New York Community Bancorp, Inc. (NYSE:NYCB) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Wednesday, July 19th.
NYCB has been the subject of several other reports. FBR & Co reduced their price target on New York Community Bancorp from $14.00 to $13.00 and set an “underperform” rating for the company in a research note on Friday, April 7th. Keefe, Bruyette & Woods set a $15.00 price target on New York Community Bancorp and gave the company a “hold” rating in a research note on Tuesday, April 4th. ValuEngine upgraded New York Community Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, May 11th. Morgan Stanley restated an “equal weight” rating and issued a $13.75 price target (down from $14.00) on shares of New York Community Bancorp in a research note on Friday, July 7th. Finally, Stephens started coverage on New York Community Bancorp in a research note on Wednesday, April 5th. They issued an “equal weight” rating for the company. Two investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $14.46.
Shares of New York Community Bancorp (NYSE NYCB) traded up 0.47% on Wednesday, reaching $12.93. The company had a trading volume of 5,213,462 shares. The firm has a market capitalization of $6.32 billion, a price-to-earnings ratio of 14.08 and a beta of 0.59. The company’s 50-day moving average price is $13.11 and its 200-day moving average price is $13.92. New York Community Bancorp has a 52-week low of $12.61 and a 52-week high of $17.68.
New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.03. The business had revenue of $338.21 million during the quarter, compared to the consensus estimate of $326.36 million. New York Community Bancorp had a return on equity of 7.46% and a net margin of 25.67%. During the same period in the previous year, the company posted $0.26 EPS. On average, analysts predict that New York Community Bancorp will post $0.79 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. increased its stake in New York Community Bancorp by 12.6% in the first quarter. Daiwa Securities Group Inc. now owns 13,400 shares of the financial services provider’s stock worth $187,000 after buying an additional 1,500 shares during the last quarter. Cadence Capital Management LLC increased its stake in New York Community Bancorp by 16.4% in the first quarter. Cadence Capital Management LLC now owns 72,150 shares of the financial services provider’s stock worth $1,008,000 after buying an additional 10,192 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in New York Community Bancorp during the first quarter worth $608,000. Massachusetts Financial Services Co. MA increased its stake in New York Community Bancorp by 2.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,971,604 shares of the financial services provider’s stock worth $27,543,000 after buying an additional 54,147 shares during the last quarter. Finally, Capstone Asset Management Co. increased its stake in New York Community Bancorp by 2.3% in the first quarter. Capstone Asset Management Co. now owns 42,587 shares of the financial services provider’s stock worth $595,000 after buying an additional 960 shares during the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.
About New York Community Bancorp
New York Community Bancorp, Inc is a multi-bank holding company. The Company operates through its subsidiaries, New York Community Bank (the Community Bank) and New York Commercial Bank (the Commercial Bank) (collectively, the Banks). The Company’s operations are divided into two segments: Banking Operations and Residential Mortgage Banking.
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