StockNews.com Begins Coverage on New York Community Bancorp (NYSE:NYCB)

Investment analysts at StockNews.com initiated coverage on shares of New York Community Bancorp (NYSE:NYCB) in a research note issued to investors on Wednesday. The brokerage set a “sell” rating on the financial services provider’s stock.

Other analysts have also issued reports about the company. Wedbush reiterated a “neutral” rating and set a $31.50 price target on shares of New York Community Bancorp in a report on Friday, July 26th. JPMorgan Chase & Co. raised their target price on New York Community Bancorp from $11.50 to $12.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods raised their target price on New York Community Bancorp from $11.25 to $33.75 and gave the stock a “market perform” rating in a research report on Monday, July 15th. Barclays raised New York Community Bancorp from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $10.00 to $14.00 in a research report on Thursday, September 26th. Finally, Raymond James raised New York Community Bancorp from an “underperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, New York Community Bancorp presently has a consensus rating of “Hold” and an average price target of $17.48.

New York Community Bancorp Stock Performance

Shares of New York Community Bancorp stock opened at $10.55 on Wednesday. The company has a market cap of $4.38 billion, a PE ratio of -2.42 and a beta of 1.00. New York Community Bancorp has a 52 week low of $5.10 and a 52 week high of $34.47. The business has a 50 day moving average price of $11.09 and a 200-day moving average price of $12.23. The company has a quick ratio of 1.11, a current ratio of 1.14 and a debt-to-equity ratio of 2.52.

New York Community Bancorp (NYSE:NYCB) last issued its quarterly earnings results on Friday, October 25th. The financial services provider reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.29). The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $621.72 million. New York Community Bancorp had a negative return on equity of 11.35% and a negative net margin of 18.40%. During the same quarter last year, the business posted $1.08 earnings per share. Equities analysts anticipate that New York Community Bancorp will post -3 earnings per share for the current fiscal year.

Institutional Trading of New York Community Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in NYCB. AlphaMark Advisors LLC lifted its position in New York Community Bancorp by 26.0% in the 2nd quarter. AlphaMark Advisors LLC now owns 8,734 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 1,803 shares in the last quarter. Hantz Financial Services Inc. bought a new position in New York Community Bancorp in the 2nd quarter valued at approximately $28,000. Carmichael Hill & Associates Inc. lifted its position in New York Community Bancorp by 201.0% in the 2nd quarter. Carmichael Hill & Associates Inc. now owns 9,029 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 6,029 shares in the last quarter. Allworth Financial LP bought a new position in New York Community Bancorp in the 3rd quarter valued at approximately $29,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of New York Community Bancorp by 4,665.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,530 shares of the financial services provider’s stock valued at $31,000 after buying an additional 9,330 shares during the period. Hedge funds and other institutional investors own 67.88% of the company’s stock.

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.