New York Community Bancorp (NYSE:NYCB) Rating Increased to Sell at StockNews.com

StockNews.com upgraded shares of New York Community Bancorp (NYSE:NYCB) to a sell rating in a report released on Monday morning.

NYCB has been the subject of several other reports. Morgan Stanley reduced their price objective on New York Community Bancorp from $6.00 to $4.00 and set an equal weight rating for the company in a research note on Thursday, March 7th. Keefe, Bruyette & Woods downgraded New York Community Bancorp from an outperform rating to a market perform rating and reduced their price objective for the company from $14.00 to $12.00 in a research note on Monday, December 18th. DA Davidson downgraded New York Community Bancorp from a buy rating to a neutral rating and cut their target price for the stock from $8.50 to $5.00 in a research note on Thursday, February 8th. Piper Sandler reaffirmed a neutral rating and issued a $5.00 target price (down from $8.00) on shares of New York Community Bancorp in a research note on Friday, March 1st. Finally, Raymond James downgraded New York Community Bancorp from a market perform rating to an underperform rating and set a $3.00 target price for the company. in a research note on Monday, March 18th. Three investment analysts have rated the stock with a sell rating and thirteen have given a hold rating to the stock. According to data from MarketBeat, New York Community Bancorp has a consensus rating of Hold and a consensus price target of $5.43.

New York Community Bancorp Trading Down 0.5 %

Shares of NYSE:NYCB opened at $2.96 on Monday. New York Community Bancorp has a 1 year low of $1.70 and a 1 year high of $14.22. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 0.89 and a beta of 0.91. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.18 and a quick ratio of 1.17. The business’s 50 day moving average price is $3.72 and its 200-day moving average price is $7.61.

New York Community Bancorp (NYSE:NYCB) last announced its earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.56). New York Community Bancorp had a net margin of 28.96% and a return on equity of 6.22%. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $935.90 million. During the same quarter last year, the business earned $0.25 EPS. On average, equities research analysts forecast that New York Community Bancorp will post -0.08 earnings per share for the current fiscal year.

New York Community Bancorp Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 6.77%. The ex-dividend date was Tuesday, February 13th. New York Community Bancorp’s dividend payout ratio (DPR) is 6.01%.

Insider Activity

In related news, CEO Thomas R. Cangemi acquired 11,310 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was acquired at an average price of $4.41 per share, for a total transaction of $49,877.10. Following the purchase, the chief executive officer now owns 69,704 shares of the company’s stock, valued at approximately $307,394.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other New York Community Bancorp news, CEO Thomas R. Cangemi bought 11,310 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were acquired at an average price of $4.41 per share, with a total value of $49,877.10. Following the transaction, the chief executive officer now owns 69,704 shares of the company’s stock, valued at $307,394.64. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Alessandro Dinello bought 50,000 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were acquired at an average cost of $4.19 per share, for a total transaction of $209,500.00. Following the transaction, the chairman now directly owns 114,305 shares in the company, valued at approximately $478,937.95. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 213,410 shares of company stock worth $875,626. 1.62% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NYCB. Wellington Management Group LLP increased its holdings in shares of New York Community Bancorp by 7.5% in the third quarter. Wellington Management Group LLP now owns 67,668,954 shares of the financial services provider’s stock valued at $767,366,000 after purchasing an additional 4,723,876 shares during the period. Vanguard Group Inc. boosted its stake in shares of New York Community Bancorp by 1.0% in the third quarter. Vanguard Group Inc. now owns 44,302,719 shares of the financial services provider’s stock valued at $377,902,000 after buying an additional 444,458 shares in the last quarter. State Street Corp boosted its stake in shares of New York Community Bancorp by 61.4% in the first quarter. State Street Corp now owns 35,348,227 shares of the financial services provider’s stock valued at $319,548,000 after buying an additional 13,450,558 shares in the last quarter. Geode Capital Management LLC boosted its position in New York Community Bancorp by 3.6% during the first quarter. Geode Capital Management LLC now owns 9,577,580 shares of the financial services provider’s stock worth $86,581,000 after purchasing an additional 336,233 shares in the last quarter. Finally, Brandywine Global Investment Management LLC boosted its position in New York Community Bancorp by 30.0% during the first quarter. Brandywine Global Investment Management LLC now owns 7,932,246 shares of the financial services provider’s stock worth $71,708,000 after purchasing an additional 1,829,923 shares in the last quarter. Institutional investors and hedge funds 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.