New York Community Bancorp (NYSE:NYCB) Price Target Increased to $12.50 by Analysts at JPMorgan Chase & Co.

New York Community Bancorp (NYSE:NYCB) had its price target raised by JPMorgan Chase & Co. from $11.50 to $12.50 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Other research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods lifted their target price on shares of New York Community Bancorp from $11.25 to $33.75 and gave the stock a market perform rating in a report on Monday, July 15th. Raymond James raised shares of New York Community Bancorp from an underperform rating to a market perform rating in a report on Tuesday, September 17th. Wedbush restated a neutral rating and set a $31.50 price objective on shares of New York Community Bancorp in a research report on Friday, July 26th. StockNews.com raised shares of New York Community Bancorp to a sell rating in a research report on Friday, July 19th. Finally, Barclays raised New York Community Bancorp from an equal weight rating to an overweight rating and increased their price target for the company from $10.00 to $14.00 in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, New York Community Bancorp currently has an average rating of Hold and a consensus target price of $17.48.

New York Community Bancorp Stock Performance

New York Community Bancorp stock opened at $11.78 on Wednesday. New York Community Bancorp has a fifty-two week low of $5.10 and a fifty-two week high of $34.47. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of -4.27 and a beta of 1.00. The stock’s 50 day simple moving average is $10.69 and its two-hundred day simple moving average is $12.01. The company has a debt-to-equity ratio of 3.66, a quick ratio of 1.17 and a current ratio of 1.27.

New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported ($3.15) EPS for the quarter, missing the consensus estimate of ($1.26) by ($1.89). New York Community Bancorp had a negative net margin of 10.78% and a negative return on equity of 4.49%. The firm had revenue of $671.00 million for the quarter, compared to analysts’ expectations of $722.47 million. During the same period in the prior year, the business posted $4.23 EPS. The business’s quarterly revenue was down 44.2% compared to the same quarter last year. As a group, analysts expect that New York Community Bancorp will post -2.42 earnings per share for the current fiscal year.

New York Community Bancorp Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Saturday, September 7th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.04 annualized dividend and a dividend yield of 0.34%. New York Community Bancorp’s payout ratio is -1.45%.

Institutional Investors Weigh In On New York Community Bancorp

Institutional investors have recently bought and sold shares of the business. Moody National Bank Trust Division lifted its holdings in shares of New York Community Bancorp by 49.6% in the first quarter. Moody National Bank Trust Division now owns 32,481 shares of the financial services provider’s stock worth $105,000 after buying an additional 10,770 shares in the last quarter. Virtu Financial LLC increased its holdings in New York Community Bancorp by 24.6% in the 4th quarter. Virtu Financial LLC now owns 70,945 shares of the financial services provider’s stock valued at $726,000 after acquiring an additional 14,011 shares during the last quarter. Fulton Bank N.A. purchased a new stake in New York Community Bancorp in the 1st quarter worth $111,000. Algert Global LLC boosted its holdings in shares of New York Community Bancorp by 144.5% during the 2nd quarter. Algert Global LLC now owns 461,902 shares of the financial services provider’s stock valued at $1,487,000 after purchasing an additional 273,002 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of New York Community Bancorp during the second quarter valued at about $575,000. 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.