New York Community Bancorp, Inc. (NYSE:NYCB) had its target price dropped by equities researchers at Barclays PLC from $14.00 to $12.00 in a note issued to investors on Wednesday. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays PLC’s price target would indicate a potential downside of 6.90% from the company’s current price.

NYCB has been the topic of several other research reports. BidaskClub raised New York Community Bancorp from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Piper Jaffray Companies reaffirmed a “sell” rating and set a $11.00 target price on shares of New York Community Bancorp in a research note on Tuesday, September 19th. Morgan Stanley reaffirmed an “equal weight” rating and set 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, Zacks Investment Research downgraded New York Community Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, September 27th. Three equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $12.88.

New York Community Bancorp (NYSE NYCB) traded down 0.31% during midday trading on Wednesday, hitting $12.85. The stock had a trading volume of 2,472,427 shares. New York Community Bancorp has a one year low of $11.67 and a one year high of $17.68. The firm has a market cap of $6.28 billion, a PE ratio of 13.97 and a beta of 0.58. The stock has a 50-day moving average price of $12.38 and a 200 day moving average price of $12.95.

New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03. The business had revenue of $338.21 million for the quarter, compared to the consensus estimate of $326.36 million. New York Community Bancorp had a return on equity of 7.46% and a net margin of 25.67%. During the same quarter last year, the business posted $0.26 EPS. On average, analysts predict that New York Community Bancorp will post $0.78 earnings per share for the current year.

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Institutional investors have recently made changes to their positions in the business. Legal & General Group Plc raised its stake in New York Community Bancorp by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 2,575,938 shares of the financial services provider’s stock valued at $33,823,000 after acquiring an additional 39,629 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of New York Community Bancorp by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,260,906 shares of the financial services provider’s stock worth $82,205,000 after buying an additional 96,814 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of New York Community Bancorp by 2.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,339,621 shares of the financial services provider’s stock worth $17,589,000 after buying an additional 38,295 shares in the last quarter. Brookstone Capital Management bought a new stake in shares of New York Community Bancorp in the 2nd quarter worth $288,000. Finally, Principal Financial Group Inc. raised its stake in shares of New York Community Bancorp by 4.0% in the 2nd quarter. Principal Financial Group Inc. now owns 2,053,064 shares of the financial services provider’s stock worth $26,956,000 after buying an additional 78,689 shares in the last quarter. 57.49% of the stock is currently owned by hedge funds and other institutional investors.

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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