Recent Investment Analysts’ Ratings Updates for New York Community Bancorp (NYCB)

New York Community Bancorp (NYSE: NYCB) has recently received a number of price target changes and ratings updates:

• 5/1/2024 – New York Community Bancorp was upgraded by analysts at Piper Sandler from a “neutral” rating to an “overweight” rating. They now have a $4.00 price target on the stock.
• 5/1/2024 – New York Community Bancorp was upgraded by analysts at Wedbush from an “underperform” rating to a “neutral” rating. They now have a $3.50 price target on the stock, up previously from $3.00.
• 4/29/2024 – New York Community Bancorp was upgraded by analysts at StockNews.com to a “sell” rating.
• 4/15/2024 – New York Community Bancorp was upgraded by analysts at StockNews.com to a “sell” rating.
• 4/9/2024 – New York Community Bancorp had its price target lowered by analysts at Royal Bank of Canada from $5.00 to $4.00. They now have a “sector perform” rating on the stock.
• 3/18/2024 – New York Community Bancorp was downgraded by analysts at Raymond James from a “market perform” rating to an “underperform” rating. They now have a $3.00 price target on the stock.
• 3/8/2024 – New York Community Bancorp is now covered by analysts at Barclays PLC. They set an “equal weight” rating and a $4.00 price target on the stock.
• 3/7/2024 – New York Community Bancorp had its price target lowered by analysts at Wedbush from $3.50 to $3.00. They now have an “underperform” rating on the stock.
• 3/7/2024 – New York Community Bancorp had its price target lowered by analysts at Citigroup Inc. from $5.00 to $3.50. They now have a “neutral” rating on the stock.
• 3/7/2024 – New York Community Bancorp had its price target lowered by analysts at Morgan Stanley from $6.00 to $4.00. They now have an “equal weight” rating on the stock.

New York Community Bancorp Trading Down 0.9 %

Shares of NYCB traded down $0.03 during trading hours on Thursday, reaching $3.37. 23,151,389 shares of the company traded hands, compared to its average volume of 34,452,020. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 1.01 and a beta of 0.95. New York Community Bancorp, Inc. has a 12-month low of $1.70 and a 12-month high of $14.22. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 2.70. The stock’s fifty day moving average price is $3.40 and its 200 day moving average price is $7.10.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings data on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.01. New York Community Bancorp had a net margin of 28.96% and a return on equity of 6.22%. The company had revenue of $633.00 million during the quarter, compared to analyst estimates of $776.81 million. During the same period in the prior year, the firm earned $0.23 earnings per share. The firm’s revenue for the quarter was down 76.1% compared to the same quarter last year. Sell-side analysts forecast that New York Community Bancorp, Inc. will post -0.08 earnings per share for the current year.

New York Community Bancorp Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, June 7th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Friday, June 7th. New York Community Bancorp’s dividend payout ratio (DPR) is presently 6.01%.

Insiders Place Their Bets

In other news, Director Marshall Lux bought 27,100 shares of New York Community Bancorp stock in a transaction on Thursday, March 21st. The stock was acquired at an average cost of $3.69 per share, for a total transaction of $99,999.00. Following the completion of the acquisition, the director now owns 64,872 shares of the company’s stock, valued at approximately $239,377.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Marshall Lux acquired 27,100 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were purchased at an average price of $3.69 per share, for a total transaction of $99,999.00. Following the completion of the acquisition, the director now directly owns 64,872 shares in the company, valued at approximately $239,377.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Thomas R. Cangemi acquired 11,310 shares of the stock in a transaction on Friday, February 9th. The stock was bought at an average price of $4.41 per share, for a total transaction of $49,877.10. Following the transaction, the chief executive officer now owns 69,704 shares in the company, valued at approximately $307,394.64. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 213,410 shares of company stock worth $875,626. 1.62% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NYCB. Norges Bank acquired a new stake in shares of New York Community Bancorp in the 4th quarter worth $77,628,000. Wellington Management Group LLP increased its position in shares of New York Community Bancorp by 7.5% during the 3rd quarter. Wellington Management Group LLP now owns 67,668,954 shares of the financial services provider’s stock worth $767,366,000 after purchasing an additional 4,723,876 shares during the last quarter. Westfield Capital Management Co. LP increased its position in shares of New York Community Bancorp by 154.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 5,135,955 shares of the financial services provider’s stock worth $58,242,000 after purchasing an additional 3,114,070 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of New York Community Bancorp by 353.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,830,195 shares of the financial services provider’s stock worth $28,953,000 after purchasing an additional 2,206,140 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its holdings in New York Community Bancorp by 187.4% during the 4th quarter. Rafferty Asset Management LLC now owns 2,466,622 shares of the financial services provider’s stock valued at $25,234,000 after acquiring an additional 1,608,267 shares during the period. 67.88% of the stock is owned by institutional investors and hedge funds.

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.