New York Community Bancorp (NYSE:NYCB) Downgraded by Wedbush to Underperform

Wedbush cut shares of New York Community Bancorp (NYSE:NYCB) from a neutral rating to an underperform rating in a research report report published on Tuesday, MarketBeat Ratings reports. The firm currently has $8.00 target price on the financial services provider’s stock, down from their previous target price of $12.00.

NYCB has been the topic of a number of other research reports. Morgan Stanley reduced their price target on New York Community Bancorp from $13.00 to $12.00 and set an equal weight rating on the stock in a research note on Friday, October 27th. Deutsche Bank Aktiengesellschaft upgraded shares of New York Community Bancorp from a hold rating to a buy rating and increased their price objective for the stock from $10.00 to $16.00 in a report on Monday, July 31st. StockNews.com initiated coverage on shares of New York Community Bancorp in a research report on Thursday, October 5th. They set a hold rating for the company. Royal Bank of Canada cut their price target on shares of New York Community Bancorp from $16.00 to $14.00 in a research note on Tuesday, October 10th. Finally, JPMorgan Chase & Co. raised New York Community Bancorp from a neutral rating to an overweight rating and increased their target price for the stock from $13.00 to $16.00 in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $12.10.

New York Community Bancorp Stock Up 2.4 %

Shares of NYSE:NYCB opened at $9.29 on Tuesday. The company has a market capitalization of $6.71 billion, a P/E ratio of 2.32, a P/E/G ratio of 0.56 and a beta of 1.15. The stock’s fifty day simple moving average is $10.54 and its 200-day simple moving average is $11.13. New York Community Bancorp has a 52-week low of $5.81 and a 52-week high of $14.22. The company has a quick ratio of 1.09, a current ratio of 1.12 and a debt-to-equity ratio of 1.39.

New York Community Bancorp (NYSE:NYCB) last released its earnings results on Thursday, October 26th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $931.90 million. New York Community Bancorp had a net margin of 37.39% and a return on equity of 9.49%. During the same period in the prior year, the firm earned $0.31 EPS. As a group, equities research analysts forecast that New York Community Bancorp will post 1.68 earnings per share for the current fiscal year.

New York Community Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 6th were issued a $0.17 dividend. The ex-dividend date was Friday, November 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 7.32%. New York Community Bancorp’s dividend payout ratio is currently 17.04%.

Insider Activity

In other news, EVP Reginald E. Davis sold 11,000 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $9.84, for a total transaction of $108,240.00. Following the completion of the transaction, the executive vice president now directly owns 70,416 shares in the company, valued at approximately $692,893.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.62% of the company’s stock.

Institutional Investors Weigh In On New York Community Bancorp

A number of institutional investors have recently modified their holdings of NYCB. Point72 Hong Kong Ltd acquired a new stake in New York Community Bancorp during the second quarter valued at approximately $27,000. Orion Capital Management LLC acquired a new stake in shares of New York Community Bancorp during the 3rd quarter valued at approximately $28,000. Loomis Sayles & Co. L P bought a new position in New York Community Bancorp during the third quarter worth $29,000. Lazard Asset Management LLC acquired a new position in New York Community Bancorp in the fourth quarter worth $29,000. Finally, Authentikos Wealth Advisory LLC bought a new stake in New York Community Bancorp during the third quarter valued at $35,000. Institutional investors and hedge funds own 67.52% 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.