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

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

Several other research firms also recently commented on NYCB. Wedbush reissued 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 upgraded shares of New York Community Bancorp from an “underperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. boosted their price target on shares of New York Community Bancorp from $11.50 to $12.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, Barclays upgraded shares of New York Community Bancorp from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $10.00 to $14.00 in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, New York Community Bancorp presently has an average rating of “Hold” and an average price target of $17.48.

New York Community Bancorp Price Performance

The stock has a market capitalization of $4.38 billion, a P/E ratio of -2.42 and a beta of 1.00. The firm’s 50-day moving average is $11.07 and its two-hundred day moving average is $12.22. The company has a current ratio of 1.14, a quick ratio of 1.11 and a debt-to-equity ratio of 2.52. New York Community Bancorp has a twelve month low of $5.10 and a twelve month high of $34.47.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings data on Friday, October 25th. The financial services provider reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.29). New York Community Bancorp had a negative return on equity of 11.35% and a negative net margin of 18.40%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $621.72 million. During the same quarter in the previous year, the firm posted $1.08 earnings per share. On average, research analysts forecast that New York Community Bancorp will post -3 EPS for the current year.

New York Community Bancorp Announces Dividend

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

Institutional Investors Weigh In On New York Community Bancorp

A number of institutional investors have recently made changes to their positions in NYCB. Legacy Capital Group California Inc. boosted its position in shares of New York Community Bancorp by 1.2% during the 2nd quarter. Legacy Capital Group California Inc. now owns 81,618 shares of the financial services provider’s stock worth $263,000 after purchasing an additional 934 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of New York Community Bancorp by 6.2% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 19,642 shares of the financial services provider’s stock worth $63,000 after buying an additional 1,146 shares during the period. CIBC Asset Management Inc boosted its position in shares of New York Community Bancorp by 7.6% during the second quarter. CIBC Asset Management Inc now owns 20,405 shares of the financial services provider’s stock worth $66,000 after buying an additional 1,436 shares during the period. Family Asset Management LLC grew its stake in shares of New York Community Bancorp by 9.2% in the second quarter. Family Asset Management LLC now owns 18,010 shares of the financial services provider’s stock valued at $58,000 after buying an additional 1,510 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of New York Community Bancorp by 4.4% in the 2nd quarter. ProShare Advisors LLC now owns 36,769 shares of the financial services provider’s stock valued at $118,000 after buying an additional 1,544 shares during the period. 67.88% of the stock is currently owned by institutional investors and hedge funds.

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.