Shares of New York Community Bancorp, Inc. (NYSE:NYCB) have received an average recommendation of “Hold” from the thirteen brokerages that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and ten have issued a hold recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $14.04.
Several research analysts have recently issued reports on the stock. BidaskClub upgraded shares of New York Community Bancorp from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Stephens assumed coverage on shares of New York Community Bancorp in a research note on Wednesday, April 5th. They issued an “equal weight” rating on the stock. ValuEngine upgraded shares of New York Community Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, May 11th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $13.50 target price on shares of New York Community Bancorp in a research note on Wednesday, April 26th. Finally, FBR & Co dropped their target price on shares of New York Community Bancorp from $13.00 to $12.00 and set an “underperform” rating on the stock in a research note on Thursday, April 27th.
New York Community Bancorp (NYCB) traded up 0.93% during midday trading on Friday, reaching $13.05. 807,246 shares of the company’s stock traded hands. The firm has a market cap of $6.38 billion, a PE ratio of 14.22 and a beta of 0.59. The firm’s 50-day moving average is $13.11 and its 200 day moving average is $13.92. New York Community Bancorp has a 52-week low of $12.61 and a 52-week high of $17.68.
New York Community Bancorp (NYSE:NYCB) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03. The firm had revenue of $338.21 million for the quarter, compared to the consensus estimate of $326.36 million. New York Community Bancorp had a net margin of 25.67% and a return on equity of 7.46%. During the same quarter in the prior year, the firm posted $0.26 earnings per share. Equities research analysts expect that New York Community Bancorp will post $0.79 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, August 7th will be given a dividend of $0.17 per share. The ex-dividend date is Thursday, August 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 5.26%. New York Community Bancorp’s dividend payout ratio (DPR) is 73.91%.
A number of hedge funds and other institutional investors have recently modified their holdings of NYCB. Daiwa Securities Group Inc. increased its position in shares of New York Community Bancorp by 12.6% in the first quarter. Daiwa Securities Group Inc. now owns 13,400 shares of the financial services provider’s stock worth $187,000 after buying an additional 1,500 shares during the period. Cadence Capital Management LLC increased its position in shares of New York Community Bancorp by 16.4% in the first quarter. Cadence Capital Management LLC now owns 72,150 shares of the financial services provider’s stock worth $1,008,000 after buying an additional 10,192 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of New York Community Bancorp during the first quarter worth $608,000. Massachusetts Financial Services Co. MA increased its position in shares of New York Community Bancorp by 2.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,971,604 shares of the financial services provider’s stock worth $27,543,000 after buying an additional 54,147 shares during the period. Finally, Capstone Asset Management Co. increased its position in shares of New York Community Bancorp by 2.3% in the first quarter. Capstone Asset Management Co. now owns 42,587 shares of the financial services provider’s stock worth $595,000 after buying an additional 960 shares during the period. Institutional investors own 58.75% 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.
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