New York Community Bancorp (NYSE:NYCB) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of New York Community Bancorp (NYSE:NYCB) to a sell rating in a report released on Friday.

Other analysts also recently issued research reports about the stock. Piper Sandler upgraded shares of New York Community Bancorp from a neutral rating to an overweight rating and set a $4.00 price objective for the company in a report on Wednesday, May 1st. Royal Bank of Canada cut their price target on shares of New York Community Bancorp from $5.00 to $4.00 and set a sector perform rating for the company in a report on Tuesday, April 9th. Keefe, Bruyette & Woods raised their price target on shares of New York Community Bancorp from $3.75 to $11.25 and gave the stock a market perform rating in a report on Monday, July 15th. Barclays cut their price target on shares of New York Community Bancorp from $5.00 to $4.00 and set an equal weight rating for the company in a report on Monday, June 24th. Finally, Wedbush upgraded shares of New York Community Bancorp from an underperform rating to a neutral rating and raised their price target for the stock from $3.00 to $3.50 in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, New York Community Bancorp presently has an average rating of Hold and a consensus price target of $5.38.

New York Community Bancorp Stock Up 0.8 %

NYCB stock opened at $11.18 on Friday. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 372.67 and a beta of 0.99. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 3.39. New York Community Bancorp has a 12 month low of $5.10 and a 12 month high of $42.66. The firm has a 50-day moving average of $4.21 and a two-hundred day moving average of $4.78.

New York Community Bancorp’s stock is going to reverse split on the morning of Wednesday, July 31st. The 1-3 reverse split was announced on Thursday, June 27th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, July 30th.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings data on Wednesday, May 1st. The financial services provider reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. The company had revenue of $633.00 million during the quarter, compared to the consensus estimate of $776.81 million. New York Community Bancorp had a net margin of 0.62% and a return on equity of 2.91%. New York Community Bancorp’s quarterly revenue was down 76.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.23 EPS. As a group, analysts forecast that New York Community Bancorp will post -1.4 earnings per share for the current fiscal year.

New York Community Bancorp Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, June 7th were issued a $0.01 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.04 annualized dividend and a yield of 0.36%. New York Community Bancorp’s dividend payout ratio (DPR) is presently 400.00%.

Institutional Trading of New York Community Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Diversified Trust Co purchased a new position in New York Community Bancorp in the 4th quarter valued at approximately $115,000. Nordea Investment Management AB purchased a new position in New York Community Bancorp in the 4th quarter valued at approximately $1,755,000. Insight Wealth Strategies LLC boosted its position in New York Community Bancorp by 5.0% in the 4th quarter. Insight Wealth Strategies LLC now owns 133,093 shares of the financial services provider’s stock valued at $1,362,000 after buying an additional 6,347 shares during the period. HB Wealth Management LLC boosted its position in New York Community Bancorp by 7.2% in the 4th quarter. HB Wealth Management LLC now owns 20,299 shares of the financial services provider’s stock valued at $208,000 after buying an additional 1,371 shares during the period. Finally, Sterneck Capital Management LLC purchased a new position in New York Community Bancorp in the 4th quarter valued at approximately $190,000. Institutional investors and hedge funds 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.