New York Community Bancorp (NYSE:NYCB) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.
A number of other research firms have also weighed in on NYCB. BidaskClub lowered New York Community Bancorp from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Barclays lowered their target price 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. Zacks Investment Research lowered New York Community Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, November 23rd. FBR & Co restated a “sell” rating on shares of New York Community Bancorp in a report on Wednesday, October 25th. Finally, Piper Jaffray Companies restated a “sell” rating and set a $11.00 target price on shares of New York Community Bancorp in a report on Tuesday, October 24th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $12.45.
Shares of New York Community Bancorp (NYSE:NYCB) traded down $0.08 during trading hours on Friday, reaching $13.26. The company had a trading volume of 5,100,400 shares, compared to its average volume of 4,292,398. New York Community Bancorp has a 52 week low of $11.67 and a 52 week high of $17.68. The company has a market capitalization of $6,523.99, a PE ratio of 15.33 and a beta of 0.58. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.41 and a current ratio of 1.41.
Institutional investors and hedge funds have recently modified their holdings of the company. Chicago Partners Investment Group LLC purchased a new stake in shares of New York Community Bancorp during the 3rd quarter valued at $103,000. Pacer Advisors Inc. raised its stake in New York Community Bancorp by 8.3% in the 2nd quarter. Pacer Advisors Inc. now owns 10,168 shares of the financial services provider’s stock worth $134,000 after acquiring an additional 779 shares during the last quarter. Sigma Planning Corp purchased a new position in New York Community Bancorp in the 2nd quarter worth $135,000. BB&T Securities LLC purchased a new position in New York Community Bancorp in the 2nd quarter worth $135,000. Finally, Hartford Investment Management Co. purchased a new position in New York Community Bancorp in the 2nd quarter worth $138,000. Hedge funds and other institutional investors own 58.49% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This piece was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another domain, it was illegally stolen and reposted in violation of US & international copyright legislation. The original version of this piece can be accessed at https://www.americanbankingnews.com/2017/12/02/new-york-community-bancorp-nycb-upgraded-to-buy-at-valuengine.html.
New York Community Bancorp Company Profile
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for New York Community Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New York Community Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.