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

StockNews.com upgraded shares of New York Community Bancorp (NYSE:NYCB) to a sell rating in a research note published on Monday.

Several other equities research analysts also recently issued reports on NYCB. Keefe, Bruyette & Woods downgraded New York Community Bancorp from an outperform rating to a market perform rating and lowered their price target for the stock from $14.00 to $12.00 in a report on Monday, December 18th. Piper Sandler restated a neutral rating and issued a $5.00 price target (down from $8.00) on shares of New York Community Bancorp in a report on Friday, March 1st. JPMorgan Chase & Co. downgraded New York Community Bancorp from an overweight rating to a neutral rating and lowered their price target for the stock from $11.50 to $5.50 in a report on Wednesday, February 7th. Wedbush lowered their price target on New York Community Bancorp from $3.50 to $3.00 and set an underperform rating for the company in a report on Thursday, March 7th. Finally, Raymond James downgraded New York Community Bancorp from a market perform rating to an underperform rating and set a $3.00 price objective for the company. in a report on Monday, March 18th. Three analysts have rated the stock with a sell rating and thirteen have given a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $5.43.

New York Community Bancorp Trading Up 1.7 %

NYSE NYCB opened at $2.97 on Monday. The stock has a 50-day simple moving average of $3.74 and a 200 day simple moving average of $7.65. The company has a market capitalization of $2.37 billion, a PE ratio of 0.89, a P/E/G ratio of 32.38 and a beta of 0.91. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 2.70. New York Community Bancorp has a 12 month low of $1.70 and a 12 month high of $14.22.

New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.56). New York Community Bancorp had a return on equity of 6.22% and a net margin of 28.96%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $935.90 million. During the same quarter last year, the company earned $0.25 earnings per share.

New York Community Bancorp Cuts Dividend

The business also recently declared 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 of this dividend was Tuesday, February 13th. This represents a $0.20 annualized dividend and a yield of 6.73%. New York Community Bancorp’s dividend payout ratio (DPR) is presently 6.01%.

Insider Activity at New York Community Bancorp

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

Institutional Trading of New York Community Bancorp

Hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC lifted its position in shares of New York Community Bancorp by 1,237.8% in the fourth quarter. International Assets Investment Management LLC now owns 484,124 shares of the financial services provider’s stock valued at $47,324,000 after buying an additional 447,937 shares during the last quarter. Nordea Investment Management AB bought a new position in shares of New York Community Bancorp during the fourth quarter worth approximately $1,755,000. AQR Capital Management LLC increased its stake in shares of New York Community Bancorp by 212.7% during the third quarter. AQR Capital Management LLC now owns 1,982,700 shares of the financial services provider’s stock worth $22,444,000 after purchasing an additional 1,348,601 shares during the period. Pacer Advisors Inc. increased its stake in shares of New York Community Bancorp by 79.2% during the fourth quarter. Pacer Advisors Inc. now owns 108,619 shares of the financial services provider’s stock worth $1,111,000 after purchasing an additional 47,996 shares during the period. Finally, State of Michigan Retirement System increased its stake in shares of New York Community Bancorp by 7.9% during the fourth quarter. State of Michigan Retirement System now owns 173,343 shares of the financial services provider’s stock worth $1,773,000 after purchasing an additional 12,700 shares during the period. 67.88% of the stock is owned by institutional investors and hedge funds.

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.