Zacks Investment Research upgraded shares of New York Community Bancorp, Inc. (NYSE:NYCB) from a strong sell rating to a hold rating in a report released on Wednesday.
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. “
NYCB has been the topic of several other reports. BidaskClub upgraded New York Community Bancorp from a strong sell rating to a sell rating in a research report on Tuesday, June 13th. ValuEngine upgraded New York Community Bancorp from a hold rating to a buy rating in a research report on Thursday, May 11th. Morgan Stanley reiterated an equal weight rating and set a $13.75 price objective (down from $14.00) on shares of New York Community Bancorp in a research report on Friday, July 7th. Finally, Piper Jaffray Companies set a $11.00 price objective on New York Community Bancorp and gave the company a sell rating in a research report on Thursday, August 17th. Three analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. New York Community Bancorp presently has an average rating of Hold and an average price target of $14.03.
Shares of New York Community Bancorp (NYSE NYCB) opened at 12.01 on Wednesday. The stock has a 50 day moving average of $12.70 and a 200-day moving average of $13.50. The firm has a market capitalization of $5.87 billion, a PE ratio of 13.07 and a beta of 0.58. New York Community Bancorp has a 52 week low of $11.83 and a 52 week high of $17.68.
New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. The firm had revenue of $338.21 million for the quarter, compared to analyst estimates of $326.36 million. New York Community Bancorp had a return on equity of 7.46% and a net margin of 25.67%. During the same period in the prior year, the company earned $0.26 EPS. Equities analysts anticipate that New York Community Bancorp will post $0.79 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Monday, August 7th were given a dividend of $0.17 per share. The ex-dividend date was Thursday, August 3rd. This represents a $0.68 annualized dividend and a yield of 5.66%. New York Community Bancorp’s payout ratio is 73.91%.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in New York Community Bancorp by 6,643.8% in the first quarter. BlackRock Inc. now owns 51,206,275 shares of the financial services provider’s stock valued at $715,351,000 after buying an additional 50,446,961 shares during the period. Alecta Pensionsforsakring Omsesidigt boosted its stake in New York Community Bancorp by 176.3% in the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 10,500,000 shares of the financial services provider’s stock valued at $137,865,000 after buying an additional 6,700,000 shares during the period. Vanguard Group Inc. boosted its stake in New York Community Bancorp by 4.6% in the first quarter. Vanguard Group Inc. now owns 39,860,379 shares of the financial services provider’s stock valued at $556,850,000 after buying an additional 1,759,241 shares during the period. Dimensional Fund Advisors LP boosted its stake in New York Community Bancorp by 40.0% in the second quarter. Dimensional Fund Advisors LP now owns 5,311,010 shares of the financial services provider’s stock valued at $69,738,000 after buying an additional 1,517,864 shares during the period. Finally, American Century Companies Inc. boosted its stake in New York Community Bancorp by 3,824.7% in the first quarter. American Century Companies Inc. now owns 1,308,768 shares of the financial services provider’s stock valued at $18,283,000 after buying an additional 1,275,421 shares during the period. Institutional investors and hedge funds own 57.50% of the company’s stock.
About New York Community Bancorp
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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