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

StockNews.com assumed coverage on shares of New York Community Bancorp (NYSE:NYCB) in a research note issued to investors on Thursday. The brokerage issued a sell rating on the financial services provider’s stock.

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

New York Community Bancorp Stock Performance

NYSE NYCB opened at $10.55 on Thursday. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.14 and a quick ratio of 1.11. The company has a market cap of $4.38 billion, a P/E ratio of -2.42 and a beta of 1.00. The stock has a 50-day moving average of $11.07 and a two-hundred day moving average of $12.22. New York Community Bancorp has a 1-year low of $5.10 and a 1-year high of $34.47.

New York Community Bancorp (NYSE:NYCB) last announced 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 business had revenue of $1.65 billion during the quarter, compared to analyst estimates 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 quarter last year, the firm posted $1.08 EPS. As a group, analysts anticipate that New York Community Bancorp will post -3 EPS for the current year.

New York Community Bancorp Dividend Announcement

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

Institutional Trading of New York Community Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its position in shares of New York Community Bancorp by 995.2% in the 2nd quarter. Renaissance Technologies LLC now owns 4,116,786 shares of the financial services provider’s stock valued at $13,256,000 after purchasing an additional 3,740,900 shares during the period. WINTON GROUP Ltd purchased a new position in shares of New York Community Bancorp during the second quarter worth approximately $5,401,000. Private Management Group Inc. increased its holdings in shares of New York Community Bancorp by 69.4% in the 2nd quarter. Private Management Group Inc. now owns 3,216,505 shares of the financial services provider’s stock valued at $10,357,000 after acquiring an additional 1,317,391 shares during the period. SG Americas Securities LLC raised its position in New York Community Bancorp by 302.7% in the 2nd quarter. SG Americas Securities LLC now owns 1,681,490 shares of the financial services provider’s stock valued at $5,414,000 after purchasing an additional 1,263,905 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in New York Community Bancorp during the 2nd quarter worth $2,879,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

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.