New York Community Bancorp (NYSE:NYCB) Raised to “Neutral” at Wedbush

Wedbush upgraded shares of New York Community Bancorp (NYSE:NYCB) from an underperform rating to a neutral rating in a report issued on Wednesday, Marketbeat Ratings reports. They currently have $3.50 price target on the financial services provider’s stock, up from their prior price target of $3.00. Wedbush also issued estimates for New York Community Bancorp’s Q1 2025 earnings at $0.04 EPS.

A number of other equities research analysts also recently issued reports on the company. Barclays began coverage on New York Community Bancorp in a research report on Friday, March 8th. They set an equal weight rating and a $4.00 price objective on the stock. Raymond James lowered shares of New York Community Bancorp from a market perform rating to an underperform rating and set a $3.00 price objective for the company. in a research note on Monday, March 18th. TheStreet downgraded shares of New York Community Bancorp from a b- rating to a c+ rating in a research note on Monday, February 5th. Citigroup dropped their price target on shares of New York Community Bancorp from $5.00 to $3.50 and set a neutral rating for the company in a research note on Thursday, March 7th. Finally, Jefferies Financial Group lowered shares of New York Community Bancorp from a buy rating to a hold rating and reduced their price objective for the stock from $13.00 to $7.00 in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, New York Community Bancorp currently has a consensus rating of Hold and a consensus price target of $5.39.

New York Community Bancorp Price Performance

NYCB stock opened at $3.53 on Wednesday. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.17 and a current ratio of 1.18. The company’s fifty day moving average price is $3.36 and its 200-day moving average price is $7.02. New York Community Bancorp has a one year low of $1.70 and a one year high of $14.22. The company has a market capitalization of $2.82 billion, a PE ratio of 353.00 and a beta of 0.95.

New York Community Bancorp (NYSE:NYCB) last issued its quarterly earnings data on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. The firm had revenue of $633.00 million during the quarter, compared to analyst estimates of $776.81 million. New York Community Bancorp had a return on equity of 2.78% and a net margin of 0.62%. The business’s quarterly revenue was down 76.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 earnings per share. On average, equities analysts anticipate that New York Community Bancorp will post -0.08 EPS for the current fiscal year.

New York Community Bancorp Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, June 7th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Friday, June 7th. New York Community Bancorp’s payout ratio is 2,000.00%.

Insiders Place Their Bets

In related news, Director Marshall Lux purchased 27,100 shares of New York Community Bancorp stock in a transaction dated Thursday, March 21st. The stock was purchased at an average cost of $3.69 per share, with a total value of $99,999.00. Following the transaction, the director now owns 64,872 shares in the company, valued at approximately $239,377.68. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Lee Matthew Smith bought 25,000 shares of the stock in a transaction on Friday, February 9th. The stock was bought at an average cost of $4.05 per share, for a total transaction of $101,250.00. Following the completion of the purchase, the executive vice president now directly owns 1,440,683 shares in the company, valued at $5,834,766.15. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marshall Lux purchased 27,100 shares of New York Community Bancorp stock in a transaction dated Thursday, March 21st. The shares were acquired at an average cost of $3.69 per share, for a total transaction of $99,999.00. Following the completion of the transaction, the director now owns 64,872 shares of the company’s stock, valued at approximately $239,377.68. The disclosure for this purchase can be found here. Insiders purchased a total of 213,410 shares of company stock worth $875,626 over the last 90 days. Company insiders own 1.62% of the company’s stock.

Institutional Trading of New York Community Bancorp

Institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc raised its stake in New York Community Bancorp by 3,583.0% in the first quarter. Versant Capital Management Inc now owns 8,250 shares of the financial services provider’s stock valued at $27,000 after buying an additional 8,026 shares during the last quarter. Orion Capital Management LLC acquired a new position in shares of New York Community Bancorp during the third quarter valued at about $28,000. Loomis Sayles & Co. L P purchased a new position in shares of New York Community Bancorp in the 3rd quarter valued at approximately $29,000. Naples Money Management LLC purchased a new position in shares of New York Community Bancorp in the 4th quarter valued at approximately $30,000. Finally, FinTrust Capital Advisors LLC boosted its stake in New York Community Bancorp by 66.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 9,673 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 3,876 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

About New York Community Bancorp

New York Community Bancorp, Inc operates as the bank holding company for Flagstar Bank, N.A. that provides banking products and services in the United States. The company's deposit products include interest-bearing checking and money market, savings, non-interest-bearing, and retirement accounts, as well as certificates of deposit.