New York Community Bancorp (NYCB) Rating Increased to Neutral at B. Riley

New York Community Bancorp (NYSE:NYCB) was upgraded by stock analysts at B. Riley from a “sell” rating to a “neutral” rating in a research note issued on Monday, Marketbeat reports. The firm presently has a $13.00 price objective on the financial services provider’s stock, up from their previous price objective of $12.00. B. Riley’s price target would indicate a potential downside of 3.27% from the company’s current price.

Several other research firms have also recently issued reports on NYCB. Morgan Stanley boosted their target price on New York Community Bancorp from $14.00 to $14.75 and gave the company an “equal weight” rating in a research note on Thursday, February 1st. ValuEngine cut New York Community Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, February 3rd. Zacks Investment Research cut New York Community Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, February 3rd. TheStreet cut New York Community Bancorp from a “b-” rating to a “c+” rating in a research note on Tuesday, January 16th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $14.00 price target on shares of New York Community Bancorp in a research note on Friday, December 22nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $13.22.

New York Community Bancorp (NYSE:NYCB) traded up $0.02 on Monday, hitting $13.44. The stock had a trading volume of 6,024,560 shares, compared to its average volume of 4,780,000. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 2.05. New York Community Bancorp has a 52-week low of $11.67 and a 52-week high of $15.59. The stock has a market capitalization of $6,570.00, a PE ratio of 14.93, a PEG ratio of 1.60 and a beta of 0.65.

New York Community Bancorp (NYSE:NYCB) last posted its earnings results on Wednesday, January 31st. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. New York Community Bancorp had a return on equity of 6.81% and a net margin of 25.91%. The firm had revenue of $296.32 million for the quarter, compared to analysts’ expectations of $300.29 million. analysts forecast that New York Community Bancorp will post 0.85 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in NYCB. Janus Henderson Group PLC boosted its holdings in New York Community Bancorp by 141.2% in the second quarter. Janus Henderson Group PLC now owns 168,156 shares of the financial services provider’s stock worth $2,208,000 after acquiring an additional 98,442 shares in the last quarter. Gotham Asset Management LLC boosted its holdings in New York Community Bancorp by 6.6% in the second quarter. Gotham Asset Management LLC now owns 28,852 shares of the financial services provider’s stock worth $379,000 after acquiring an additional 1,794 shares in the last quarter. State Street Corp boosted its holdings in New York Community Bancorp by 1.8% in the second quarter. State Street Corp now owns 21,898,657 shares of the financial services provider’s stock worth $287,534,000 after acquiring an additional 376,921 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in New York Community Bancorp by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 724,416 shares of the financial services provider’s stock worth $9,511,000 after acquiring an additional 13,201 shares in the last quarter. Finally, Verition Fund Management LLC bought a new stake in New York Community Bancorp in the second quarter worth $203,000. 59.13% of the stock is currently owned by institutional investors and hedge funds.

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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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