Raymond James Upgrades New York Community Bancorp (NYSE:NYCB) to Market Perform

Raymond James upgraded shares of New York Community Bancorp (NYSE:NYCB) from an underperform rating to a market perform rating in a research report report published on Tuesday morning, Marketbeat reports.

A number of other brokerages have also issued reports on NYCB. Wedbush restated a neutral rating and set a $31.50 target price on shares of New York Community Bancorp in a research report on Friday, July 26th. Citigroup lifted their price objective on shares of New York Community Bancorp from $10.50 to $12.00 and gave the company a neutral rating in a research note on Wednesday, July 3rd. Barclays increased their target price on shares of New York Community Bancorp from $12.00 to $30.00 and gave the stock an equal weight rating in a research note on Monday, July 29th. StockNews.com upgraded New York Community Bancorp to a sell rating in a research report on Friday, July 19th. Finally, Keefe, Bruyette & Woods increased their price objective on New York Community Bancorp from $11.25 to $33.75 and gave the stock a market perform rating in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $18.91.

New York Community Bancorp Price Performance

Shares of NYCB opened at $11.45 on Tuesday. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.27 and a quick ratio of 1.17. New York Community Bancorp has a 1-year low of $5.10 and a 1-year high of $34.92. The stock has a market cap of $4.27 billion, a PE ratio of 381.67 and a beta of 1.00. The firm has a fifty day moving average price of $15.45 and a 200 day moving average price of $11.97.

New York Community Bancorp (NYSE:NYCB) last posted its earnings results on Thursday, July 25th. The financial services provider reported ($3.15) earnings per share for the quarter, missing the consensus estimate of ($1.26) by ($1.89). The firm had revenue of $671.00 million during the quarter, compared to analysts’ expectations of $722.47 million. New York Community Bancorp had a negative net margin of 10.78% and a negative return on equity of 4.49%. The firm’s revenue for the quarter was down 44.2% on a year-over-year basis. During the same period in the previous year, the firm posted $4.23 earnings per share. As a group, sell-side analysts anticipate that New York Community Bancorp will post -2.43 EPS for the current year.

New York Community Bancorp Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Saturday, September 7th were given a dividend of $0.01 per share. The ex-dividend date was Friday, September 6th. This represents a $0.04 dividend on an annualized basis and a yield of 0.35%. New York Community Bancorp’s dividend payout ratio (DPR) is currently 133.33%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NYCB. International Assets Investment Management LLC boosted its position in shares of New York Community Bancorp by 30.8% in the fourth quarter. International Assets Investment Management LLC now owns 47,324 shares of the financial services provider’s stock worth $484,000 after acquiring an additional 11,137 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of New York Community Bancorp by 159.0% in the 4th quarter. BNP Paribas Financial Markets now owns 471,822 shares of the financial services provider’s stock valued at $4,827,000 after purchasing an additional 289,686 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of New York Community Bancorp during the 4th quarter worth about $173,000. Avantax Advisory Services Inc. grew its holdings in shares of New York Community Bancorp by 6.6% during the 4th quarter. Avantax Advisory Services Inc. now owns 38,145 shares of the financial services provider’s stock worth $390,000 after purchasing an additional 2,366 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in New York Community Bancorp by 24.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 44,726 shares of the financial services provider’s stock worth $458,000 after purchasing an additional 8,817 shares in the last quarter. Hedge funds and other institutional investors 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.