Community Bancorp of New York, Inc. (NYSE:NYCB – Get Rating) declared a quarterly dividend on Wednesday, October 26, reports RTT News. Shareholders of record on Monday November 7 will receive a dividend of 0.17 per share from the financial services provider on Thursday November 17. This represents an annualized dividend of $0.68 and a yield of 7.72%.
New York Community Bancorp has a payout ratio of 56.7%, which means its dividend is sufficiently covered by earnings. Analysts expect New York Community Bancorp to earn $1.29 per share next year, meaning the company should continue to be able to cover its annual dividend of $0.68 with a ratio of expected future payout of 52.7%.
Shares of Community Bancorp of New York fall 1.6%
NYCB shares traded down $0.14 during the midday session on Wednesday, hitting $8.81. 312,831 shares of the stock have been traded, compared to its average volume of 8,606,498. The stock has a market capitalization of $4.11 billion, a P/E ratio of 7.16, a P /E/G of 0.66 and a beta of 1.01. The stock’s fifty-day moving average is $9.34 and its two-hundred-day moving average is $9.53. New York Community Bancorp has a 52-week low of $8.17 and a 52-week high of $14.03. The company has a debt ratio of 2.26, a current ratio of 1.25 and a quick ratio of 1.25.
New York Community Bancorp (NYSE:NYCB – Get Rating) released its quarterly results for the last time on Wednesday, July 27. The financial services provider reported EPS of $0.35 for the quarter, beating the consensus estimate of $0.32 by $0.03. The company posted revenue of $377.00 million in the quarter, versus analyst estimates of $353.96 million. New York Community Bancorp had a net margin of 34.72% and a return on equity of 10.00%. The company’s quarterly revenue increased 8.6% year over year. In the same period a year earlier, the company posted earnings per share of $0.33. Stock analysts predict that New York Community Bancorp will post EPS of 1.29 for the current year.
A Wall Street analyst gives his opinion
Several research companies commented on NYCB. B. Riley cut his price target on New York Community Bancorp stock from $11.00 to $10.00 in a Monday, July 11 research report. StockNews.com took over coverage of New York Community Bancorp stocks in a Wednesday, October 12 research report. They issued a “hold” rating for the company. Compass Point cut its price target on New York Community Bancorp stock to $10.00 in a Thursday, October 20 research report. Credit Suisse Group lowered its price target on New York Community Bancorp shares to $9.00 in a Thursday, October 13 research report. Finally, Wedbush reaffirmed a “neutral” rating and issued a $10.00 price target on New York Community Bancorp shares in a Wednesday, September 28 research report. One analyst rated the stock with a sell rating and four rated the company’s stock with a hold rating. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $9.83.
Insider buying and selling
In other news from New York Community Bancorp, Director Marshall Lux bought 6,000 shares of the company in a deal that took place on Friday, September 30. The shares were purchased at an average price of $8.63 per share, for a total transaction of $51,780.00. Following the acquisition, the director now owns 6,000 shares of the company, valued at $51,780. The acquisition was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. 1.58% of the shares are held by insiders.
Hedge funds weigh on New York Community Bancorp
Several hedge funds and other institutional investors have recently bought and sold shares of NYCB. US Bancorp DE increased its equity stake in New York Community Bancorp by 2.7% in the first quarter. US Bancorp DE now owns 60,084 shares of the financial services provider worth $644,000 after purchasing an additional 1,587 shares during the period. Global Wealth Management Investment Advisory Inc. increased its stake in New York Community Bancorp shares by 58.3% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 4,750 shares of the financial services provider worth $51,000 after purchasing an additional 1,750 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of New York Community Bancorp during Q2 for a value of approximately $27,000. Captrust Financial Advisors increased its stake in New York Community Bancorp shares by 80.7% during the 2nd quarter. Captrust Financial Advisors now owns 11,743 shares of the financial services provider worth $107,000 after purchasing an additional 5,246 shares during the period. Finally, Legal & General Group Plc increased its stake in New York Community Bancorp shares by 0.5% during the 2nd quarter. Legal & General Group Plc now owns 1,091,599 shares of the financial services provider worth $9,966,000 after buying an additional 5,257 shares during the period. Institutional investors and hedge funds hold 62.84% of the company’s shares.
New York Community Bancorp Company Profile
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New York Community Bancorp, Inc operates as a banking holding company for New York Community Bank which provides banking products and services in the New York metropolitan area, New Jersey, Ohio, Florida and Arizona. The Company accepts various deposit products, such as interest-bearing checks and money market accounts, savings accounts, non-interest-bearing accounts and individual retirement accounts, as well as certificates of deposit.
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