New York Community Bancorp (NYSE:NYCB) Upgraded to “Sell” at StockNews.com

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

Other research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft cut New York Community Bancorp from a buy rating to a hold rating and lowered their price target for the stock from $15.00 to $7.00 in a report on Friday, February 2nd. Compass Point cut New York Community Bancorp from a buy rating to a neutral rating and lowered their price target for the stock from $16.00 to $8.00 in a report on Thursday, February 1st. Jefferies Financial Group cut New York Community Bancorp from a buy rating to a hold rating and lowered their price target for the stock from $13.00 to $7.00 in a report on Thursday, February 1st. Piper Sandler reissued a neutral rating and issued a $5.00 price target (down from $8.00) on shares of New York Community Bancorp in a report on Friday, March 1st. Finally, Royal Bank of Canada lowered their price target on New York Community Bancorp from $5.00 to $4.00 and set a sector perform rating on the stock in a report on Tuesday, April 9th. Three analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $5.43.

New York Community Bancorp Trading Up 2.6 %

New York Community Bancorp stock opened at $2.92 on Monday. The business has a 50-day simple moving average of $3.80 and a two-hundred day simple moving average of $7.74. The company has a market cap of $2.33 billion, a P/E ratio of 0.88, a P/E/G ratio of 31.60 and a beta of 0.92. New York Community Bancorp has a 52-week low of $1.70 and a 52-week high of $14.22. The company has a quick ratio of 1.17, a current ratio of 1.18 and a debt-to-equity ratio of 2.70.

New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings data 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). The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $935.90 million. New York Community Bancorp had a net margin of 28.96% and a return on equity of 6.22%. During the same quarter last year, the firm posted $0.25 earnings per share. Analysts predict that New York Community Bancorp will post 0.01 EPS for the current year.

New York Community Bancorp Cuts Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.20 annualized dividend and a yield of 6.86%. New York Community Bancorp’s payout ratio is presently 6.01%.

Insider Activity at New York Community Bancorp

In related news, CEO Thomas R. Cangemi purchased 11,310 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average price of $4.41 per share, for a total transaction of $49,877.10. Following the acquisition, the chief executive officer now owns 69,704 shares of the company’s stock, valued at approximately $307,394.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other New York Community Bancorp news, Chairman Alessandro Dinello acquired 50,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were bought at an average price of $4.19 per share, with a total value of $209,500.00. Following the transaction, the chairman now directly owns 114,305 shares of the company’s stock, valued at approximately $478,937.95. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas R. Cangemi acquired 11,310 shares of the business’s stock in a transaction on Friday, February 9th. The stock was acquired at an average cost of $4.41 per share, for a total transaction of $49,877.10. Following the transaction, the chief executive officer now directly owns 69,704 shares in the company, valued at $307,394.64. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 213,410 shares of company stock worth $875,626. Company insiders own 1.62% of the company’s stock.

Hedge Funds Weigh In On New York Community Bancorp

Several hedge funds have recently bought and sold shares of NYCB. Orion Capital Management LLC bought a new position in shares of New York Community Bancorp during the 3rd quarter worth $28,000. Loomis Sayles & Co. L P bought a new position in shares of New York Community Bancorp during the 3rd quarter worth $29,000. Naples Money Management LLC bought a new position in shares of New York Community Bancorp during the 4th quarter worth $30,000. Point72 Hong Kong Ltd bought a new position in shares of New York Community Bancorp during the 2nd quarter worth $27,000. Finally, Point72 Asset Management L.P. bought a new position in shares of New York Community Bancorp during the 2nd quarter worth $35,000. Institutional investors own 67.88% of the company’s stock.

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.