New York Community Bancorp (NYSE:NYCB) Earns Sell Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of New York Community Bancorp (NYSE:NYCB) in a report published on Thursday. The firm issued a sell rating on the financial services provider’s stock.

Several other research analysts have also recently issued reports on the stock. Wedbush restated a “neutral” rating and issued a $31.50 target price on shares of New York Community Bancorp in a report on Friday, July 26th. Barclays raised New York Community Bancorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $10.00 to $14.00 in a report on Thursday, September 26th. Raymond James raised New York Community Bancorp from an “underperform” rating to a “market perform” rating in a report on Tuesday, September 17th. Finally, JPMorgan Chase & Co. upped their target price on New York Community Bancorp from $11.50 to $12.50 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $17.48.

New York Community Bancorp Stock Performance

The stock has a market cap of $4.38 billion, a PE ratio of -2.42 and a beta of 1.00. The stock’s 50-day moving average price is $11.07 and its two-hundred day moving average price is $12.22. The company has a current ratio of 1.14, a quick ratio of 1.11 and a debt-to-equity ratio of 2.52. New York Community Bancorp has a 1 year low of $5.10 and a 1 year high of $34.47.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings data on Friday, October 25th. The financial services provider reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.29). The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $621.72 million. New York Community Bancorp had a negative return on equity of 11.35% and a negative net margin of 18.40%. During the same period in the prior year, the company posted $1.08 earnings per share. As a group, sell-side analysts forecast that New York Community Bancorp will post -3 earnings per share for the current fiscal year.

New York Community Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Saturday, December 7th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of ∞. New York Community Bancorp’s dividend payout ratio is currently -0.92%.

Institutional Investors Weigh In On New York Community Bancorp

A number of institutional investors have recently added to or reduced their stakes in NYCB. Algert Global LLC boosted its stake in shares of New York Community Bancorp by 144.5% in the second quarter. Algert Global LLC now owns 461,902 shares of the financial services provider’s stock valued at $1,487,000 after buying an additional 273,002 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of New York Community Bancorp during the 2nd quarter worth $575,000. Point72 Asset Management L.P. grew its stake in shares of New York Community Bancorp by 279.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 740,521 shares of the financial services provider’s stock worth $2,384,000 after purchasing an additional 545,321 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of New York Community Bancorp by 49.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 949,821 shares of the financial services provider’s stock worth $3,058,000 after purchasing an additional 315,960 shares during the period. Finally, Alaska Permanent Fund Corp acquired a new stake in shares of New York Community Bancorp in the third quarter valued at about $1,018,000. Hedge funds and other institutional investors 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.