New York Community Bancorp, Inc. (NYCB) Plans Quarterly Dividend of $0.17
New York Community Bancorp, Inc. (NYSE:NYCB) declared a quarterly dividend on Wednesday, October 25th, RTT News reports. Stockholders of record on Tuesday, November 7th will be given a dividend of 0.17 per share by the financial services provider on Tuesday, November 21st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.44%.
New York Community Bancorp has decreased its dividend payment by an average of 12.1% annually over the last three years. New York Community Bancorp has a payout ratio of 88.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect New York Community Bancorp to earn $0.84 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 81.0%.
New York Community Bancorp (NYSE NYCB) traded down 2.11% during trading on Wednesday, hitting $12.50. 5,322,886 shares of the stock were exchanged. The firm has a market cap of $6.11 billion, a PE ratio of 13.60 and a beta of 0.58. New York Community Bancorp has a 12-month low of $11.67 and a 12-month high of $17.68. The stock’s 50-day moving average price is $12.60 and its 200-day moving average price is $12.87.
New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. New York Community Bancorp had a net margin of 25.67% and a return on equity of 7.46%. During the same period last year, the business earned $0.26 earnings per share. On average, equities analysts expect that New York Community Bancorp will post $0.78 EPS for the current year.
A number of equities analysts recently commented on NYCB shares. Zacks Investment Research upgraded New York Community Bancorp from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 30th. BidaskClub downgraded New York Community Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th. Barclays PLC dropped their price objective on New York Community Bancorp from $14.00 to $12.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 11th. Morgan Stanley restated an “equal weight” rating and issued a $13.75 price objective (down previously from $14.00) on shares of New York Community Bancorp in a report on Friday, July 7th. Finally, Piper Jaffray Companies restated a “sell” rating and issued a $11.00 price objective on shares of New York Community Bancorp in a report on Tuesday, September 19th. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. The company currently has an average rating of “Hold” and an average target price of $12.45.
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New York Community Bancorp Company Profile
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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