Raymond James Upgrades New York Community Bancorp (NYSE:NYCB) to Market Perform

New York Community Bancorp (NYSE:NYCB) was upgraded by investment analysts at Raymond James from an “underperform” rating to a “market perform” rating in a report released on Tuesday, Benzinga reports.

A number of other equities analysts have also commented on the stock. Barclays lifted their price target on shares of New York Community Bancorp from $12.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Wedbush reissued a “neutral” rating and issued a $31.50 price target on shares of New York Community Bancorp in a research report on Friday, July 26th. StockNews.com raised shares of New York Community Bancorp to a “sell” rating in a research report on Friday, July 19th. Keefe, Bruyette & Woods lifted their price target on shares of New York Community Bancorp from $11.25 to $33.75 and gave the company a “market perform” rating in a research report on Monday, July 15th. Finally, Citigroup lifted their price target on shares of New York Community Bancorp from $10.50 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, New York Community Bancorp currently has an average rating of “Hold” and an average price target of $18.91.

New York Community Bancorp Price Performance

Shares of NYCB opened at $11.92 on Tuesday. The firm has a market cap of $3.26 billion, a PE ratio of 397.33 and a beta of 1.00. The firm’s 50 day moving average price is $15.86 and its 200 day moving average price is $11.95. The company has a debt-to-equity ratio of 3.66, a quick ratio of 1.17 and a current ratio of 1.27. New York Community Bancorp has a twelve month low of $5.10 and a twelve month high of $35.04.

New York Community Bancorp (NYSE:NYCB) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported ($3.15) earnings per share for the quarter, missing the consensus estimate of ($1.26) by ($1.89). The business had revenue of $671.00 million for the quarter, compared to the consensus estimate of $722.47 million. New York Community Bancorp had a negative net margin of 10.78% and a negative return on equity of 4.49%. New York Community Bancorp’s revenue was down 44.2% compared to the same quarter last year. During the same period in the previous year, the business posted $4.23 EPS. As a group, research analysts expect that New York Community Bancorp will post -2.43 EPS for the current fiscal year.

Institutional Trading of New York Community Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legacy Capital Group California Inc. increased its stake in New York Community Bancorp by 1.2% in the second quarter. Legacy Capital Group California Inc. now owns 81,618 shares of the financial services provider’s stock valued at $263,000 after acquiring an additional 934 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its stake in New York Community Bancorp by 6.2% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 19,642 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 1,146 shares during the period. CIBC Asset Management Inc increased its stake in New York Community Bancorp by 7.6% in the second quarter. CIBC Asset Management Inc now owns 20,405 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 1,436 shares during the period. Family Asset Management LLC increased its stake in New York Community Bancorp by 9.2% in the second quarter. Family Asset Management LLC now owns 18,010 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 1,510 shares during the period. Finally, ProShare Advisors LLC increased its stake in New York Community Bancorp by 4.4% in the second quarter. ProShare Advisors LLC now owns 36,769 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 1,544 shares during the period. Institutional investors 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.