New York Community Bancorp, Inc. (NYSE:NYCB) Given Average Rating of “Hold” by Brokerages

Shares of New York Community Bancorp, Inc. (NYSE:NYCB) have been assigned a consensus recommendation of “Hold” from the fourteen research firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $11.96.

NYCB has been the topic of a number of recent research reports. ValuEngine downgraded shares of New York Community Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, May 19th. Morgan Stanley increased their target price on shares of New York Community Bancorp from $10.50 to $11.00 and gave the company an “underweight” rating in a research note on Monday, June 8th. Deutsche Bank increased their target price on shares of New York Community Bancorp from $10.50 to $11.50 and gave the company a “hold” rating in a research note on Thursday. Compass Point reduced their target price on shares of New York Community Bancorp from $11.00 to $10.50 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Finally, B. Riley reissued a “buy” rating and issued a $14.00 target price on shares of New York Community Bancorp in a research note on Tuesday, June 23rd.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board grew its holdings in shares of New York Community Bancorp by 328.8% in the first quarter. Canada Pension Plan Investment Board now owns 63,093 shares of the financial services provider’s stock worth $592,000 after purchasing an additional 48,379 shares during the last quarter. Mount Yale Investment Advisors LLC bought a new position in shares of New York Community Bancorp in the second quarter worth about $145,000. Wedge Capital Management L L P NC bought a new position in shares of New York Community Bancorp in the second quarter worth about $340,000. Asset Management One Co. Ltd. grew its holdings in shares of New York Community Bancorp by 18.5% in the first quarter. Asset Management One Co. Ltd. now owns 171,915 shares of the financial services provider’s stock worth $1,614,000 after purchasing an additional 26,813 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in New York Community Bancorp by 0.8% during the 1st quarter. Legal & General Group Plc now owns 1,313,719 shares of the financial services provider’s stock worth $12,336,000 after acquiring an additional 9,938 shares in the last quarter. Hedge funds and other institutional investors own 61.94% of the company’s stock.

New York Community Bancorp stock traded down $0.23 during mid-day trading on Friday, reaching $10.53. 2,749,312 shares of the company’s stock traded hands, compared to its average volume of 3,543,664. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 1.25 and a beta of 0.94. The stock has a 50 day moving average of $10.15 and a two-hundred day moving average of $10.42. The company has a quick ratio of 1.36, a current ratio of 1.38 and a debt-to-equity ratio of 2.47. New York Community Bancorp has a 12-month low of $8.19 and a 12-month high of $13.79.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.02. The company had revenue of $281.25 million for the quarter, compared to the consensus estimate of $276.23 million. New York Community Bancorp had a net margin of 21.57% and a return on equity of 6.43%. During the same quarter in the prior year, the firm earned $0.19 earnings per share. As a group, sell-side analysts forecast that New York Community Bancorp will post 0.85 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 18th. Stockholders of record on Saturday, August 8th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 6.46%. The ex-dividend date is Thursday, August 6th. New York Community Bancorp’s payout ratio is presently 88.31%.

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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