New York Community Bancorp, Inc. (NYSE:NYCB) declared a quarterly dividend on Wednesday, May 1st, Wall Street Journal reports. Investors of record on Tuesday, May 14th will be paid a dividend of 0.17 per share by the financial services provider on Tuesday, May 28th. This represents a $0.68 annualized dividend and a dividend yield of 6.02%. The ex-dividend date is Monday, May 13th.
New York Community Bancorp has decreased its dividend by an average of 12.1% annually over the last three years. New York Community Bancorp has a dividend payout ratio of 84.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect New York Community Bancorp to earn $0.86 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 79.1%.
Shares of NYCB opened at $11.30 on Friday. New York Community Bancorp has a twelve month low of $8.61 and a twelve month high of $12.72. The firm has a market capitalization of $5.26 billion, a P/E ratio of 14.30, a PEG ratio of 1.43 and a beta of 0.97. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.35 and a current ratio of 1.31.
Several analysts recently issued reports on the company. B. Riley reiterated a “neutral” rating on shares of New York Community Bancorp in a report on Wednesday, April 10th. Jefferies Financial Group assumed coverage on New York Community Bancorp in a report on Monday, April 8th. They issued a “hold” rating and a $12.00 price target for the company. Zacks Investment Research downgraded New York Community Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, April 2nd. Morgan Stanley downgraded New York Community Bancorp from an “equal weight” rating to an “underweight” rating and set a $11.50 price target for the company. in a report on Monday, March 11th. Finally, UBS Group upgraded New York Community Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the company from $10.00 to $15.00 in a research note on Wednesday, February 6th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $12.06.
In other New York Community Bancorp news, Director Dominick Ciampa bought 34,000 shares of the stock in a transaction dated Wednesday, March 27th. The stock was bought at an average cost of $11.61 per share, for a total transaction of $394,740.00. Following the completion of the purchase, the director now directly owns 7,508 shares of the company’s stock, valued at $87,167.88. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.31% of the stock is owned by company insiders.
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About New York Community Bancorp
New York Community Bancorp, Inc operates as a bank holding company for New York Community Bank that provides banking products and services in Metro New York, New Jersey, Ohio, Florida, and Arizona. The company offers various deposit products, including interest-bearing checking and money market, savings, non-interest-bearing, and individual retirement accounts, as well as certificates of deposit.
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