New York Community Bancorp (NYSE:NYCB) Upgraded to Overweight by Barclays

Barclays upgraded shares of New York Community Bancorp (NYSE:NYCB) from an equal weight rating to an overweight rating in a report published on Thursday morning, Marketbeat.com reports. Barclays currently has $14.00 price objective on the financial services provider’s stock, up from their previous price objective of $10.00.

A number of other analysts have also issued reports on NYCB. Raymond James raised New York Community Bancorp from an underperform rating to a market perform rating in a research report on Tuesday, September 17th. Wedbush restated a neutral rating and set a $31.50 target price on shares of New York Community Bancorp in a report on Friday, July 26th. Citigroup boosted their price target on shares of New York Community Bancorp from $3.50 to $4.00 and gave the stock a neutral rating in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods raised their price objective on shares of New York Community Bancorp from $11.25 to $33.75 and gave the company a market perform rating in a research note on Monday, July 15th. Finally, StockNews.com upgraded shares of New York Community Bancorp to a sell rating in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $9.70.

New York Community Bancorp Price Performance

NYCB stock opened at $11.46 on Thursday. New York Community Bancorp has a 52-week low of $5.10 and a 52-week high of $34.50. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 3.66. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 382.00 and a beta of 1.00. The business has a fifty day moving average of $13.30 and a two-hundred day moving average of $7.87.

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 (EPS) for the quarter, missing the consensus estimate of ($1.26) by ($1.89). New York Community Bancorp had a negative net margin of 10.78% and a negative return on equity of 4.49%. The company had revenue of $671.00 million during the quarter, compared to analysts’ expectations of $722.47 million. During the same quarter last year, the firm posted $4.23 earnings per share. The firm’s quarterly revenue was down 44.2% on a year-over-year basis. As a group, research analysts anticipate that New York Community Bancorp will post -2.43 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 Tuesday, September 17th. Investors of record on Saturday, September 7th were given a $0.01 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.04 dividend on an annualized basis and a yield of 0.35%. New York Community Bancorp’s dividend payout ratio (DPR) is presently 133.33%.

Institutional Trading of New York Community Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Moody National Bank Trust Division lifted its stake 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 valued at $105,000 after buying an additional 10,770 shares during the last quarter. Virtu Financial LLC boosted its stake in New York Community Bancorp by 24.6% during the 4th quarter. Virtu Financial LLC now owns 70,945 shares of the financial services provider’s stock worth $726,000 after purchasing an additional 14,011 shares during the period. Stifel Financial Corp grew its position in New York Community Bancorp by 6.8% during the 4th quarter. Stifel Financial Corp now owns 2,051,809 shares of the financial services provider’s stock worth $20,990,000 after purchasing an additional 129,889 shares during the last quarter. Orion Portfolio Solutions LLC increased its stake in New York Community Bancorp by 9.0% in the fourth quarter. Orion Portfolio Solutions LLC now owns 227,141 shares of the financial services provider’s stock valued at $2,405,000 after purchasing an additional 18,682 shares during the period. Finally, Hilltop Holdings Inc. purchased a new stake in shares of New York Community Bancorp in the fourth quarter valued at about $243,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

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.