Zacks Investment Research upgraded shares of New York Community Bancorp (NYSE:NYCB) from a hold rating to a buy rating in a report published on Thursday. Zacks Investment Research currently has $16.00 price target on the financial services provider’s stock.
According to Zacks, “New York Community Bancorp, Inc. is a leading producer of multi-family loans in New York City, with an emphasis on apartment buildings that feature below-market rents. The Company has two bank subsidiaries: New York Community Bank, with 178 branches serving customers throughout Metro New York and New Jersey; and New York Commercial Bank, with 36 branches serving customers in Manhattan, Queens, Brooklyn, Long Island, and Westchester County in New York. Reflecting its growth through a series of acquisitions, the Community Bank operates through five local divisions: Queens County Savings Bank in Queens, Roslyn Savings Bank on Long Island, Richmond County Savings Bank on Staten Island, Roosevelt Savings Bank in Brooklyn, and Garden State Community Bank in New Jersey. Similarly, the Commercial Bank operates 17 of its branches under the name Atlantic Bank. “
Several other brokerages also recently weighed in on NYCB. Bank of America raised New York Community Bancorp from a neutral rating to a buy rating in a research report on Wednesday, January 10th. FBR & Co restated a sell rating on shares of New York Community Bancorp in a research report on Wednesday, October 25th. BidaskClub upgraded New York Community Bancorp from a sell rating to a hold rating in a research report on Wednesday, November 15th. Keefe, Bruyette & Woods restated a hold rating and set a $14.00 target price on shares of New York Community Bancorp in a research report on Friday, December 22nd. Finally, Morgan Stanley raised their target price on New York Community Bancorp from $14.00 to $14.75 and gave the company an equal weight rating in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. New York Community Bancorp has a consensus rating of Hold and an average price target of $13.34.
Shares of New York Community Bancorp (NYSE NYCB) traded up $0.02 on Thursday, reaching $13.93. The company’s stock had a trading volume of 529,483 shares, compared to its average volume of 4,658,774. The firm has a market cap of $6,897.48, a P/E ratio of 15.52, a P/E/G ratio of 1.65 and a beta of 0.65. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.40 and a quick ratio of 1.40. New York Community Bancorp has a 12 month low of $11.67 and a 12 month high of $15.59.
New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. The company had revenue of $296.32 million for the quarter, compared to the consensus estimate of $300.29 million. New York Community Bancorp had a return on equity of 6.81% and a net margin of 25.91%. analysts predict that New York Community Bancorp will post 0.86 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date is Monday, February 12th. New York Community Bancorp’s dividend payout ratio (DPR) is presently 75.56%.
Large investors have recently bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in New York Community Bancorp by 33.8% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 27,831,006 shares of the financial services provider’s stock valued at $358,742,000 after buying an additional 7,036,258 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in New York Community Bancorp by 364.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 5,127,649 shares of the financial services provider’s stock valued at $66,095,000 after buying an additional 4,023,388 shares in the last quarter. Mondrian Investment Partners LTD purchased a new position in New York Community Bancorp in the 4th quarter valued at about $47,004,000. Mackenzie Financial Corp purchased a new position in New York Community Bancorp in the 4th quarter valued at about $13,176,000. Finally, Alecta Pensionsforsakring Omsesidigt lifted its stake in New York Community Bancorp by 8.6% in the 3rd quarter. Alecta Pensionsforsakring Omsesidigt now owns 11,400,000 shares of the financial services provider’s stock valued at $146,946,000 after buying an additional 900,000 shares in the last quarter. Hedge funds and other institutional investors own 59.01% of the company’s stock.
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New York Community Bancorp Company Profile
New York Community Bancorp, Inc is a multi-bank holding company. The Company operates through its subsidiaries, New York Community Bank (the Community Bank) and New York Commercial Bank (the Commercial Bank) (collectively, the Banks). The Company’s operations are divided into two segments: Banking Operations and Residential Mortgage Banking.
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