New York Community Bancorp (NYSE:NYCB) Coverage Initiated by Analysts at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of New York Community Bancorp (NYSE:NYCB) in a research note issued on Friday. The firm set a “sell” rating on the financial services provider’s stock.

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

New York Community Bancorp Price Performance

The company’s 50 day simple moving average is $11.06 and its two-hundred day simple moving average is $12.24. New York Community Bancorp has a 12-month low of $5.10 and a 12-month high of $34.47. The company has a quick ratio of 1.11, a current ratio of 1.14 and a debt-to-equity ratio of 2.52. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of -2.42 and a beta of 1.00.

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

Institutional Investors Weigh In On New York Community Bancorp

Hedge funds have recently modified their holdings of the business. Sei Investments Co. boosted its position in New York Community Bancorp by 32.4% during the first quarter. Sei Investments Co. now owns 352,908 shares of the financial services provider’s stock valued at $1,136,000 after purchasing an additional 86,355 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of New York Community Bancorp by 6.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 588,329 shares of the financial services provider’s stock worth $1,889,000 after buying an additional 35,264 shares during the last quarter. Pitcairn Co. raised its stake in shares of New York Community Bancorp by 307.0% during the 1st quarter. Pitcairn Co. now owns 70,066 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 52,851 shares in the last quarter. Axxcess Wealth Management LLC lifted its position in New York Community Bancorp by 67.2% during the first quarter. Axxcess Wealth Management LLC now owns 32,340 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 13,000 shares during the last quarter. Finally, Alpine Global Management LLC acquired a new stake in New York Community Bancorp in the first quarter valued at approximately $167,000. Hedge funds and other 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.