New York Community Bancorp (NYSE:NYCB) Upgraded by Barclays to Overweight

New York Community Bancorp (NYSE:NYCB) was upgraded by equities research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a report issued on Thursday, Briefing.com reports. The firm currently has a $14.00 price objective on the financial services provider’s stock. Barclays‘s price objective points to a potential upside of 31.33% from the stock’s previous close.

NYCB has been the subject of a number of other reports. Raymond James raised shares of New York Community Bancorp from an “underperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. StockNews.com upgraded New York Community Bancorp to a “sell” rating in a report on Friday, July 19th. Keefe, Bruyette & Woods increased their price objective on New York Community Bancorp from $11.25 to $33.75 and gave the stock a “market perform” rating in a report on Monday, July 15th. Citigroup increased their price objective on New York Community Bancorp from $3.50 to $4.00 and gave the stock a “neutral” rating in a report on Wednesday, July 3rd. Finally, Wedbush restated a “neutral” rating and issued a $31.50 price objective on shares of New York Community Bancorp in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.70.

New York Community Bancorp Price Performance

NYCB stock opened at $10.66 on Thursday. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 3.66. New York Community Bancorp has a one year low of $5.10 and a one year high of $34.92. The firm has a market capitalization of $3.97 billion, a PE ratio of 355.33 and a beta of 1.00. The firm has a 50-day moving average of $14.18 and a two-hundred day moving average of $7.75.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported ($3.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.26) by ($1.89). The company had revenue of $671.00 million during the quarter, compared to analysts’ expectations of $722.47 million. New York Community Bancorp had a negative return on equity of 4.49% and a negative net margin of 10.78%. New York Community Bancorp’s revenue for the quarter was down 44.2% compared to the same quarter last year. During the same period last year, the company earned $4.23 earnings per share. On average, analysts forecast that New York Community Bancorp will post -2.43 earnings per share for the current year.

Institutional Trading of New York Community Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in NYCB. Quarry LP increased its stake in shares of New York Community Bancorp by 585.5% in the 4th quarter. Quarry LP now owns 4,031 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 3,443 shares during the last quarter. Vima LLC bought a new stake in shares of New York Community Bancorp in the 4th quarter valued at about $65,000. Versant Capital Management Inc increased its stake in shares of New York Community Bancorp by 3,583.0% in the 1st quarter. Versant Capital Management Inc now owns 8,250 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 8,026 shares during the last quarter. Hantz Financial Services Inc. bought a new stake in shares of New York Community Bancorp in the 2nd quarter valued at about $28,000. Finally, AlphaMark Advisors LLC increased its stake in shares of 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 during the last quarter. 67.88% of the stock is owned by 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.