StockNews.com Initiates Coverage on New York Community Bancorp (NYSE:NYCB)

StockNews.com began coverage on shares of New York Community Bancorp (NYSE:NYCB) in a report issued on Friday morning. The brokerage issued a sell rating on the financial services provider’s stock.

A number of other brokerages have also weighed in on NYCB. Barclays upgraded shares of New York Community Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $10.00 to $14.00 in a report on Thursday, September 26th. Raymond James upgraded New York Community Bancorp from an “underperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. Wedbush reaffirmed a “neutral” rating and set a $31.50 price target on shares of New York Community Bancorp in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. increased their price objective 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $17.48.

New York Community Bancorp Trading Down 8.3 %

Shares of New York Community Bancorp stock opened at $10.55 on Friday. The firm has a market cap of $4.38 billion, a price-to-earnings ratio of -2.42 and a beta of 1.00. The company’s 50-day simple moving average is $11.06 and its 200-day simple moving average is $12.24. New York Community Bancorp has a 52-week low of $5.10 and a 52-week high of $34.47. The company has a quick ratio of 1.11, a current ratio of 1.14 and a debt-to-equity ratio of 2.52.

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

New York Community Bancorp Dividend Announcement

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

Institutional Trading of New York Community Bancorp

A number of large investors have recently added to or reduced their stakes in NYCB. Algert Global LLC raised its position in shares of New York Community Bancorp by 144.5% during the second quarter. Algert Global LLC now owns 461,902 shares of the financial services provider’s stock worth $1,487,000 after purchasing an additional 273,002 shares during the period. Intech Investment Management LLC acquired a new stake in shares of New York Community Bancorp during the second quarter valued at approximately $575,000. Point72 Asset Management L.P. lifted its position in shares of New York Community Bancorp by 279.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 740,521 shares of the financial services provider’s stock valued at $2,384,000 after acquiring an additional 545,321 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in New York Community Bancorp by 49.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 949,821 shares of the financial services provider’s stock worth $3,058,000 after purchasing an additional 315,960 shares during the period. Finally, Alaska Permanent Fund Corp purchased a new position in New York Community Bancorp during the 3rd quarter worth approximately $1,018,000. 67.88% of the stock is currently owned by institutional investors.

New York Community Bancorp Company Profile

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.