New York Community Bancorp (NYSE:NYCB) Upgraded at Barclays

Barclays upgraded shares of New York Community Bancorp (NYSE:NYCB) from an equal weight rating to an overweight rating in a research note issued to investors on Thursday morning, MarketBeat reports. They currently have $14.00 price target on the financial services provider’s stock, up from their prior price target of $10.00.

Several other analysts have also weighed in on the company. Citigroup upped their target price on New York Community Bancorp from $3.50 to $4.00 and gave the company a neutral rating in a report on Wednesday, July 3rd. StockNews.com raised shares of New York Community Bancorp to a sell rating in a research note on Friday, July 19th. Keefe, Bruyette & Woods lifted their target price on shares of New York Community Bancorp from $11.25 to $33.75 and gave the stock a market perform rating in a research report on Monday, July 15th. Wedbush reiterated a neutral rating and issued a $31.50 price target on shares of New York Community Bancorp in a research report on Friday, July 26th. Finally, Raymond James raised shares of New York Community Bancorp from an underperform rating to a market perform rating in a research note on Tuesday, September 17th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, New York Community Bancorp has a consensus rating of Hold and a consensus target price of $9.70.

New York Community Bancorp Stock Up 0.4 %

Shares of NYSE NYCB opened at $11.46 on Thursday. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 382.00 and a beta of 1.00. New York Community Bancorp has a 52 week low of $5.10 and a 52 week high of $34.50. The firm has a 50-day moving average price of $13.30 and a 200 day moving average price of $7.87. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 3.66.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported ($3.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.26) by ($1.89). The company had revenue of $671.00 million for the quarter, compared to analyst estimates of $722.47 million. New York Community Bancorp had a negative net margin of 10.78% and a negative return on equity of 4.49%. New York Community Bancorp’s revenue was down 44.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.23 earnings per share. Equities research analysts anticipate that New York Community Bancorp will post -2.43 EPS for the current fiscal year.

New York Community Bancorp Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Saturday, September 7th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.35%. The ex-dividend date was Friday, September 6th. New York Community Bancorp’s dividend payout ratio (DPR) is 133.33%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NYCB. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in New York Community Bancorp during the second quarter worth approximately $2,879,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of New York Community Bancorp during the 2nd quarter worth $70,000. Sanctuary Advisors LLC purchased a new position in shares of New York Community Bancorp in the 2nd quarter worth $68,000. Cetera Investment Advisers boosted its holdings in New York Community Bancorp by 24.1% in the second quarter. Cetera Investment Advisers now owns 385,449 shares of the financial services provider’s stock valued at $1,241,000 after acquiring an additional 74,811 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its position in New York Community Bancorp by 279.4% during the second quarter. Point72 Asset Management L.P. now owns 740,521 shares of the financial services provider’s stock valued at $2,384,000 after acquiring an additional 545,321 shares during the period. 67.88% of the stock is currently owned by hedge funds and other 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.