New York Community Bancorp, Inc. (NYSE:NYCB) Receives Average Rating of “Hold” from Analysts

Shares of New York Community Bancorp, Inc. (NYSE:NYCB) have been given a consensus recommendation of “Hold” by the fourteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $12.44.

Several brokerages have recently issued reports on NYCB. TheStreet upgraded shares of New York Community Bancorp from a “c+” rating to a “b-” rating in a report on Thursday, August 15th. Stephens set a $12.00 price objective on New York Community Bancorp and gave the company a “hold” rating in a report on Friday, November 1st. B. Riley restated a “buy” rating and set a $13.00 price objective on shares of New York Community Bancorp in a research report on Wednesday, November 13th. ValuEngine lowered New York Community Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada downgraded New York Community Bancorp from an “outperform” rating to a “sector perform” rating and set a $13.00 target price for the company. in a research report on Thursday, October 31st.

Several institutional investors have recently modified their holdings of the stock. Municipal Employees Retirement System of Michigan lifted its stake in shares of New York Community Bancorp by 1.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 86,400 shares of the financial services provider’s stock worth $862,000 after acquiring an additional 920 shares during the period. Texas Permanent School Fund raised its holdings in New York Community Bancorp by 0.3% during the 3rd quarter. Texas Permanent School Fund now owns 318,104 shares of the financial services provider’s stock worth $3,992,000 after purchasing an additional 927 shares during the last quarter. Captrust Financial Advisors raised its holdings in New York Community Bancorp by 57.8% during the 2nd quarter. Captrust Financial Advisors now owns 2,730 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,000 shares during the last quarter. Advisory Services Network LLC raised its holdings in New York Community Bancorp by 18.1% during the 2nd quarter. Advisory Services Network LLC now owns 6,933 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 1,063 shares during the last quarter. Finally, 6 Meridian lifted its position in shares of New York Community Bancorp by 2.3% in the 2nd quarter. 6 Meridian now owns 47,062 shares of the financial services provider’s stock worth $470,000 after purchasing an additional 1,071 shares during the period. 60.66% of the stock is currently owned by institutional investors.

New York Community Bancorp stock traded down $0.04 during midday trading on Tuesday, reaching $11.76. The company’s stock had a trading volume of 4,405,003 shares, compared to its average volume of 5,165,207. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 2.25. The stock has a market cap of $5.51 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 1.55 and a beta of 1.00. New York Community Bancorp has a 52 week low of $8.61 and a 52 week high of $13.79. The business has a 50-day moving average price of $12.39 and a 200-day moving average price of $11.44.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. New York Community Bancorp had a net margin of 20.96% and a return on equity of 6.42%. The company had revenue of $260.03 million for the quarter, compared to the consensus estimate of $255.13 million. During the same period last year, the company posted $0.20 EPS. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. As a group, research analysts predict that New York Community Bancorp will post 0.77 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 11th were issued a dividend of $0.17 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.78%. New York Community Bancorp’s dividend payout ratio (DPR) is presently 86.08%.

About New York Community Bancorp

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

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

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