New York Community Bancorp, Inc. (NYCB) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of New York Community Bancorp, Inc. (NYSE:NYCB) from a sell rating to a hold rating in a report published on Tuesday, August 1st.

According to Zacks, “New York Community Bancorp, Inc. is a leading producer of multi-family loans in New York City, with an emphasis on apartment buildings that feature below-market rents. The Company has two bank subsidiaries: New York Community Bank, with 178 branches serving customers throughout Metro New York and New Jersey; and New York Commercial Bank, with 36 branches serving customers in Manhattan, Queens, Brooklyn, Long Island, and Westchester County in New York. Reflecting its growth through a series of acquisitions, the Community Bank operates through five local divisions: Queens County Savings Bank in Queens, Roslyn Savings Bank on Long Island, Richmond County Savings Bank on Staten Island, Roosevelt Savings Bank in Brooklyn, and Garden State Community Bank in New Jersey. Similarly, the Commercial Bank operates 17 of its branches under the name Atlantic Bank. “

A number of other research analysts also recently issued reports on NYCB. Stephens initiated coverage on shares of New York Community Bancorp in a research report on Wednesday, April 5th. They set an equal weight rating for the company. Keefe, Bruyette & Woods set a $15.00 target price on shares of New York Community Bancorp and gave the company a hold rating in a research report on Tuesday, April 4th. FBR & Co decreased their target price on shares of New York Community Bancorp from $14.00 to $13.00 and set an underperform rating for the company in a research report on Friday, April 7th. ValuEngine upgraded shares of New York Community Bancorp from a hold rating to a buy rating in a research report on Thursday, May 11th. Finally, Morgan Stanley upped their price objective on shares of New York Community Bancorp from $13.50 to $14.00 and gave the stock an equal weight rating in a research report on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the company. The stock currently has a consensus rating of Hold and an average target price of $14.46.

Shares of New York Community Bancorp (NYCB) opened at 12.31 on Tuesday. New York Community Bancorp has a 1-year low of $12.30 and a 1-year high of $17.68. The stock has a market capitalization of $6.02 billion, a price-to-earnings ratio of 13.41 and a beta of 0.58. The stock has a 50 day moving average price of $12.97 and a 200 day moving average price of $13.74.

New York Community Bancorp (NYSE:NYCB) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. The company had revenue of $338.21 million during the quarter, compared to the consensus estimate of $326.36 million. New York Community Bancorp had a net margin of 25.67% and a return on equity of 7.46%. During the same period in the previous year, the firm posted $0.26 earnings per share. Equities research analysts anticipate that New York Community Bancorp will post $0.83 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, August 7th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.68 annualized dividend and a yield of 5.52%. New York Community Bancorp’s dividend payout ratio is presently 73.91%.

A number of hedge funds have recently made changes to their positions in NYCB. IFP Advisors Inc boosted its stake in shares of New York Community Bancorp by 0.4% in the first quarter. IFP Advisors Inc now owns 36,799 shares of the financial services provider’s stock valued at $514,000 after buying an additional 157 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of New York Community Bancorp by 0.3% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 84,178 shares of the financial services provider’s stock valued at $1,176,000 after buying an additional 239 shares in the last quarter. World Asset Management Inc boosted its stake in shares of New York Community Bancorp by 0.7% in the second quarter. World Asset Management Inc now owns 33,448 shares of the financial services provider’s stock valued at $439,000 after buying an additional 246 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of New York Community Bancorp by 3.1% in the first quarter. Pacer Advisors Inc. now owns 9,389 shares of the financial services provider’s stock valued at $131,000 after buying an additional 284 shares in the last quarter. Finally, Private Asset Management Inc. boosted its stake in shares of New York Community Bancorp by 0.7% in the second quarter. Private Asset Management Inc. now owns 46,425 shares of the financial services provider’s stock valued at $610,000 after buying an additional 300 shares in the last quarter. 58.67% of the stock is owned by institutional investors.

New York Community Bancorp Company Profile

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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Analyst Recommendations for New York Community Bancorp (NYSE:NYCB)

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