New York Community Bancorp (NYSE:NYCB) Rating Increased to Sell at StockNews.com

StockNews.com upgraded shares of New York Community Bancorp (NYSE:NYCB) to a sell rating in a report released on Monday morning.

A number of other analysts have also weighed in on the stock. Keefe, Bruyette & Woods lowered shares of New York Community Bancorp from an outperform rating to a market perform rating and lowered their price target for the company from $14.00 to $12.00 in a report on Monday, December 18th. Deutsche Bank Aktiengesellschaft lowered shares of New York Community Bancorp from a buy rating to a hold rating and lowered their target price for the stock from $15.00 to $7.00 in a report on Friday, February 2nd. Royal Bank of Canada lowered their target price on shares of New York Community Bancorp from $5.00 to $4.00 and set a sector perform rating for the company in a report on Tuesday, April 9th. DA Davidson cut shares of New York Community Bancorp from a buy rating to a neutral rating and reduced their price target for the stock from $8.50 to $5.00 in a research report on Thursday, February 8th. Finally, Morgan Stanley reduced their price target on shares of New York Community Bancorp from $6.00 to $4.00 and set an equal weight rating on the stock in a research report on Thursday, March 7th. Three investment analysts have rated the stock with a sell rating and thirteen have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $5.43.

New York Community Bancorp Stock Performance

NYSE NYCB opened at $2.96 on Monday. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 0.89 and a beta of 0.91. The company has a 50 day moving average of $3.72 and a 200-day moving average of $7.61. 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 1-year low of $1.70 and a 1-year high of $14.22.

New York Community Bancorp (NYSE:NYCB) last issued its quarterly earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.56). The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $935.90 million. New York Community Bancorp had a net margin of 28.96% and a return on equity of 6.22%. During the same period in the prior year, the business earned $0.25 EPS. On average, equities analysts forecast that New York Community Bancorp will post -0.08 earnings per share for the current fiscal year.

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 paid a $0.05 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $0.20 dividend on an annualized basis and a yield of 6.77%. New York Community Bancorp’s dividend payout ratio (DPR) is currently 6.01%.

Insider Activity at New York Community Bancorp

In related news, Director Peter Schoels purchased 100,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average price of $4.15 per share, for a total transaction of $415,000.00. Following the purchase, the director now owns 147,438 shares in the company, valued at $611,867.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other New York Community Bancorp news, Director Peter Schoels acquired 100,000 shares of the business’s stock in a transaction on Friday, February 9th. The stock was purchased at an average price of $4.15 per share, with a total value of $415,000.00. Following the acquisition, the director now directly owns 147,438 shares of the company’s stock, valued at approximately $611,867.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas R. Cangemi acquired 11,310 shares of the business’s stock in a transaction on Friday, February 9th. The stock was acquired at an average cost of $4.41 per share, with a total value of $49,877.10. Following the acquisition, the chief executive officer now directly owns 69,704 shares in the company, valued at $307,394.64. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 213,410 shares of company stock worth $875,626. Insiders own 1.62% of the company’s stock.

Institutional Trading of New York Community Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC lifted its holdings in shares of New York Community Bancorp by 1,237.8% during the 4th quarter. International Assets Investment Management LLC now owns 484,124 shares of the financial services provider’s stock worth $47,324,000 after acquiring an additional 447,937 shares during the period. Nordea Investment Management AB bought a new position in New York Community Bancorp in the 4th quarter valued at approximately $1,755,000. AQR Capital Management LLC lifted its stake 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 valued at $22,444,000 after purchasing an additional 1,348,601 shares during the last quarter. Pacer Advisors Inc. lifted its stake in New York Community Bancorp by 79.2% in the 4th quarter. Pacer Advisors Inc. now owns 108,619 shares of the financial services provider’s stock valued at $1,111,000 after purchasing an additional 47,996 shares during the last quarter. Finally, State of Michigan Retirement System lifted its stake in New York Community Bancorp by 7.9% in 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 purchasing an additional 12,700 shares during the last quarter. 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.