New York Community Bancorp, Inc. (NYSE:NYCB) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of New York Community Bancorp, Inc. (NYSE:NYCB) have received an average recommendation of “Reduce” from the fifteen research firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $5.64.

Several analysts recently issued reports on the company. Barclays assumed coverage on New York Community Bancorp in a research note on Friday, March 8th. They issued an “equal weight” rating and a $4.00 price target for the company. Wedbush dropped their price objective on shares of New York Community Bancorp from $3.50 to $3.00 and set an “underperform” rating for the company in a research note on Thursday, March 7th. Jefferies Financial Group lowered shares of New York Community Bancorp from a “buy” rating to a “hold” rating and decreased their target price for the stock from $13.00 to $7.00 in a research report on Thursday, February 1st. DA Davidson downgraded shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and dropped their price target for the company from $8.50 to $5.00 in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. downgraded New York Community Bancorp from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $11.50 to $5.50 in a research report on Wednesday, February 7th.

New York Community Bancorp Stock Down 1.1 %

NYCB stock opened at $3.22 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 2.70. The business’s 50 day simple moving average is $4.47 and its 200 day simple moving average is $8.19. New York Community Bancorp has a 1-year low of $1.70 and a 1-year high of $14.22. The firm has a market capitalization of $2.57 billion, a PE ratio of 0.97, a PEG ratio of 2.11 and a beta of 0.91.

New York Community Bancorp (NYSE:NYCB) last announced its earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) EPS for the quarter, missing the consensus estimate of $0.29 by ($0.56). The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $935.90 million. New York Community Bancorp had a return on equity of 6.22% and a net margin of 28.96%. During the same period in the previous year, the firm posted $0.25 EPS. As a group, research analysts anticipate that New York Community Bancorp will post 0.15 EPS for the current year.

New York Community Bancorp Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, February 13th. This represents a $0.20 annualized dividend and a dividend yield of 6.22%. New York Community Bancorp’s dividend payout ratio (DPR) is presently 6.01%.

Insider Buying and Selling

In related news, Director Peter Schoels bought 100,000 shares of the business’s stock in a transaction on Friday, February 9th. The stock was acquired at an average price of $4.15 per share, with a total value of $415,000.00. Following the transaction, the director now owns 147,438 shares in the company, valued at approximately $611,867.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other New York Community Bancorp news, Director Peter Schoels bought 100,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was bought at an average cost of $4.15 per share, for a total transaction of $415,000.00. Following the completion of the transaction, the director now owns 147,438 shares of the company’s stock, valued at approximately $611,867.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Marshall Lux purchased 27,100 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was acquired at an average price of $3.69 per share, for a total transaction of $99,999.00. Following the completion of the transaction, the director now directly owns 64,872 shares of the company’s stock, valued at approximately $239,377.68. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 213,410 shares of company stock worth $875,626. 1.62% of the stock is owned by corporate insiders.

Institutional Trading of New York Community Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Orion Capital Management LLC bought a new position in shares of New York Community Bancorp in the third quarter worth about $28,000. Loomis Sayles & Co. L P bought a new stake in shares of New York Community Bancorp during the third quarter valued at approximately $29,000. Naples Money Management LLC purchased a new position in shares of New York Community Bancorp in the fourth quarter worth $30,000. Point72 Hong Kong Ltd bought a new position in shares of New York Community Bancorp during the second quarter worth $27,000. Finally, Point72 Asset Management L.P. purchased a new position in New York Community Bancorp during the second quarter valued at $35,000. 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.