New York Community Bancorp (NYSE:NYCB) Given New $4.00 Price Target at Citigroup

New York Community Bancorp (NYSE:NYCB) had its target price boosted by Citigroup from $3.50 to $4.00 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 issued reports about the company. Wedbush raised New York Community Bancorp from an underperform rating to a neutral rating and lifted their target price for the stock from $3.00 to $3.50 in a report on Wednesday, May 1st. Piper Sandler raised shares of New York Community Bancorp from a neutral rating to an overweight rating and set a $4.00 target price for the company in a research note on Wednesday, May 1st. StockNews.com upgraded shares of New York Community Bancorp to a sell rating in a research report on Monday, April 29th. Morgan Stanley cut their price objective on 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, Barclays decreased their target price on New York Community Bancorp from $5.00 to $4.00 and set an equal weight rating on the stock in a report on Monday, June 24th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $5.43.

New York Community Bancorp Stock Down 2.5 %

Shares of New York Community Bancorp stock opened at $3.37 on Wednesday. New York Community Bancorp has a 1-year low of $1.70 and a 1-year high of $14.22. The company has a market capitalization of $2.76 billion, a P/E ratio of 336.50 and a beta of 0.99. The business’s fifty day moving average price is $3.29 and its two-hundred day moving average price is $5.08. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.27 and a quick ratio of 1.26.

New York Community Bancorp’s stock is going to reverse split before the market opens on Wednesday, July 31st. The 1-3 reverse split was announced on Thursday, June 27th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, July 30th.

New York Community Bancorp (NYSE:NYCB) last released 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 return on equity of 2.91% and a net margin of 0.62%. The firm had revenue of $633.00 million during the quarter, compared to the consensus estimate of $776.81 million. During the same period in the prior year, the firm posted $0.23 earnings per share. The firm’s revenue for the quarter was down 76.1% compared to the same quarter last year. As a group, research analysts forecast that New York Community Bancorp will post -0.49 EPS for the current year.

New York Community Bancorp Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, June 7th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Friday, June 7th. New York Community Bancorp’s dividend payout ratio (DPR) is 400.00%.

Hedge Funds Weigh In On New York Community Bancorp

Several institutional investors and hedge funds have recently modified their holdings of NYCB. Versant Capital Management Inc grew its stake in New York Community Bancorp by 3,583.0% in the first quarter. Versant Capital Management Inc now owns 8,250 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 8,026 shares in the last quarter. Orion Capital Management LLC bought a new stake in shares of New York Community Bancorp in the 3rd quarter valued at approximately $28,000. Naples Money Management LLC acquired a new position in New York Community Bancorp in the fourth quarter worth approximately $30,000. FinTrust Capital Advisors LLC raised its position in New York Community Bancorp by 66.9% during the first quarter. FinTrust Capital Advisors LLC now owns 9,673 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 3,876 shares in the last quarter. Finally, KG&L Capital Management LLC acquired a new stake in New York Community Bancorp in the first quarter valued at approximately $32,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

New York Community Bancorp Company Profile

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.