New York Community Bancorp (NYSE:NYCB) Price Target Cut to $4.00 by Analysts at Barclays

New York Community Bancorp (NYSE:NYCB) had its price objective reduced by Barclays from $5.00 to $4.00 in a research note published on Monday morning, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

NYCB has been the subject of several other reports. Royal Bank of Canada lowered their price objective on New York Community Bancorp from $5.00 to $4.00 and set a sector perform rating for the company in a research note on Tuesday, April 9th. Piper Sandler upgraded New York Community Bancorp from a neutral rating to an overweight rating and set a $4.00 price target for the company in a research report on Wednesday, May 1st. Citigroup cut their price objective on shares of New York Community Bancorp from $5.00 to $3.50 and set a neutral rating on the stock in a research report on Thursday, March 7th. Wedbush upgraded shares of New York Community Bancorp from an underperform rating to a neutral rating and raised their target price for the stock from $3.00 to $3.50 in a report on Wednesday, May 1st. Finally, Raymond James downgraded shares of New York Community Bancorp from a market perform rating to an underperform rating and set a $3.00 price target on the stock. in a report on Monday, March 18th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $5.39.

New York Community Bancorp Trading Up 2.7 %

Shares of NYCB opened at $3.07 on Monday. The stock has a market capitalization of $2.52 billion, a PE ratio of 307.00 and a beta of 0.98. The company’s fifty day moving average is $3.27 and its 200 day moving average is $5.33. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.26 and a current ratio of 1.27. New York Community Bancorp has a fifty-two week low of $1.70 and a fifty-two week high of $14.22.

New York Community Bancorp (NYSE:NYCB) last posted its earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.01. New York Community Bancorp had a net margin of 0.62% and a return on equity of 2.91%. The firm had revenue of $633.00 million for the quarter, compared to the consensus estimate of $776.81 million. During the same period in the previous year, the firm posted $0.23 EPS. The business’s quarterly revenue was down 76.1% on a year-over-year basis. Sell-side analysts expect that New York Community Bancorp will post -0.49 earnings per share for the current fiscal year.

New York Community Bancorp Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, June 7th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Friday, June 7th. New York Community Bancorp’s payout ratio is 400.00%.

Institutional Trading of New York Community Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP increased its position in New York Community Bancorp by 7.5% during the 3rd quarter. Wellington Management Group LLP now owns 67,668,954 shares of the financial services provider’s stock valued at $767,366,000 after purchasing an additional 4,723,876 shares during the period. Norges Bank purchased a new position in New York Community Bancorp during the fourth quarter valued at approximately $77,628,000. Kahn Brothers Group Inc. increased its holdings in New York Community Bancorp by 0.9% during the first quarter. Kahn Brothers Group Inc. now owns 6,213,289 shares of the financial services provider’s stock valued at $20,007,000 after buying an additional 53,275 shares during the period. Westfield Capital Management Co. LP raised its stake in New York Community Bancorp by 154.0% in the third quarter. Westfield Capital Management Co. LP now owns 5,135,955 shares of the financial services provider’s stock worth $58,242,000 after buying an additional 3,114,070 shares in the last quarter. Finally, Cannell & Co. lifted its holdings in New York Community Bancorp by 12.3% during the fourth quarter. Cannell & Co. now owns 4,574,137 shares of the financial services provider’s stock worth $46,793,000 after buying an additional 500,545 shares during the period. 67.88% of the stock is currently owned by institutional investors.

New York Community Bancorp Company Profile

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.