Royal Bank of Canada Initiates Coverage on New York Community Bancorp (NYSE:NYCB)

Equities research analysts at Royal Bank of Canada began coverage on shares of New York Community Bancorp (NYSE:NYCB) in a note issued to investors on Friday, The Fly reports. The firm set an “outperform” rating on the financial services provider’s stock.

Several other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 2nd. B. Riley set a $75.00 price target on shares of Comerica and gave the stock a “hold” rating in a research note on Thursday. TheStreet raised shares of SUMMIT THERAPEU/S from a “d” rating to a “c-” rating in a research note on Thursday, June 13th. Finally, Jefferies Financial Group lifted their price target on shares of Las Vegas Sands from $57.00 to $69.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Three analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $12.17.

Shares of New York Community Bancorp stock opened at $10.32 on Friday. New York Community Bancorp has a 1 year low of $8.61 and a 1 year high of $12.72. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 1.33 and a beta of 0.98. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 2.16. The company’s 50 day moving average is $9.98.

New York Community Bancorp (NYSE:NYCB) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. New York Community Bancorp had a net margin of 22.65% and a return on equity of 6.65%. The business had revenue of $266.11 million during the quarter, compared to analyst estimates of $268.24 million. During the same period in the previous year, the business posted $0.20 earnings per share. New York Community Bancorp’s revenue for the quarter was down 9.2% on a year-over-year basis. Analysts anticipate that New York Community Bancorp will post 0.77 EPS for the current year.

In other news, Director Hanif Dahya bought 1,640 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were bought at an average cost of $26.31 per share, with a total value of $43,148.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.31% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in New York Community Bancorp by 7.7% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 41,199,922 shares of the financial services provider’s stock valued at $387,691,000 after acquiring an additional 2,960,395 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in New York Community Bancorp by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,340,979 shares of the financial services provider’s stock valued at $97,303,000 after acquiring an additional 292,953 shares in the last quarter. Geode Capital Management LLC boosted its holdings in New York Community Bancorp by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 5,174,238 shares of the financial services provider’s stock valued at $48,816,000 after acquiring an additional 382,396 shares in the last quarter. Norges Bank bought a new stake in New York Community Bancorp in the fourth quarter valued at $41,015,000. Finally, Parametric Portfolio Associates LLC boosted its holdings in New York Community Bancorp by 5.4% in the first quarter. Parametric Portfolio Associates LLC now owns 2,220,593 shares of the financial services provider’s stock valued at $25,692,000 after acquiring an additional 113,977 shares in the last quarter. 63.04% of the stock is currently owned by institutional investors.

About New York Community Bancorp

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

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The Fly

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

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