New York Community Bancorp, Inc. (NYCB) Downgraded by BidaskClub to Sell

New York Community Bancorp, Inc. (NYSE:NYCB) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Thursday, October 26th.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded New York Community Bancorp from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 30th. Barclays PLC cut their price objective on New York Community Bancorp from $14.00 to $12.00 and set an “equal weight” rating for the company in a report on Wednesday, October 11th. Piper Jaffray Companies reiterated a “sell” rating and issued a $11.00 price objective on shares of New York Community Bancorp in a research report on Tuesday, October 24th. Morgan Stanley restated an “equal weight” rating and issued a $13.75 target price (down previously from $14.00) on shares of New York Community Bancorp in a research note on Friday, July 7th. Finally, FBR & Co reiterated a “sell” rating on shares of New York Community Bancorp in a research note on Wednesday, October 25th. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $12.45.

New York Community Bancorp (NYSE:NYCB) traded up $0.66 during midday trading on Thursday, hitting $12.78. 9,870,200 shares of the company were exchanged, compared to its average volume of 4,007,345. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.41 and a quick ratio of 1.41. New York Community Bancorp has a 1 year low of $11.67 and a 1 year high of $17.68. The stock has a market cap of $5,927.34, a P/E ratio of 13.93 and a beta of 0.57.

New York Community Bancorp (NYSE:NYCB) last posted its earnings results on Wednesday, October 25th. The financial services provider reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. New York Community Bancorp had a net margin of 24.22% and a return on equity of 7.17%. The business had revenue of $385.27 million for the quarter, compared to analysts’ expectations of $313.64 million. During the same period in the previous year, the company posted $0.26 earnings per share. equities analysts expect that New York Community Bancorp will post 0.68 earnings per share for the current year.

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Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of New York Community Bancorp by 107.3% in the first quarter. JPMorgan Chase & Co. now owns 307,586 shares of the financial services provider’s stock valued at $4,296,000 after buying an additional 159,206 shares during the period. Dimensional Fund Advisors LP lifted its stake in New York Community Bancorp by 26.8% during the first quarter. Dimensional Fund Advisors LP now owns 3,793,146 shares of the financial services provider’s stock worth $52,997,000 after purchasing an additional 802,152 shares during the last quarter. Amalgamated Bank lifted its stake in New York Community Bancorp by 7.2% during the first quarter. Amalgamated Bank now owns 32,999 shares of the financial services provider’s stock worth $461,000 after purchasing an additional 2,220 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in New York Community Bancorp by 4.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,497,249 shares of the financial services provider’s stock worth $20,917,000 after purchasing an additional 68,657 shares during the last quarter. Finally, Gotham Asset Management LLC bought a new stake in New York Community Bancorp during the first quarter worth about $378,000. Institutional investors and hedge funds own 57.88% of the company’s stock.

About New York Community Bancorp

New York Community Bancorp, Inc is a multi-bank holding company. The Company operates through its subsidiaries, New York Community Bank (the Community Bank) and New York Commercial Bank (the Commercial Bank) (collectively, the Banks). The Company’s operations are divided into two segments: Banking Operations and Residential Mortgage Banking.

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

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