StockNews.com Initiates Coverage on New York Community Bancorp (NYSE:NYCB)

StockNews.com initiated coverage on shares of New York Community Bancorp (NYSE:NYCB) in a research report report published on Friday morning. The brokerage issued a sell rating on the financial services provider’s stock.

Other equities analysts have also issued research reports about the stock. Raymond James raised shares of New York Community Bancorp from an “underperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. Wedbush restated a “neutral” rating and set a $31.50 price objective on shares of New York Community Bancorp in a report on Friday, July 26th. JPMorgan Chase & Co. increased their target price on shares of New York Community Bancorp from $11.50 to $12.50 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Barclays upgraded New York Community Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $10.00 to $14.00 in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, New York Community Bancorp has a consensus rating of “Hold” and a consensus target price of $17.48.

New York Community Bancorp Stock Performance

The company has a current ratio of 1.14, a quick ratio of 1.11 and a debt-to-equity ratio of 2.52. The company has a 50-day simple moving average of $11.06 and a 200-day simple moving average of $12.24. The firm has a market capitalization of $4.38 billion, a P/E ratio of -2.42 and a beta of 1.00. New York Community Bancorp has a 1 year low of $5.10 and a 1 year high of $34.47.

New York Community Bancorp (NYSE:NYCB) last released its earnings results on Friday, October 25th. The financial services provider reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.29). The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $621.72 million. New York Community Bancorp had a negative net margin of 18.40% and a negative return on equity of 11.35%. During the same period last year, the business earned $1.08 EPS. As a group, equities analysts predict that New York Community Bancorp will post -3 EPS for the current year.

New York Community Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Saturday, December 7th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of ∞. New York Community Bancorp’s payout ratio is presently -0.92%.

Institutional Investors Weigh In On New York Community Bancorp

Several large investors have recently made changes to their positions in NYCB. Legacy Capital Group California Inc. grew its stake in New York Community Bancorp by 1.2% during the second quarter. Legacy Capital Group California Inc. now owns 81,618 shares of the financial services provider’s stock worth $263,000 after buying an additional 934 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of New York Community Bancorp by 6.2% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 19,642 shares of the financial services provider’s stock valued at $63,000 after buying an additional 1,146 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of New York Community Bancorp by 7.6% during the second quarter. CIBC Asset Management Inc now owns 20,405 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 1,436 shares in the last quarter. Family Asset Management LLC raised its position in New York Community Bancorp by 9.2% in the 2nd quarter. Family Asset Management LLC now owns 18,010 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 1,510 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in New York Community Bancorp by 4.4% during the 2nd quarter. ProShare Advisors LLC now owns 36,769 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 1,544 shares during the period. Institutional investors 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.