New York Community Bank (NYCB) Shares Gap Down Following Analyst Downgrade

New York Community Bank (NYSE:NYCB) shares gapped down prior to trading on Thursday after Barclays lowered their price target on the stock from $13.00 to $11.00. The stock had previously closed at $11.58, but opened at $12.04. Barclays currently has an equal weight rating on the stock. New York Community Bank shares last traded at $11.82, with a volume of 4101002 shares changing hands.

Several other analysts also recently issued reports on NYCB. Zacks Investment Research raised shares of New York Community Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. Bank of America raised shares of New York Community Bank from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 10th. TheStreet downgraded shares of New York Community Bank from a “b-” rating to a “c+” rating in a research note on Tuesday, January 16th. Morgan Stanley raised their price objective on shares of New York Community Bank from $14.00 to $14.75 and gave the stock an “equal weight” rating in a research note on Thursday, February 1st. Finally, ValuEngine downgraded shares of New York Community Bank from a “buy” rating to a “hold” rating in a research note on Saturday, February 3rd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. New York Community Bank has an average rating of “Hold” and an average target price of $13.07.

Large investors have recently modified their holdings of the company. Comerica Bank increased its position in shares of New York Community Bank by 1.0% during the fourth quarter. Comerica Bank now owns 431,082 shares of the financial services provider’s stock worth $5,983,000 after acquiring an additional 4,154 shares during the period. BlackRock Inc. increased its holdings in New York Community Bank by 1.1% during the fourth quarter. BlackRock Inc. now owns 49,132,135 shares of the financial services provider’s stock valued at $639,700,000 after buying an additional 518,946 shares during the period. Amundi Pioneer Asset Management Inc. purchased a new position in New York Community Bank during the fourth quarter valued at approximately $9,636,000. Schwab Charles Investment Management Inc. increased its holdings in New York Community Bank by 7.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,722,584 shares of the financial services provider’s stock valued at $22,429,000 after buying an additional 113,510 shares during the period. Finally, Dynamic Capital Management Ltd purchased a new position in New York Community Bank during the fourth quarter valued at approximately $1,210,000. 60.29% of the stock is currently owned by institutional investors and hedge funds.

The firm has a market cap of $6,353.18, a PE ratio of 14.64, a P/E/G ratio of 1.51 and a beta of 0.65. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 2.05.

New York Community Bank (NYSE:NYCB) last issued its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. The company had revenue of $296.32 million for the quarter, compared to analyst estimates of $300.29 million. New York Community Bank had a net margin of 25.91% and a return on equity of 6.81%. analysts anticipate that New York Community Bank will post 0.86 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 22nd. Investors of record on Tuesday, May 8th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 5.74%. The ex-dividend date of this dividend is Monday, May 7th. New York Community Bank’s payout ratio is 83.95%.

New York Community Bank Company Profile

New York Community Bancorp, Inc operates as a holding company for New York Community Bank and New York Commercial Bank that offer banking products and financial services in Metro New York, New Jersey, Ohio, Florida, and Arizona. The company offers various deposit products that include checking and savings accounts, individual retirement accounts, certificates of deposit, NOW and money market accounts, and non-interest-bearing accounts.

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