New York Community Bancorp (NYCB) Lifted to Neutral at Piper Jaffray Companies

Piper Jaffray Companies upgraded shares of New York Community Bancorp (NYSE:NYCB) from an underweight rating to a neutral rating in a research report released on Friday morning, Marketbeat.com reports. Piper Jaffray Companies currently has $9.00 price objective on the financial services provider’s stock, down from their prior price objective of $10.00. Piper Jaffray Companies also issued estimates for New York Community Bancorp’s FY2018 earnings at $0.79 EPS, Q2 2019 earnings at $0.19 EPS, Q3 2019 earnings at $0.19 EPS, Q1 2020 earnings at $0.19 EPS and Q2 2020 earnings at $0.20 EPS.

Several other research firms have also issued reports on NYCB. Royal Bank of Canada reaffirmed a hold rating and issued a $11.00 price objective on shares of New York Community Bancorp in a research note on Thursday, July 26th. ValuEngine lowered New York Community Bancorp from a sell rating to a strong sell rating in a research note on Wednesday, July 25th. Sandler O’Neill set a $14.00 price objective on New York Community Bancorp and gave the company a buy rating in a research note on Wednesday, July 25th. Credit Suisse Group reaffirmed a neutral rating and issued a $12.00 price objective on shares of New York Community Bancorp in a research note on Tuesday, August 28th. Finally, B. Riley set a $11.00 price target on New York Community Bancorp and gave the stock a hold rating in a research note on Monday, October 15th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $12.32.

NYSE:NYCB opened at $9.28 on Friday. The company has a market capitalization of $4.55 billion, a PE ratio of 11.46, a P/E/G ratio of 1.16 and a beta of 0.65. New York Community Bancorp has a 1 year low of $8.88 and a 1 year high of $14.53. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.37 and a quick ratio of 1.40.



New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings data on Wednesday, October 24th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. The business had revenue of $272.43 million during the quarter, compared to analyst estimates of $285.05 million. New York Community Bancorp had a return on equity of 6.60% and a net margin of 26.41%. During the same period last year, the company earned $0.21 EPS. Research analysts expect that New York Community Bancorp will post 0.8 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Tuesday, November 6th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 7.33%. The ex-dividend date of this dividend is Monday, November 5th. New York Community Bancorp’s dividend payout ratio is currently 83.95%.

Several hedge funds have recently modified their holdings of NYCB. General American Investors Co. Inc. purchased a new position in shares of New York Community Bancorp in the 3rd quarter valued at $12,185,000. W.E. Donoghue & Co. LLC increased its holdings in shares of New York Community Bancorp by 121.1% in the 3rd quarter. W.E. Donoghue & Co. LLC now owns 90,344 shares of the financial services provider’s stock valued at $937,000 after acquiring an additional 49,487 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of New York Community Bancorp by 34.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,547,106 shares of the financial services provider’s stock valued at $36,434,000 after acquiring an additional 899,482 shares during the period. Alps Advisors Inc. increased its holdings in shares of New York Community Bancorp by 32.9% in the 3rd quarter. Alps Advisors Inc. now owns 54,847 shares of the financial services provider’s stock valued at $569,000 after acquiring an additional 13,593 shares during the period. Finally, Cubic Asset Management LLC purchased a new position in shares of New York Community Bancorp in the 3rd quarter valued at $609,000. 64.88% of the stock is owned by hedge funds and other institutional investors.

About New York Community Bancorp

New York Community Bancorp, Inc operates as a holding company for New York Community Bank and New York Commercial Bank that offer banking products and financial services in Metro New York, New Jersey, Ohio, Florida, and Arizona. The company offers various deposit products that include checking and savings accounts, individual retirement accounts, certificates of deposit, NOW and money market accounts, and non-interest-bearing accounts.

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

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