Analysts Set New York Community Bancorp, Inc. (NYSE:NYCB) Price Target at $17.48

New York Community Bancorp, Inc. (NYSE:NYCB) has been assigned a consensus recommendation of “Hold” from the fifteen brokerages that are currently covering the company, Marketbeat reports. Thirteen analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $17.48.

Several brokerages recently issued reports on NYCB. StockNews.com raised New York Community Bancorp to a “sell” rating in a report on Friday, July 19th. Citigroup lifted their price objective on New York Community Bancorp from $10.50 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods increased their target price on shares of New York Community Bancorp from $11.25 to $33.75 and gave the company a “market perform” rating in a research report on Monday, July 15th. Wedbush restated a “neutral” rating and issued a $31.50 price target on shares of New York Community Bancorp in a research report on Friday, July 26th. Finally, Barclays upgraded shares of New York Community Bancorp from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $10.00 to $14.00 in a research report on Thursday, September 26th.

New York Community Bancorp Stock Down 4.0 %

NYCB stock opened at $11.69 on Thursday. The company has a market cap of $3.20 billion, a PE ratio of 389.67 and a beta of 1.00. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 3.66. New York Community Bancorp has a 52 week low of $5.10 and a 52 week high of $34.47. The business has a 50-day simple moving average of $11.04 and a 200 day simple moving average of $12.15.

New York Community Bancorp (NYSE:NYCB) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported ($3.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.26) by ($1.89). The firm had revenue of $671.00 million for the quarter, compared to the consensus estimate of $722.47 million. New York Community Bancorp had a negative return on equity of 4.49% and a negative net margin of 10.78%. The company’s revenue was down 44.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.23 EPS. Sell-side analysts anticipate that New York Community Bancorp will post -2.41 EPS for the current fiscal year.

New York Community Bancorp Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Saturday, September 7th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend was Friday, September 6th. New York Community Bancorp’s dividend payout ratio (DPR) is currently 133.33%.

Institutional Investors Weigh In On New York Community Bancorp

Hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its holdings in shares of New York Community Bancorp by 353.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,830,195 shares of the financial services provider’s stock valued at $28,953,000 after buying an additional 2,206,140 shares during the last quarter. Quadrature Capital Ltd purchased a new position in New York Community Bancorp in the fourth quarter worth $1,099,000. HighPoint Advisor Group LLC bought a new position in shares of New York Community Bancorp during the 4th quarter valued at approximately $315,000. Moody National Bank Trust Division increased its position in New York Community Bancorp by 49.6% in the first quarter. Moody National Bank Trust Division now owns 32,481 shares of the financial services provider’s stock worth $105,000 after buying an additional 10,770 shares during the last quarter. Finally, Alaska Permanent Fund Corp raised its stake in New York Community Bancorp by 67.7% in the 1st quarter. Alaska Permanent Fund Corp now owns 362,300 shares of the financial services provider’s stock valued at $1,167,000 after acquiring an additional 146,290 shares during the period. Institutional investors and hedge funds 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.