New York Community Bancorp, Inc. (NYSE:NYCB) Given Average Recommendation of “Hold” by Brokerages

Shares of New York Community Bancorp, Inc. (NYSE:NYCB) have earned a consensus recommendation of “Hold” from the fifteen research firms that are presently covering the company, Marketbeat Ratings reports. Fourteen analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $10.84.

Several equities research analysts have recently weighed in on NYCB shares. Citigroup increased their price objective on New York Community Bancorp from $3.50 to $4.00 and gave the company a “neutral” rating in a research report on Wednesday, July 3rd. Keefe, Bruyette & Woods upped their price objective on shares of New York Community Bancorp from $11.25 to $33.75 and gave the company a “market perform” rating in a research report on Monday, July 15th. Raymond James upgraded New York Community Bancorp from an “underperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. Wedbush restated a “neutral” rating and issued a $31.50 target price on shares of New York Community Bancorp in a research note on Friday, July 26th. Finally, StockNews.com upgraded shares of New York Community Bancorp to a “sell” rating in a research note on Friday, July 19th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NYCB. Bank of New York Mellon Corp increased its position in New York Community Bancorp by 9.6% in the second quarter. Bank of New York Mellon Corp now owns 9,654,656 shares of the financial services provider’s stock worth $31,088,000 after purchasing an additional 844,785 shares during the period. Norges Bank acquired a new position in New York Community Bancorp in the fourth quarter valued at approximately $77,628,000. Kahn Brothers Group Inc. boosted its stake in New York Community Bancorp by 0.9% in the first quarter. Kahn Brothers Group Inc. now owns 6,213,289 shares of the financial services provider’s stock valued at $20,007,000 after acquiring an additional 53,275 shares during the last quarter. Renaissance Technologies LLC grew its holdings in New York Community Bancorp by 995.2% during the 2nd quarter. Renaissance Technologies LLC now owns 4,116,786 shares of the financial services provider’s stock worth $13,256,000 after acquiring an additional 3,740,900 shares during the period. Finally, First Trust Advisors LP raised its position in shares of New York Community Bancorp by 0.8% during the 4th quarter. First Trust Advisors LP now owns 3,318,902 shares of the financial services provider’s stock valued at $33,952,000 after acquiring an additional 25,736 shares during the last quarter. 67.88% of the stock is currently owned by institutional investors.

New York Community Bancorp Stock Down 4.6 %

New York Community Bancorp stock opened at $11.44 on Friday. New York Community Bancorp has a 1-year low of $5.10 and a 1-year high of $34.92. The firm’s fifty day simple moving average is $15.45 and its 200-day simple moving average is $7.60. The company has a market capitalization of $3.13 billion, a P/E ratio of 381.33 and a beta of 1.00. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 3.66.

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

New York Community Bancorp Cuts Dividend

The business 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. The ex-dividend date was Friday, September 6th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.35%. New York Community Bancorp’s payout ratio is 133.33%.

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.