New York Community Bancorp (NYSE:NYCB) PT Lowered to $3.50

New York Community Bancorp (NYSE:NYCBFree Report) had its target price cut by Wedbush from $5.00 to $3.50 in a research report released on Friday, Benzinga reports. They currently have an underperform rating on the financial services provider’s stock.

NYCB has been the topic of a number of other reports. Royal Bank of Canada lowered shares of New York Community Bancorp from an outperform rating to a sector perform rating and lowered their target price for the stock from $13.00 to $7.00 in a research report on Thursday, February 1st. UBS Group downgraded New York Community Bancorp from a buy rating to a neutral rating in a report on Monday, January 8th. Citigroup reduced their target price on New York Community Bancorp from $12.00 to $11.00 and set a neutral rating for the company in a report on Thursday, December 14th. TheStreet downgraded New York Community Bancorp from a b- rating to a c+ rating in a report on Monday, February 5th. Finally, Bank of America downgraded New York Community Bancorp from a buy rating to a neutral rating and reduced their target price for the company from $8.50 to $5.00 in a report on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. According to MarketBeat.com, New York Community Bancorp presently has an average rating of Hold and a consensus target price of $7.90.

Get Our Latest Stock Report on New York Community Bancorp

New York Community Bancorp Stock Down 23.7 %

Shares of NYSE:NYCB opened at $2.71 on Friday. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.18 and a quick ratio of 1.17. The firm has a market capitalization of $1.96 billion, a PE ratio of 0.81, a price-to-earnings-growth ratio of 0.50 and a beta of 0.95. The firm’s 50-day moving average is $7.59 and its two-hundred day moving average is $9.52. New York Community Bancorp has a 1 year low of $2.70 and a 1 year high of $14.22.

New York Community Bancorp (NYSE:NYCBGet Free Report) last issued its earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.56). New York Community Bancorp had a net margin of 28.96% and a return on equity of 5.85%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $935.90 million. During the same period last year, the business earned $0.25 EPS. Analysts predict that New York Community Bancorp will post 0.71 EPS for the current year.

New York Community Bancorp Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, February 13th. This represents a $0.20 dividend on an annualized basis and a yield of 7.38%. New York Community Bancorp’s payout ratio is currently 6.01%.

Insider Transactions at New York Community Bancorp

In other New York Community Bancorp news, Director Peter Schoels purchased 100,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was bought at an average price of $4.15 per share, with a total value of $415,000.00. Following the completion of the purchase, the director now owns 147,438 shares in the company, valued at approximately $611,867.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Chairman Alessandro Dinello bought 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average price of $4.19 per share, with a total value of $209,500.00. Following the completion of the purchase, the chairman now directly owns 114,305 shares of the company’s stock, valued at approximately $478,937.95. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Peter Schoels bought 100,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average cost of $4.15 per share, with a total value of $415,000.00. Following the purchase, the director now directly owns 147,438 shares of the company’s stock, valued at $611,867.70. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 186,310 shares of company stock valued at $775,627. 1.62% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vima LLC purchased a new stake in shares of New York Community Bancorp during the fourth quarter valued at $65,000. Goldman Sachs Group Inc. lifted 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 purchasing an additional 2,206,140 shares during the last quarter. Virtu Financial LLC lifted its holdings in shares of New York Community Bancorp by 24.6% during the fourth quarter. Virtu Financial LLC now owns 70,945 shares of the financial services provider’s stock valued at $726,000 after purchasing an additional 14,011 shares during the last quarter. Mendon Capital Advisors Corp purchased a new stake in New York Community Bancorp in the 4th quarter worth about $7,672,000. Finally, Novak & Powell Financial Services Inc. purchased a new stake in New York Community Bancorp in the 4th quarter worth about $559,000. Institutional investors own 67.52% of the company’s stock.

About New York Community Bancorp

(Get Free Report)

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.

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