New York Community Bancorp, Inc. (NYSE:NYCB) Receives Consensus Rating of “Reduce” from Brokerages

New York Community Bancorp, Inc. (NYSE:NYCB) has been given a consensus recommendation of “Reduce” by the fifteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $5.43.

Several brokerages have commented on NYCB. Citigroup decreased their price objective on shares of New York Community Bancorp from $5.00 to $3.50 and set a “neutral” rating for the company in a research note on Thursday, March 7th. Barclays began coverage on shares of New York Community Bancorp in a research note on Friday, March 8th. They set an “equal weight” rating and a $4.00 price objective for the company. Bank of America cut shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $8.50 to $5.00 in a research note on Wednesday, February 7th. Wedbush decreased their price objective on shares of New York Community Bancorp from $3.50 to $3.00 and set an “underperform” rating for the company in a research note on Thursday, March 7th. Finally, Piper Sandler restated a “neutral” rating and set a $5.00 price objective (down from $8.00) on shares of New York Community Bancorp in a research note on Friday, March 1st.

New York Community Bancorp Stock Down 3.8 %

NYCB stock opened at $3.06 on Thursday. The firm has a 50 day moving average of $3.58 and a 200 day moving average of $7.37. The stock has a market capitalization of $2.44 billion, a PE ratio of 0.92 and a beta of 0.91. The company has a quick ratio of 1.17, a current ratio of 1.18 and a debt-to-equity ratio of 2.70. New York Community Bancorp has a 52 week low of $1.70 and a 52 week high of $14.22.

New York Community Bancorp (NYSE:NYCB) last released its earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) EPS 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 return on equity of 6.22% and a net margin of 28.96%. During the same quarter last year, the business earned $0.25 earnings per share. Sell-side analysts forecast that New York Community Bancorp will post -0.08 earnings per share for the current 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 issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 6.54%. The ex-dividend date of this dividend was Tuesday, February 13th. New York Community Bancorp’s payout ratio is presently 6.01%.

Insider Buying and Selling

In related news, Chairman Alessandro Dinello purchased 50,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was bought at an average price of $4.19 per share, with a total value of $209,500.00. Following the acquisition, the chairman now owns 114,305 shares in the company, valued at $478,937.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other New York Community Bancorp news, Director Marshall Lux bought 27,100 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was acquired at an average price of $3.69 per share, with a total value of $99,999.00. Following the completion of the acquisition, the director now directly owns 64,872 shares of the company’s stock, valued at $239,377.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Alessandro Dinello bought 50,000 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were acquired at an average cost of $4.19 per share, with a total value of $209,500.00. Following the acquisition, the chairman now directly owns 114,305 shares of the company’s stock, valued at $478,937.95. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 213,410 shares of company stock valued at $875,626. 1.62% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On New York Community Bancorp

A number of large investors have recently modified their holdings of NYCB. Orion Capital Management LLC purchased a new stake in shares of New York Community Bancorp in the third quarter valued at about $28,000. Loomis Sayles & Co. L P purchased a new stake in shares of New York Community Bancorp in the third quarter valued at about $29,000. Naples Money Management LLC purchased a new stake in shares of New York Community Bancorp in the fourth quarter valued at about $30,000. Authentikos Wealth Advisory LLC acquired a new stake in shares of New York Community Bancorp during the third quarter worth about $35,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of New York Community Bancorp during the fourth quarter worth about $40,000. 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.