New York Community Bancorp, Inc. (NYCB) Upgraded at BidaskClub

BidaskClub upgraded shares of New York Community Bancorp, Inc. (NYSE:NYCB) from a strong sell rating to a sell rating in a research note issued to investors on Wednesday, August 2nd.

Other equities analysts have also recently issued reports about the company. Stephens assumed coverage on New York Community Bancorp in a report on Wednesday, April 5th. They set an equal weight rating on the stock. ValuEngine cut New York Community Bancorp from a buy rating to a hold rating in a report on Friday, June 2nd. FBR & Co lowered their price target on New York Community Bancorp from $13.00 to $12.00 and set an underperform rating on the stock in a report on Thursday, April 27th. Keefe, Bruyette & Woods reissued a hold rating and set a $13.50 price target on shares of New York Community Bancorp in a report on Wednesday, April 26th. Finally, Morgan Stanley increased their price target on New York Community Bancorp from $13.50 to $14.00 and gave the company an equal weight rating in a report on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. New York Community Bancorp has an average rating of Hold and an average price target of $14.46.

New York Community Bancorp (NYSE:NYCB) traded down 0.73% on Wednesday, hitting $12.22. The stock had a trading volume of 4,009,117 shares. New York Community Bancorp has a 1-year low of $12.17 and a 1-year high of $17.68. The company has a market cap of $5.98 billion, a P/E ratio of 13.30 and a beta of 0.58. The stock has a 50 day moving average price of $12.96 and a 200 day moving average price of $13.72.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. The firm had revenue of $338.21 million for the quarter, compared to analysts’ expectations of $326.36 million. New York Community Bancorp had a return on equity of 7.46% and a net margin of 25.67%. During the same period in the prior year, the firm earned $0.26 EPS. On average, equities research analysts expect that New York Community Bancorp will post $0.83 EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, August 7th will be paid a $0.17 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $0.68 annualized dividend and a dividend yield of 5.56%. New York Community Bancorp’s dividend payout ratio (DPR) is 73.91%.

Large investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of New York Community Bancorp by 6,643.8% in the first quarter. BlackRock Inc. now owns 51,206,275 shares of the financial services provider’s stock worth $715,351,000 after buying an additional 50,446,961 shares during the last quarter. Alecta Pensionsforsakring Omsesidigt raised its stake in shares of New York Community Bancorp by 176.3% in the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 10,500,000 shares of the financial services provider’s stock worth $137,865,000 after buying an additional 6,700,000 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of New York Community Bancorp by 4.6% in the first quarter. Vanguard Group Inc. now owns 39,860,379 shares of the financial services provider’s stock worth $556,850,000 after buying an additional 1,759,241 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of New York Community Bancorp by 40.0% in the second quarter. Dimensional Fund Advisors LP now owns 5,311,010 shares of the financial services provider’s stock worth $69,738,000 after buying an additional 1,517,864 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of New York Community Bancorp by 3,824.7% in the first quarter. American Century Companies Inc. now owns 1,308,768 shares of the financial services provider’s stock worth $18,283,000 after buying an additional 1,275,421 shares during the last quarter. Hedge funds and other institutional investors own 58.67% of the company’s stock.

About New York Community Bancorp

New York Community Bancorp, Inc is a multi-bank holding company. The Company operates through its subsidiaries, New York Community Bank (the Community Bank) and New York Commercial Bank (the Commercial Bank) (collectively, the Banks). The Company’s operations are divided into two segments: Banking Operations and Residential Mortgage Banking.

Analyst Recommendations for New York Community Bancorp (NYSE:NYCB)

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