New York Community Bancorp (NYSE:NYCB) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of New York Community Bancorp (NYSE:NYCB) in a report released on Thursday. The brokerage issued a sell rating on the financial services provider’s stock.

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

New York Community Bancorp Stock Performance

The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of -2.42 and a beta of 1.00. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.14 and a quick ratio of 1.11. New York Community Bancorp has a twelve month low of $5.10 and a twelve month high of $34.47. The firm has a fifty day moving average price of $11.07 and a two-hundred day moving average price of $12.22.

New York Community Bancorp (NYSE:NYCB) last posted its earnings results on Friday, October 25th. The financial services provider reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.29). The business had revenue of $1.65 billion for 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 last year, the business posted $1.08 earnings per share. As a group, sell-side analysts forecast that New York Community Bancorp will post -3 EPS for the current fiscal year.

New York Community Bancorp Announces Dividend

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

Institutional Investors Weigh In On New York Community Bancorp

A number of institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP acquired a new position in shares of New York Community Bancorp in the 3rd quarter valued at about $29,000. Hantz Financial Services Inc. acquired a new position in New York Community Bancorp during the second quarter valued at approximately $28,000. AlphaMark Advisors LLC grew its stake in New York Community Bancorp by 26.0% during the second quarter. AlphaMark Advisors LLC now owns 8,734 shares of the financial services provider’s stock worth $28,000 after buying an additional 1,803 shares during the period. Carmichael Hill & Associates Inc. grew its stake in New York Community Bancorp by 201.0% during the second quarter. Carmichael Hill & Associates Inc. now owns 9,029 shares of the financial services provider’s stock worth $29,000 after buying an additional 6,029 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in shares of New York Community Bancorp by 4,665.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,530 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 9,330 shares during the period. Hedge funds and other 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.