New York Community Bancorp (NYSE:NYCB) Price Target Raised to $12.50

New York Community Bancorp (NYSE:NYCB) had its price target increased by Wedbush from $12.00 to $12.50 in a report published on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

Other analysts also recently issued reports about the company. B. Riley restated a buy rating and set a $14.00 price objective on shares of New York Community Bancorp in a report on Tuesday, June 23rd. ValuEngine downgraded New York Community Bancorp from a hold rating to a sell rating in a report on Tuesday, May 19th. Bank of America reiterated a buy rating and issued a $13.00 price target (up from $12.00) on shares of New York Community Bancorp in a report on Thursday, April 30th. Compass Point lowered their price target on New York Community Bancorp from $11.00 to $10.50 and set a neutral rating for the company in a report on Wednesday, May 13th. Finally, Zacks Investment Research upgraded New York Community Bancorp from a hold rating to a buy rating and set a $11.00 price target for the company in a report on Tuesday, April 14th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $11.96.

Shares of NYCB stock traded down $0.23 on Thursday, reaching $10.53. 2,749,312 shares of the stock were exchanged, compared to its average volume of 3,543,664. The stock has a market cap of $4.89 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 1.25 and a beta of 0.94. The company has a quick ratio of 1.36, a current ratio of 1.38 and a debt-to-equity ratio of 2.47. The firm has a 50 day moving average of $10.15 and a two-hundred day moving average of $10.42. New York Community Bancorp has a 1-year low of $8.19 and a 1-year high of $13.79.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $281.25 million during the quarter, compared to the consensus estimate of $276.23 million. New York Community Bancorp had a return on equity of 6.43% and a net margin of 21.57%. During the same period in the prior year, the firm posted $0.19 EPS. On average, equities research analysts predict that New York Community Bancorp will post 0.85 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 18th. Stockholders of record on Saturday, August 8th will be given a dividend of $0.17 per share. The ex-dividend date is Thursday, August 6th. This represents a $0.68 annualized dividend and a dividend yield of 6.46%. New York Community Bancorp’s payout ratio is 88.31%.

Several hedge funds have recently modified their holdings of NYCB. Norges Bank acquired a new position in New York Community Bancorp in the fourth quarter worth approximately $48,734,000. Nuveen Asset Management LLC raised its position in shares of New York Community Bancorp by 178.4% in the first quarter. Nuveen Asset Management LLC now owns 3,082,391 shares of the financial services provider’s stock valued at $28,944,000 after purchasing an additional 1,975,143 shares during the period. Russell Investments Group Ltd. raised its position in shares of New York Community Bancorp by 36.2% in the first quarter. Russell Investments Group Ltd. now owns 4,985,361 shares of the financial services provider’s stock valued at $47,225,000 after purchasing an additional 1,324,709 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of New York Community Bancorp by 88,797.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,103,219 shares of the financial services provider’s stock valued at $11,252,000 after purchasing an additional 1,101,978 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of New York Community Bancorp by 16.6% in the first quarter. Geode Capital Management LLC now owns 5,982,786 shares of the financial services provider’s stock valued at $56,177,000 after purchasing an additional 850,851 shares during the period. 61.94% of the stock is currently owned by institutional investors and hedge funds.

About New York Community Bancorp

New York Community Bancorp, Inc operates as a bank holding company for New York Community Bank that provides banking products and services in Metro New York, New Jersey, Ohio, Florida, and Arizona. The company offers various deposit products, including interest-bearing checking and money market, savings, non-interest-bearing, and individual retirement accounts, as well as certificates of deposit.

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Analyst Recommendations for New York Community Bancorp (NYSE:NYCB)

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