New York Community Bancorp (NYSE:NYCB) Given New $12.50 Price Target at JPMorgan Chase & Co.

New York Community Bancorp (NYSE:NYCB) had its price objective upped by JPMorgan Chase & Co. from $11.50 to $12.50 in a report published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other analysts have also issued reports on the stock. Wedbush reiterated a neutral rating and set a $31.50 price target on shares of New York Community Bancorp in a research note on Friday, July 26th. Barclays raised shares of New York Community Bancorp from an equal weight rating to an overweight rating and upped their target price for the stock from $10.00 to $14.00 in a research note on Thursday, September 26th. Citigroup increased their target price on shares of New York Community Bancorp from $10.50 to $12.00 and gave the stock a neutral rating in a report on Wednesday, July 3rd. Raymond James upgraded shares of New York Community Bancorp from an underperform rating to a market perform rating in a research note on Tuesday, September 17th. Finally, StockNews.com upgraded New York Community Bancorp to a sell rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, New York Community Bancorp has an average rating of Hold and an average price target of $17.48.

New York Community Bancorp Stock Performance

NYSE:NYCB opened at $11.01 on Wednesday. The stock has a market capitalization of $3.01 billion, a P/E ratio of 367.00 and a beta of 1.00. The company has a debt-to-equity ratio of 3.66, a quick ratio of 1.17 and a current ratio of 1.27. New York Community Bancorp has a fifty-two week low of $5.10 and a fifty-two week high of $34.47. The company has a 50 day moving average price of $10.66 and a 200 day moving average price of $12.02.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported ($3.15) EPS for the quarter, missing the consensus estimate of ($1.26) by ($1.89). The firm had revenue of $671.00 million for the quarter, compared to analysts’ expectations of $722.47 million. New York Community Bancorp had a negative return on equity of 4.49% and a negative net margin of 10.78%. The company’s quarterly revenue was down 44.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.23 earnings per share. Equities research analysts forecast that New York Community Bancorp will post -2.43 EPS for the current year.

New York Community Bancorp Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Saturday, September 7th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend was Friday, September 6th. New York Community Bancorp’s dividend payout ratio (DPR) is presently 133.33%.

Hedge Funds Weigh In On New York Community Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its holdings in shares of New York Community Bancorp by 3,583.0% in the 1st quarter. Versant Capital Management Inc now owns 8,250 shares of the financial services provider’s stock valued at $27,000 after buying an additional 8,026 shares in the last quarter. AlphaMark Advisors LLC lifted its position in New York Community Bancorp by 26.0% in the second quarter. AlphaMark Advisors LLC now owns 8,734 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 1,803 shares during the last quarter. Hantz Financial Services Inc. purchased a new position in shares of New York Community Bancorp during the second quarter worth about $28,000. Carmichael Hill & Associates Inc. grew its holdings in shares of New York Community Bancorp by 201.0% during the second quarter. Carmichael Hill & Associates Inc. now owns 9,029 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 6,029 shares during the last quarter. Finally, FinTrust Capital Advisors LLC increased its position in shares of New York Community Bancorp by 66.9% during the first quarter. FinTrust Capital Advisors LLC now owns 9,673 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 3,876 shares in the last quarter. 67.88% of the stock is currently owned by hedge funds and other 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.