BidaskClub Lowers New York Community Bancorp, Inc. (NYCB) to Sell

BidaskClub cut shares of New York Community Bancorp, Inc. (NYSE:NYCB) from a hold rating to a sell rating in a report published on Thursday morning.

A number of other analysts have also recently issued reports on NYCB. FBR & Co reissued a sell rating on shares of New York Community Bancorp in a research note on Wednesday. Piper Jaffray Companies reissued a sell rating and issued a $11.00 price objective on shares of New York Community Bancorp in a research note on Tuesday, October 24th. Zacks Investment Research lowered shares of New York Community Bancorp from a hold rating to a sell rating in a research report on Wednesday, September 27th. Morgan Stanley restated an equal weight rating and set a $13.75 target price (down previously from $14.00) on shares of New York Community Bancorp in a research report on Friday, July 7th. Finally, Barclays PLC dropped their target price on shares of New York Community Bancorp from $14.00 to $12.00 and set an equal weight rating for the company in a research report on Wednesday, October 11th. Four research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The stock presently has a consensus rating of Hold and an average price target of $12.45.

Shares of New York Community Bancorp (NYCB) traded up 1.02% on Thursday, reaching $12.85. 3,797,396 shares of the company’s stock traded hands. The firm’s 50-day moving average is $12.65 and its 200-day moving average is $12.86. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 14.77 and a beta of 0.58. New York Community Bancorp has a 52-week low of $11.67 and a 52-week high of $17.68.

New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.04. The firm had revenue of $385.27 million during the quarter, compared to analysts’ expectations of $313.64 million. New York Community Bancorp had a net margin of 24.22% and a return on equity of 7.17%. During the same period in the prior year, the company posted $0.26 earnings per share. Analysts anticipate that New York Community Bancorp will post $0.75 EPS for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 21st. Investors of record on Tuesday, November 7th will be given a dividend of $0.17 per share. The ex-dividend date is Monday, November 6th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.29%. New York Community Bancorp’s dividend payout ratio is 78.16%.

Several large investors have recently modified their holdings of the stock. World Asset Management Inc boosted its position in shares of New York Community Bancorp by 0.7% during the second quarter. World Asset Management Inc now owns 33,448 shares of the financial services provider’s stock worth $439,000 after acquiring an additional 246 shares during the last quarter. Private Asset Management Inc. boosted its position in shares of New York Community Bancorp by 0.7% during the second quarter. Private Asset Management Inc. now owns 46,425 shares of the financial services provider’s stock worth $610,000 after acquiring an additional 300 shares during the last quarter. New England Research & Management Inc. boosted its position in shares of New York Community Bancorp by 1.5% during the second quarter. New England Research & Management Inc. now owns 23,600 shares of the financial services provider’s stock worth $310,000 after acquiring an additional 350 shares during the last quarter. Utah Retirement Systems boosted its position in shares of New York Community Bancorp by 0.5% during the second quarter. Utah Retirement Systems now owns 86,959 shares of the financial services provider’s stock worth $1,142,000 after acquiring an additional 400 shares during the last quarter. Finally, Honkamp Krueger Financial Services Inc. boosted its position in shares of New York Community Bancorp by 3.9% during the second quarter. Honkamp Krueger Financial Services Inc. now owns 13,485 shares of the financial services provider’s stock worth $177,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 57.47% of the company’s stock.

About New York Community Bancorp

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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