New York Community Bancorp, Inc. (NYSE:NYCB) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of New York Community Bancorp, Inc. (NYSE:NYCB) from a sell rating to a hold rating in a research report report published on Tuesday, August 1st.

According to Zacks, “New York Community Bancorp, Inc. is a leading producer of multi-family loans in New York City, with an emphasis on apartment buildings that feature below-market rents. The Company has two bank subsidiaries: New York Community Bank, with 178 branches serving customers throughout Metro New York and New Jersey; and New York Commercial Bank, with 36 branches serving customers in Manhattan, Queens, Brooklyn, Long Island, and Westchester County in New York. Reflecting its growth through a series of acquisitions, the Community Bank operates through five local divisions: Queens County Savings Bank in Queens, Roslyn Savings Bank on Long Island, Richmond County Savings Bank on Staten Island, Roosevelt Savings Bank in Brooklyn, and Garden State Community Bank in New Jersey. Similarly, the Commercial Bank operates 17 of its branches under the name Atlantic Bank. “

A number of other analysts have also weighed in on the stock. ValuEngine raised shares of New York Community Bancorp from a hold rating to a buy rating in a research report on Thursday, May 11th. BidaskClub lowered shares of New York Community Bancorp from a sell rating to a strong sell rating in a research report on Wednesday, July 19th. Stephens started coverage on shares of New York Community Bancorp in a research report on Wednesday, April 5th. They set an equal weight rating on the stock. Morgan Stanley reaffirmed an equal weight rating and set a $13.75 target price (down from $14.00) on shares of New York Community Bancorp in a research report on Friday, July 7th. Finally, FBR & Co reduced their target price on shares of New York Community Bancorp from $14.00 to $13.00 and set an underperform rating on the stock in a research report on Friday, April 7th. Three equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. The company has a consensus rating of Hold and an average target price of $14.03.

New York Community Bancorp (NYCB) traded down 1.16% during mid-day trading on Tuesday, hitting $11.94. The company had a trading volume of 5,990,124 shares. The stock has a market capitalization of $5.84 billion, a PE ratio of 12.99 and a beta of 0.58. New York Community Bancorp has a 1-year low of $11.91 and a 1-year high of $17.68. The stock has a 50 day moving average price of $12.86 and a 200-day moving average price of $13.60.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03. New York Community Bancorp had a net margin of 25.67% and a return on equity of 7.46%. The company had revenue of $338.21 million for the quarter, compared to analyst estimates of $326.36 million. During the same period in the prior year, the company posted $0.26 EPS. On average, analysts forecast that New York Community Bancorp will post $0.82 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, August 7th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.68 annualized dividend and a yield of 5.70%. New York Community Bancorp’s dividend payout ratio (DPR) is 73.91%.

Large investors have recently made changes to their positions in the stock. Nationwide Fund Advisors increased its stake in shares of New York Community Bancorp by 0.6% in the first quarter. Nationwide Fund Advisors now owns 824,108 shares of the financial services provider’s stock valued at $11,513,000 after buying an additional 5,155 shares during the period. State of Alaska Department of Revenue increased its stake in New York Community Bancorp by 53.6% in the first quarter. State of Alaska Department of Revenue now owns 166,761 shares of the financial services provider’s stock valued at $2,329,000 after buying an additional 58,205 shares during the last quarter. DnB Asset Management AS increased its stake in New York Community Bancorp by 25.4% in the first quarter. DnB Asset Management AS now owns 36,027 shares of the financial services provider’s stock valued at $503,000 after buying an additional 7,300 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in New York Community Bancorp by 2.4% in the first quarter. Louisiana State Employees Retirement System now owns 123,300 shares of the financial services provider’s stock valued at $1,723,000 after buying an additional 2,900 shares during the last quarter. Finally, Oliver Luxxe Assets LLC increased its stake in New York Community Bancorp by 4.5% in the first quarter. Oliver Luxxe Assets LLC now owns 214,482 shares of the financial services provider’s stock valued at $2,996,000 after buying an additional 9,247 shares during the last quarter. Institutional investors own 58.88% of the company’s stock.

New York Community Bancorp Company Profile

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.

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

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