New York Community Bancorp (NYSE:NYCB) Stock Rating Upgraded by Wedbush

Wedbush upgraded shares of New York Community Bancorp (NYSE:NYCB) from an underperform rating to a neutral rating in a report issued on Wednesday morning, Marketbeat.com reports. The brokerage currently has $3.50 price target on the financial services provider’s stock, up from their previous price target of $3.00. Wedbush also issued estimates for New York Community Bancorp’s Q1 2025 earnings at $0.04 EPS.

A number of other brokerages have also recently issued reports on NYCB. Deutsche Bank Aktiengesellschaft cut New York Community Bancorp from a buy rating to a hold rating and decreased their target price for the stock from $15.00 to $7.00 in a report on Friday, February 2nd. StockNews.com raised New York Community Bancorp to a sell rating in a research report on Monday, April 29th. JPMorgan Chase & Co. cut shares of New York Community Bancorp from an overweight rating to a neutral rating and reduced their target price for the stock from $11.50 to $5.50 in a research report on Wednesday, February 7th. DA Davidson downgraded New York Community Bancorp from a buy rating to a neutral rating and lowered their target price for the company from $8.50 to $5.00 in a research note on Thursday, February 8th. Finally, Citigroup reduced their price target on New York Community Bancorp from $5.00 to $3.50 and set a neutral rating for the company in a report on Thursday, March 7th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $5.39.

New York Community Bancorp Trading Up 4.7 %

Shares of NYCB stock opened at $3.53 on Wednesday. New York Community Bancorp has a twelve month low of $1.70 and a twelve month high of $14.22. The firm has a 50-day moving average price of $3.36 and a 200 day moving average price of $6.99. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 353.00 and a beta of 0.95. 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 (NYSE:NYCB) last posted its quarterly earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.01. The company had revenue of $633.00 million during the quarter, compared to analysts’ expectations of $776.81 million. New York Community Bancorp had a return on equity of 2.78% and a net margin of 0.62%. The firm’s revenue was down 76.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 EPS. Research analysts forecast that New York Community Bancorp will post -0.11 earnings per share for the current fiscal year.

New York Community Bancorp Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, June 7th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Thursday, June 6th. New York Community Bancorp’s dividend payout ratio (DPR) is presently 2,000.00%.

Insider Activity at New York Community Bancorp

In other news, CEO Thomas R. Cangemi purchased 11,310 shares of New York Community Bancorp stock in a transaction dated Friday, February 9th. The stock was bought at an average price of $4.41 per share, with a total value of $49,877.10. Following the completion of the acquisition, the chief executive officer now owns 69,704 shares in the company, valued at approximately $307,394.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Peter Schoels purchased 100,000 shares of the firm’s stock in a transaction 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 purchase, the director now owns 147,438 shares in the company, valued at approximately $611,867.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas R. Cangemi acquired 11,310 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was purchased at an average cost of $4.41 per share, for a total transaction of $49,877.10. Following the purchase, the chief executive officer now directly owns 69,704 shares in the company, valued at approximately $307,394.64. The disclosure for this purchase can be found here. Insiders acquired a total of 213,410 shares of company stock valued at $875,626 in the last quarter. Insiders own 1.62% of the company’s stock.

Hedge Funds Weigh In On New York Community Bancorp

Several hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC boosted its holdings 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 worth $47,324,000 after buying an additional 447,937 shares during the period. Nordea Investment Management AB purchased a new position in New York Community Bancorp in the fourth quarter valued at about $1,755,000. AQR Capital Management LLC increased its position in New York Community Bancorp by 212.7% in the 3rd 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 last quarter. Pacer Advisors Inc. raised its stake in shares of New York Community Bancorp by 79.2% during the 4th 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 in the last quarter. Finally, State of Michigan Retirement System lifted its holdings in shares of New York Community Bancorp by 7.9% during the 4th quarter. State of Michigan Retirement System now owns 173,343 shares of the financial services provider’s stock valued at $1,773,000 after buying an additional 12,700 shares during the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

New York Community Bancorp Company Profile

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.