New York Community Bancorp (NYSE:NYCB) Stock Rating Upgraded by Wedbush

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

A number of other equities research analysts also recently weighed in on the stock. Compass Point downgraded shares of New York Community Bancorp from a buy rating to a neutral rating and lowered their price objective for the company from $16.00 to $8.00 in a research report on Thursday, February 1st. Citigroup reduced their target price on shares of New York Community Bancorp from $5.00 to $3.50 and set a neutral rating for the company in a research note on Thursday, March 7th. StockNews.com upgraded shares of New York Community Bancorp to a sell rating in a research note on Monday, April 29th. Barclays started coverage on New York Community Bancorp in a research report on Friday, March 8th. They set an equal weight rating and a $4.00 price objective for the company. Finally, Royal Bank of Canada lowered their target price on New York Community Bancorp from $5.00 to $4.00 and set a sector perform rating on the stock in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $5.39.

New York Community Bancorp Price Performance

NYCB opened at $3.53 on Wednesday. New York Community Bancorp has a twelve month low of $1.70 and a twelve month high of $14.22. The company has a fifty day simple moving average of $3.36 and a 200 day simple moving average of $7.02. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 2.70. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 353.00 and a beta of 0.95.

New York Community Bancorp (NYSE:NYCB) last issued its quarterly earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $776.81 million. During the same quarter last year, the company posted $0.23 earnings per share. The company’s quarterly revenue was down 76.1% compared to the same quarter last year. Equities research analysts expect that New York Community Bancorp will post -0.08 EPS for the current fiscal year.

New York Community Bancorp Cuts Dividend

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

Insider Buying and Selling at New York Community Bancorp

In related news, CEO Thomas R. Cangemi purchased 11,310 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average cost of $4.41 per share, for a total transaction of $49,877.10. Following the completion of the acquisition, the chief executive officer now owns 69,704 shares in the company, valued at approximately $307,394.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Alessandro Dinello purchased 50,000 shares of New York Community Bancorp stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $4.19 per share, for a total transaction of $209,500.00. Following the acquisition, the chairman now directly owns 114,305 shares in the company, valued at $478,937.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas R. Cangemi acquired 11,310 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $4.41 per share, for a total transaction of $49,877.10. Following the acquisition, the chief executive officer now directly owns 69,704 shares of the company’s stock, valued at approximately $307,394.64. The disclosure for this purchase can be found here. Insiders have acquired a total of 213,410 shares of company stock valued at $875,626 in the last 90 days. 1.62% of the stock is currently owned by corporate insiders.

Institutional Trading of New York Community Bancorp

Large investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC boosted its holdings in New York Community Bancorp by 10.4% in the third quarter. Commonwealth Equity Services LLC now owns 311,898 shares of the financial services provider’s stock worth $3,537,000 after purchasing an additional 29,426 shares in the last quarter. Mission Wealth Management LP bought a new stake in shares of New York Community Bancorp during the 3rd quarter worth about $227,000. FinTrust Capital Advisors LLC increased its holdings in shares of New York Community Bancorp by 36.0% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 7,321 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 1,938 shares during the last quarter. Raymond James & Associates raised its stake in shares of New York Community Bancorp by 6.9% in the 3rd quarter. Raymond James & Associates now owns 877,182 shares of the financial services provider’s stock valued at $9,947,000 after acquiring an additional 56,390 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in New York Community Bancorp by 17.0% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 393,487 shares of the financial services provider’s stock worth $4,462,000 after purchasing an additional 57,159 shares during the last quarter. 67.88% of the stock is owned by institutional investors.

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.