New York Community Bancorp, Inc. (NYSE:NYCB) Receives Consensus Recommendation of “Hold” from Brokerages

New York Community Bancorp, Inc. (NYSE:NYCB) has been given an average rating of “Hold” by the fifteen ratings firms that are currently covering the firm, Marketbeat.com reports. Thirteen equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $17.48.

A number of brokerages recently issued reports on NYCB. 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. Citigroup boosted their price target on shares of New York Community Bancorp from $10.50 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 3rd. Wedbush restated a “neutral” rating and set a $31.50 price objective on shares of New York Community Bancorp in a report on Friday, July 26th. StockNews.com upgraded New York Community Bancorp to a “sell” rating in a report on Friday, July 19th. Finally, Keefe, Bruyette & Woods boosted their price target on New York Community Bancorp from $11.25 to $33.75 and gave the company a “market perform” rating in a research note on Monday, July 15th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its holdings in shares of New York Community Bancorp by 9.6% during the 2nd 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 acquiring an additional 844,785 shares during the period. Kahn Brothers Group Inc. lifted its holdings in shares of New York Community Bancorp by 0.9% during the 1st quarter. Kahn Brothers Group Inc. now owns 6,213,289 shares of the financial services provider’s stock valued at $20,007,000 after buying an additional 53,275 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of 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 valued at $13,256,000 after buying an additional 3,740,900 shares during the period. Private Management Group Inc. raised its holdings in 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 worth $10,357,000 after purchasing an additional 1,317,391 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in New York Community Bancorp by 353.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,830,195 shares of the financial services provider’s stock worth $28,953,000 after purchasing an additional 2,206,140 shares during the period. Institutional investors own 67.88% of the company’s stock.

New York Community Bancorp Trading Up 4.6 %

Shares of NYSE:NYCB opened at $12.38 on Thursday. The company’s 50 day moving average is $10.88 and its two-hundred day moving average is $12.08. New York Community Bancorp has a 52 week low of $5.10 and a 52 week high of $34.47. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 3.66. The company has a market cap of $3.39 billion, a PE ratio of 412.67 and a beta of 1.00.

New York Community Bancorp (NYSE:NYCB) last announced 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 company had revenue of $671.00 million during the quarter, compared to analysts’ expectations of $722.47 million. During the same quarter in the prior year, the business earned $4.23 EPS. The business’s revenue for the quarter was down 44.2% compared to the same quarter last year. Equities analysts predict that New York Community Bancorp will post -2.42 earnings per share for the current fiscal year.

New York Community Bancorp Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Saturday, September 7th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend was Friday, September 6th. New York Community Bancorp’s dividend payout ratio (DPR) is currently 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.