New York Community Bancorp (NYSE:NYCB) Rating Increased to Neutral at Wedbush

Wedbush upgraded shares of New York Community Bancorp (NYSE:NYCB) from an underperform rating to a neutral rating in a research report released on Wednesday, MarketBeat Ratings reports. The brokerage currently has $3.50 price objective on the financial services provider’s stock, up from their previous price objective of $3.00. Wedbush also issued estimates for New York Community Bancorp’s Q1 2025 earnings at $0.04 EPS.

NYCB has been the subject of several other research reports. StockNews.com raised New York Community Bancorp to a sell rating in a research note on Monday, April 29th. Raymond James lowered New York Community Bancorp from a market perform rating to an underperform rating and set a $3.00 price objective for the company. in a report on Monday, March 18th. TheStreet downgraded shares of New York Community Bancorp from a b- rating to a c+ rating in a research note on Monday, February 5th. Morgan Stanley dropped their target price on shares of New York Community Bancorp from $6.00 to $4.00 and set an equal weight rating for the company in a research report on Thursday, March 7th. Finally, Piper Sandler raised shares of New York Community Bancorp from a neutral rating to an overweight rating and set a $4.00 price target on the stock in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, New York Community Bancorp presently has a consensus rating of Hold and a consensus price target of $5.39.

New York Community Bancorp Trading Up 4.7 %

Shares of NYCB opened at $3.53 on Wednesday. The business’s 50-day moving average price is $3.36 and its 200-day moving average price is $6.99. 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 has a twelve month low of $1.70 and a twelve month high of $14.22. The stock has a market cap of $2.82 billion, a PE ratio of 353.00 and a beta of 0.95.

New York Community Bancorp (NYSE:NYCB) last posted its earnings results 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 0.62% and a return on equity of 2.78%. The business had revenue of $633.00 million for the quarter, compared to analyst estimates of $776.81 million. During the same quarter in the prior year, the firm posted $0.23 EPS. New York Community Bancorp’s revenue was down 76.1% on a year-over-year basis. On average, equities analysts forecast that New York Community Bancorp will post -0.11 EPS for the current fiscal year.

New York Community Bancorp Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, June 7th will be given a $0.01 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.04 annualized dividend and a yield of 1.13%. New York Community Bancorp’s payout ratio is currently 2,000.00%.

Insider Activity

In other news, Director Peter Schoels purchased 100,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were acquired at an average price of $4.15 per share, with a total value of $415,000.00. Following the acquisition, the director now directly owns 147,438 shares in the company, valued at $611,867.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other New York Community Bancorp news, Director Peter Schoels acquired 100,000 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were purchased at an average cost of $4.15 per share, for a total transaction of $415,000.00. Following the transaction, the director now owns 147,438 shares in the company, valued at $611,867.70. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Alessandro Dinello bought 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average price of $4.19 per share, with a total value of $209,500.00. Following the acquisition, the chairman now owns 114,305 shares of the company’s stock, valued at $478,937.95. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 213,410 shares of company stock valued at $875,626. 1.62% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP grew its position in shares of New York Community Bancorp by 7.5% in 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 buying an additional 4,723,876 shares during the period. Norges Bank bought a new stake in shares of New York Community Bancorp in the 4th quarter worth approximately $77,628,000. Westfield Capital Management Co. LP grew its stake in shares of New York Community Bancorp by 154.0% in 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 buying an additional 3,114,070 shares during the last quarter. Cannell & Co. increased its position in New York Community Bancorp by 12.3% during the 4th quarter. Cannell & Co. now owns 4,574,137 shares of the financial services provider’s stock valued at $46,793,000 after buying an additional 500,545 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in New York Community Bancorp by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,553,207 shares of the financial services provider’s stock valued at $46,579,000 after buying an additional 33,122 shares during the last quarter. Hedge funds and other 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.