New York Community Bancorp (NYCB) Lowered to Underweight at Barclays

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Barclays cut shares of New York Community Bancorp (NYSE:NYCB) from an equal weight rating to an underweight rating in a research note issued to investors on Thursday morning, Marketbeat Ratings reports.

NYCB has been the subject of several other reports. Zacks Investment Research restated a sell rating on shares of New York Community Bancorp in a research note on Wednesday, November 14th. Piper Jaffray Companies upgraded New York Community Bancorp from an underweight rating to a neutral rating and reduced their price objective for the stock from $10.00 to $9.00 in a research note on Friday, October 26th. B. Riley set a $11.00 price objective on New York Community Bancorp and gave the stock a hold rating in a research note on Monday, October 15th. UBS Group upgraded New York Community Bancorp from a sell rating to a neutral rating and upped their price objective for the stock from $9.50 to $10.00 in a research note on Tuesday, January 8th. Finally, Credit Suisse Group restated a hold rating and issued a $11.00 price objective on shares of New York Community Bancorp in a research note on Monday, January 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $11.85.

Shares of NYCB opened at $10.11 on Thursday. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 12.48, a P/E/G ratio of 1.27 and a beta of 0.74. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 2.20. New York Community Bancorp has a 1-year low of $8.61 and a 1-year high of $14.53.

New York Community Bancorp (NYSE:NYCB) last announced its earnings results on Wednesday, October 24th. The financial services provider reported $0.20 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.20. The business had revenue of $272.43 million during the quarter, compared to analyst estimates of $285.05 million. New York Community Bancorp had a net margin of 26.41% and a return on equity of 6.60%. During the same period in the previous year, the business earned $0.21 EPS. Sell-side analysts expect that New York Community Bancorp will post 0.79 earnings per share for the current year.

Several large investors have recently bought and sold shares of NYCB. Commonwealth Bank of Australia boosted its holdings in New York Community Bancorp by 17.7% in the 2nd quarter. Commonwealth Bank of Australia now owns 80,160 shares of the financial services provider’s stock worth $881,000 after buying an additional 12,046 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in New York Community Bancorp by 3.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 191,718 shares of the financial services provider’s stock worth $2,117,000 after buying an additional 5,514 shares during the period. Baird Financial Group Inc. boosted its holdings in New York Community Bancorp by 12.9% in the 2nd quarter. Baird Financial Group Inc. now owns 157,849 shares of the financial services provider’s stock worth $1,743,000 after buying an additional 17,991 shares during the period. OppenheimerFunds Inc. boosted its holdings in New York Community Bancorp by 8.6% in the 2nd quarter. OppenheimerFunds Inc. now owns 262,278 shares of the financial services provider’s stock worth $2,896,000 after buying an additional 20,737 shares during the period. Finally, BB&T Securities LLC boosted its holdings in New York Community Bancorp by 494.2% in the 2nd quarter. BB&T Securities LLC now owns 135,747 shares of the financial services provider’s stock worth $1,498,000 after buying an additional 112,901 shares during the period. Hedge funds and other institutional investors own 67.79% of the company’s stock.

About New York Community Bancorp

New York Community Bancorp, Inc operates as a holding company for New York Community Bank and New York Commercial Bank that offer banking products and financial services in Metro New York, New Jersey, Ohio, Florida, and Arizona. The company offers various deposit products that include checking and savings accounts, individual retirement accounts, certificates of deposit, NOW and money market accounts, and non-interest-bearing accounts.

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Analyst Recommendations for New York Community Bancorp (NYSE:NYCB)

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