New York Community Bancorp (NYSE:NYCB) Price Target Cut to $4.00

New York Community Bancorp (NYSE:NYCB) had its price objective decreased by analysts at Barclays from $5.00 to $4.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price would suggest a potential upside of 29.87% from the stock’s current price.

Several other equities research analysts have also recently issued reports on NYCB. StockNews.com raised shares of New York Community Bancorp to a “sell” rating in a research report on Monday, April 29th. Citigroup decreased their target price on shares of New York Community Bancorp from $5.00 to $3.50 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. Morgan Stanley decreased their target price on shares of New York Community Bancorp from $6.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 7th. Wedbush raised shares of New York Community Bancorp from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $3.00 to $3.50 in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada decreased their target price on shares of 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 assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $5.39.

New York Community Bancorp Price Performance

Shares of NYCB traded up $0.02 during trading hours on Monday, reaching $3.08. The company had a trading volume of 4,481,078 shares, compared to its average volume of 28,326,500. The firm has a 50 day simple moving average of $3.26 and a 200-day simple moving average of $5.45. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 3.39. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 309.00 and a beta of 0.98. New York Community Bancorp has a 12-month low of $1.70 and a 12-month high of $14.22.

New York Community Bancorp (NYSE:NYCB) last posted its earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share for the quarter, beating 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 2.91%. The firm had revenue of $633.00 million during the quarter, compared to the consensus estimate of $776.81 million. During the same period last year, the firm posted $0.23 EPS. The firm’s revenue for the quarter was down 76.1% on a year-over-year basis. Research analysts expect that New York Community Bancorp will post -0.49 earnings per share for the current year.

Institutional Investors Weigh In On New York Community Bancorp

Institutional investors have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale acquired a new stake in New York Community Bancorp in the 3rd quarter valued at about $338,000. QRG Capital Management Inc. acquired a new stake in New York Community Bancorp during the 3rd quarter worth about $198,000. Envestnet Portfolio Solutions Inc. acquired a new stake in New York Community Bancorp during the 3rd quarter worth about $151,000. Invesco Ltd. raised its holdings in New York Community Bancorp by 3.4% during the 3rd quarter. Invesco Ltd. now owns 2,699,449 shares of the financial services provider’s stock worth $30,612,000 after buying an additional 88,482 shares during the period. Finally, LPL Financial LLC raised its holdings in New York Community Bancorp by 26.5% during the 3rd quarter. LPL Financial LLC now owns 365,828 shares of the financial services provider’s stock worth $4,148,000 after buying an additional 76,687 shares during the period. Institutional investors and hedge funds own 67.88% of the company’s stock.

New York Community Bancorp Company Profile

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.