New York Community Bancorp (NYSE:NYCB) Given a $13.00 Price Target by B. Riley Analysts

B. Riley set a $13.00 price objective on New York Community Bancorp (NYSE:NYCB) in a report released on Wednesday morning, TipRanks reports. The brokerage currently has a buy rating on the financial services provider’s stock.

A number of other brokerages also recently commented on NYCB. Royal Bank of Canada initiated coverage on New York Community Bancorp in a research report on Friday, July 12th. They issued an outperform rating and a $12.00 price objective for the company. Sandler O’Neill downgraded New York Community Bancorp from a buy rating to a hold rating in a research report on Wednesday. Zacks Investment Research downgraded New York Community Bancorp from a buy rating to a hold rating in a research report on Tuesday, April 2nd. TheStreet downgraded New York Community Bancorp from a b- rating to a c+ rating in a research report on Thursday, June 13th. Finally, Bank of America set a $13.00 price target on New York Community Bancorp and gave the company a buy rating in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. New York Community Bancorp has a consensus rating of Hold and a consensus price target of $12.20.

Shares of NYSE:NYCB opened at $11.55 on Wednesday. The stock has a market capitalization of $5.40 billion, a P/E ratio of 14.62, a P/E/G ratio of 1.49 and a beta of 0.99. The company has a debt-to-equity ratio of 2.12, a quick ratio of 1.31 and a current ratio of 1.30. New York Community Bancorp has a 52 week low of $8.61 and a 52 week high of $12.72. The firm has a fifty day simple moving average of $10.29.

New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.19 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.19. The business had revenue of $255.29 million during the quarter, compared to the consensus estimate of $255.49 million. New York Community Bancorp had a return on equity of 6.52% and a net margin of 21.73%. During the same quarter in the previous year, the business earned $0.20 earnings per share. Research analysts forecast that New York Community Bancorp will post 0.77 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Monday, August 12th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.89%. The ex-dividend date is Friday, August 9th. New York Community Bancorp’s dividend payout ratio is presently 86.08%.

In related news, Director Hanif Dahya acquired 1,640 shares of New York Community Bancorp stock in a transaction on Thursday, May 9th. The shares were bought at an average price of $26.31 per share, for a total transaction of $43,148.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.31% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the business. TCI Wealth Advisors Inc. lifted its stake in shares of New York Community Bancorp by 52.0% in the second quarter. TCI Wealth Advisors Inc. now owns 4,259 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,457 shares in the last quarter. Advisory Services Network LLC lifted its stake in shares of New York Community Bancorp by 20.1% in the fourth quarter. Advisory Services Network LLC now owns 5,960 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 999 shares in the last quarter. TRUE Private Wealth Advisors acquired a new position in shares of New York Community Bancorp in the second quarter worth about $85,000. Colrain Capital LLC acquired a new position in shares of New York Community Bancorp in the first quarter worth about $93,000. Finally, Joseph P. Lucia & Associates LLC acquired a new position in shares of New York Community Bancorp in the first quarter worth about $125,000. Institutional investors own 62.86% of the company’s stock.

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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Analyst Recommendations for New York Community Bancorp (NYSE:NYCB)

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