Zacks Investment Research upgraded shares of New York Community Bancorp, Inc. (NYSE:NYCB) from a sell rating to a hold rating in a research report report published on Friday morning.

According to Zacks, “New York Community Bancorp, Inc. is a leading producer of multi-family loans in New York City, with an emphasis on apartment buildings that feature below-market rents. The Company has two bank subsidiaries: New York Community Bank, with 178 branches serving customers throughout Metro New York and New Jersey; and New York Commercial Bank, with 36 branches serving customers in Manhattan, Queens, Brooklyn, Long Island, and Westchester County in New York. Reflecting its growth through a series of acquisitions, the Community Bank operates through five local divisions: Queens County Savings Bank in Queens, Roslyn Savings Bank on Long Island, Richmond County Savings Bank on Staten Island, Roosevelt Savings Bank in Brooklyn, and Garden State Community Bank in New Jersey. Similarly, the Commercial Bank operates 17 of its branches under the name Atlantic Bank. “

NYCB has been the topic of a number of other reports. BidaskClub upgraded New York Community Bancorp from a sell rating to a hold rating in a research note on Tuesday, September 26th. Barclays PLC lowered 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 research note on Wednesday, October 11th. Piper Jaffray Companies set a $11.00 price objective on New York Community Bancorp and gave the company a sell rating in a research note on Thursday, August 17th. Finally, FBR & Co restated a sell rating on shares of New York Community Bancorp in a research note on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. New York Community Bancorp presently has a consensus rating of Hold and an average target price of $12.45.

Shares of New York Community Bancorp (NYSE:NYCB) opened at $12.94 on Friday. New York Community Bancorp has a 52 week low of $11.67 and a 52 week high of $17.68. The company has a market capitalization of $6,320.00, a price-to-earnings ratio of 14.61 and a beta of 0.57. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.41 and a current ratio of 1.41.

New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.04. New York Community Bancorp had a return on equity of 7.17% and a net margin of 24.22%. The business had revenue of $385.27 million for the quarter, compared to analysts’ expectations of $313.64 million. During the same period in the previous year, the business posted $0.26 EPS. research analysts predict that New York Community Bancorp will post 0.68 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 5.26%. The ex-dividend date of this dividend is Monday, November 6th. New York Community Bancorp’s dividend payout ratio is presently 78.16%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of New York Community Bancorp by 2.3% during the second quarter. Vanguard Group Inc. now owns 40,770,549 shares of the financial services provider’s stock valued at $535,317,000 after buying an additional 910,170 shares during the period. State Street Corp increased its position in shares of New York Community Bancorp by 1.8% during the second quarter. State Street Corp now owns 21,898,657 shares of the financial services provider’s stock valued at $287,534,000 after buying an additional 376,921 shares during the period. Alecta Pensionsforsakring Omsesidigt increased its position in shares of New York Community Bancorp by 8.6% during the third quarter. Alecta Pensionsforsakring Omsesidigt now owns 11,400,000 shares of the financial services provider’s stock valued at $146,946,000 after buying an additional 900,000 shares during the period. Renaissance Technologies LLC increased its position in shares of New York Community Bancorp by 6.7% during the second quarter. Renaissance Technologies LLC now owns 10,289,400 shares of the financial services provider’s stock valued at $135,100,000 after buying an additional 642,723 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of New York Community Bancorp by 3.8% during the third quarter. Bank of New York Mellon Corp now owns 6,496,698 shares of the financial services provider’s stock valued at $83,743,000 after buying an additional 235,792 shares during the period. Hedge funds and other institutional investors own 58.97% of the company’s stock.

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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Analyst Recommendations for New York Community Bancorp (NYSE:NYCB)

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