Morgan Stanley Adjusts NYCB Stock Price Objective to $6

Investment firm Morgan Stanley revises its price target for New York Community Bancorp (NYSE:NYCB), reducing it from the previous $7.00 to $6.00, according to recent reports. The financial services provider's stock continues to maintain its 'equal weight' rating from the institution.

Analysts Offer Mixed Reviews on NYCB

New York Community Bancorp has faced varying analyses from different reports. While Wedbush reissued a $6.00 target price with an 'underperform' rating, StockNews.com shifted its rating from 'hold' to 'sell.' TheStreet downgraded NYCB's rating from 'b-' to 'c+' recently. In more sobering assessments, JPMorgan Chase & Co. downgraded the stock from 'overweight' to 'neutral,' decreasing their target price from $11.50 to $5.50. On another note, Deutsche Bank Aktiengesellschaft shifted its stance from 'buy' to 'hold,' reducing its target price from $15.00 to $7.00. Out of several analysts covering the stock, two recommend selling, twelve suggest holding, and only one advocates buying. The compiled data from MarketBeat reflects an average 'Hold' rating and a consensus target price of $8.75.

Recent Performance of NYCB Stocks

As of recent trading, NYCB's shares were at $4.50. The company's market capitalization stands at $3.25 billion, with a price-to-earnings ratio of 1.35, a P/E to Growth (PEG) ratio of 0.56, and a beta of 1.03. Furthermore, the company's financial health is noted by a quick ratio of 1.17, a current ratio of 1.18, and a debt-to-equity ratio of 2.06. New York Community Bancorp recorded a 12-month low share price of $3.60 and had hit an annual high of $14.22. Over the last fifty days, the stock shows a simple moving average of $9.71 and a 200-day simple moving average of $10.64.

NYCB's Dividend and Earnings Outlook

New York Community Bancorp reported disappointing earnings with quarterly revenue of $1.59 billion not meeting the consensus estimate of $935.90 million, resulting in a surprising earnings per share shortfall of ($0.27), compared to the expected $0.29 EPS. Historically, the company posted $0.25 earnings per share in the same quarter of the previous year. Analysts anticipate NYCB to report earnings of $0.75 per share for the current fiscal year. Additionally, the company declared a quarterly dividend of $0.05 per share, payable on February 28th to stockholders on record as of February 14th. This decision implies an annualized dividend of $0.20 and a dividend yield of 4.44%, with a dividend payout ratio (DPR) currently at 20.42%.

Hedge Fund Activities in NYCB

Recent hedge fund activities show both increased stakes and reductions in NYCB shares. Wellington Management Group LLP expanded its holdings by 7.5%, now managing 67,668,954 shares valued at approximately $767,366,000. Similarly, Vanguard Group Inc. boosted its stake by 1.0%, achieving ownership of 44,302,719 shares, while State Street Corp reported a significant stake increase of 61.4%. In contrast, both Geode Capital Management LLC and Bank of New York Mellon Corp have moderately raised their holdings in the financial services provider. Institutional investors and hedge funds collectively possess 67.52% of NYCB stock.

Company Profile: New York Community Bancorp

New York Community Bancorp, Inc., the parent entity of Flagstar Bank, N.A., extends banking services across the United States. Their portfolio includes diverse deposit products like interest-bearing and non-interest-bearing accounts, savings, retirement accounts, and certificates of deposit.

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