New York Community Bancorp (NYSE:NYCB) PT Raised to $4.00

New York Community Bancorp (NYSE:NYCB) had its target price raised by investment analysts at Citigroup from $3.50 to $4.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Citigroup’s price target points to a potential upside of 19.40% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. StockNews.com raised New York Community Bancorp to a “sell” rating in a research report on Monday, April 29th. Raymond James cut shares of New York Community Bancorp from a “market perform” rating to an “underperform” rating and set a $3.00 target price for the company. in a research report on Monday, March 18th. Morgan Stanley cut their price target on shares of New York Community Bancorp from $6.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, March 7th. Piper Sandler raised New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $4.00 price objective for the company in a research report on Wednesday, May 1st. Finally, Barclays decreased their price target on New York Community Bancorp from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Monday, June 24th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, New York Community Bancorp currently has an average rating of “Hold” and an average price target of $5.43.

New York Community Bancorp Stock Down 2.9 %

NYSE NYCB opened at $3.35 on Wednesday. The stock has a 50 day moving average price of $3.29 and a 200-day moving average price of $5.07. New York Community Bancorp has a one year low of $1.70 and a one year high of $14.22. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.26 and a current ratio of 1.27. The company has a market capitalization of $2.75 billion, a P/E ratio of 335.00 and a beta of 0.99.

New York Community Bancorp’s stock is scheduled to reverse split before the market opens on Wednesday, July 31st. The 1-3 reverse split was announced on Thursday, June 27th. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, July 30th.

New York Community Bancorp (NYSE:NYCB) last issued its quarterly earnings data on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. The business had revenue of $633.00 million for the quarter, compared to the consensus estimate of $776.81 million. New York Community Bancorp had a return on equity of 2.91% and a net margin of 0.62%. The company’s quarterly revenue was down 76.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.23 earnings per share. As a group, equities analysts predict that New York Community Bancorp will post -0.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NYCB. Wellington Management Group LLP increased its holdings in shares of New York Community Bancorp by 7.5% during the 3rd quarter. Wellington Management Group LLP now owns 67,668,954 shares of the financial services provider’s stock valued at $767,366,000 after purchasing an additional 4,723,876 shares in the last quarter. Norges Bank acquired a new position in shares of New York Community Bancorp in the fourth quarter worth about $77,628,000. Kahn Brothers Group Inc. boosted its stake in shares of New York Community Bancorp by 0.9% during the 1st quarter. Kahn Brothers Group Inc. now owns 6,213,289 shares of the financial services provider’s stock worth $20,007,000 after acquiring an additional 53,275 shares in the last quarter. Cannell & Co. grew its position in shares of New York Community Bancorp by 12.3% during the 4th quarter. Cannell & Co. now owns 4,574,137 shares of the financial services provider’s stock valued at $46,793,000 after acquiring an additional 500,545 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of New York Community Bancorp by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,553,207 shares of the financial services provider’s stock valued at $46,579,000 after purchasing an additional 33,122 shares in the last quarter. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

About New York Community Bancorp

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.