New York Community Bancorp, Inc. (NYSE:NYCB) announced a quarterly dividend on Thursday, January 31st, Wall Street Journal reports. Shareholders of record on Tuesday, February 12th will be paid a dividend of 0.17 per share by the financial services provider on Tuesday, February 26th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.85%. The ex-dividend date of this dividend is Monday, February 11th.
New York Community Bancorp has decreased its dividend by an average of 12.1% annually over the last three years. New York Community Bancorp has a payout ratio of 84.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect New York Community Bancorp to earn $0.79 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 86.1%.
Shares of NYCB traded up $0.19 during midday trading on Thursday, reaching $11.62. The company had a trading volume of 12,160,301 shares, compared to its average volume of 6,100,200. New York Community Bancorp has a 1-year low of $8.61 and a 1-year high of $14.53. The company has a market capitalization of $5.60 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 1.37 and a beta of 0.74. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 2.20.
A number of brokerages have issued reports on NYCB. UBS Group raised New York Community Bancorp from a “sell” rating to a “neutral” rating and raised their target price for the stock from $9.50 to $10.00 in a research note on Tuesday, January 8th. Barclays downgraded New York Community Bancorp from an “equal weight” rating to an “underweight” rating in a research note on Thursday, January 10th. Credit Suisse Group reaffirmed a “hold” rating and issued a $11.00 target price on shares of New York Community Bancorp in a research note on Monday, January 7th. Zacks Investment Research reaffirmed a “hold” rating on shares of New York Community Bancorp in a research note on Monday, December 31st. Finally, B. Riley set a $11.00 target price on New York Community Bancorp and gave the stock a “hold” rating in a research note on Monday, October 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $11.85.
New York Community Bancorp Company Profile
New York Community Bancorp, Inc operates as a holding company for New York Community Bank and New York Commercial Bank that offer banking products and financial services in Metro New York, New Jersey, Ohio, Florida, and Arizona. The company offers various deposit products that include checking and savings accounts, individual retirement accounts, certificates of deposit, NOW and money market accounts, and non-interest-bearing accounts.
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