91% and a net margin of 0.62%. New York Community Bancorp’s quarterly revenue was down 76.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.23 EPS. As a group, equities analysts anticipate that New York Community Bancorp will post -0.48 EPS for the current fiscal year.

New York Community Bancorp Cuts Dividend

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

Insider Activity

In other New York Community Bancorp news, Director Marshall Lux bought 27,100 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were acquired 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.38% of the stock is owned by company insiders.

Institutional Trading of New York Community Bancorp

Large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in New York Community Bancorp by 7.5% in the third quarter. Wellington Management Group LLP now owns 67,668,954 shares of the financial services provider’s stock valued at $767,366,000 after buying an additional 4,723,876 shares during the period. Norges Bank bought a new stake in shares of New York Community Bancorp during the fourth quarter worth $77,628,000. Kahn Brothers Group Inc. increased its position in shares of New York Community Bancorp by 0.9% during the first quarter. Kahn Brothers Group Inc. now owns 6,213,289 shares of the financial services provider’s stock worth $20,007,000 after acquiring an additional 53,275 shares in the last quarter. Westfield Capital Management Co. LP increased its position in shares of New York Community Bancorp by 154.0% during the third quarter. Westfield Capital Management Co. LP now owns 5,135,955 shares of the financial services provider’s stock worth $58,242,000 after acquiring an additional 3,114,070 shares in the last quarter. Finally, Cannell & Co. increased its position in shares of New York Community Bancorp by 12.3% during the fourth quarter. Cannell & Co. now owns 4,574,137 shares of the financial services provider’s stock worth $46,793,000 after acquiring an additional 500,545 shares in the last quarter. 67.88% of the stock is owned by institutional investors.

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.