New York Community Bancorp (NYSE:NYCB) Now Covered by Analysts at StockNews.com

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

NYCB has been the subject of a number of other reports. Raymond James raised shares of New York Community Bancorp from an “underperform” rating to a “market perform” rating in a report on Tuesday, September 17th. JPMorgan Chase & Co. lifted their price objective on shares of New York Community Bancorp from $11.50 to $12.50 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Barclays raised shares of New York Community Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $10.00 to $14.00 in a report on Thursday, September 26th. Finally, Wedbush reaffirmed a “neutral” rating and set a $31.50 price objective on shares of New York Community Bancorp in a report on Friday, July 26th. One equities research 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.com, the company has a consensus rating of “Hold” and an average target price of $17.48.

New York Community Bancorp Trading Down 8.3 %

Shares of NYCB stock opened at $10.55 on Friday. The company has a 50 day moving average of $11.06 and a 200-day moving average of $12.25. The company has a quick ratio of 1.11, a current ratio of 1.14 and a debt-to-equity ratio of 2.52. New York Community Bancorp has a 12-month low of $5.10 and a 12-month high of $34.47. The firm has a market cap of $4.38 billion, a P/E ratio of -2.42 and a beta of 1.00.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings data on Friday, October 25th. The financial services provider reported ($0.69) earnings per share 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 analysts’ expectations 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 quarter in the prior year, the firm posted $1.08 earnings per share. Sell-side analysts anticipate that New York Community Bancorp will post -3 earnings per share for the current year.

New York Community Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Saturday, December 7th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.38%. New York Community Bancorp’s dividend payout ratio is presently -0.92%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sei Investments Co. lifted its position in New York Community Bancorp by 32.4% during the first quarter. Sei Investments Co. now owns 352,908 shares of the financial services provider’s stock valued at $1,136,000 after purchasing an additional 86,355 shares during the period. CANADA LIFE ASSURANCE Co raised its position in New York Community Bancorp by 6.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 588,329 shares of the financial services provider’s stock worth $1,889,000 after acquiring an additional 35,264 shares during the period. Pitcairn Co. raised its position in New York Community Bancorp by 307.0% in the first quarter. Pitcairn Co. now owns 70,066 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 52,851 shares during the period. Axxcess Wealth Management LLC raised its position in New York Community Bancorp by 67.2% in the first quarter. Axxcess Wealth Management LLC now owns 32,340 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 13,000 shares during the period. Finally, Alpine Global Management LLC bought a new position in New York Community Bancorp in the first quarter worth approximately $167,000. 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.