Investment analysts at Royal Bank of Canada began coverage on shares of New York Community Bancorp (NYSE:NYCB) in a research note issued on Thursday. The firm set a “sector perform” rating and a $13.00 price target on the financial services provider’s stock. Royal Bank of Canada’s target price indicates a potential downside of 1.96% from the company’s current price.
Several other brokerages have also commented on NYCB. Zacks Investment Research lowered shares of New York Community Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. ValuEngine raised New York Community Bancorp from a “hold” rating to a “buy” rating in a report on Friday, December 1st. TheStreet raised New York Community Bancorp from a “c” rating to a “b-” rating in a report on Friday, December 15th. BidaskClub downgraded New York Community Bancorp from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Finally, Barclays decreased 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. Three analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $12.54.
Shares of New York Community Bancorp (NYSE NYCB) traded down $0.04 during trading on Thursday, reaching $13.26. 3,069,800 shares of the company’s stock traded hands, compared to its average volume of 4,059,706. The stock has a market capitalization of $6,504.42, a price-to-earnings ratio of 15.29 and a beta of 0.59. New York Community Bancorp has a one year low of $11.67 and a one year high of $16.47. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.41 and a quick ratio of 1.41.
Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of New York Community Bancorp by 2.3% during the second quarter. Vanguard Group Inc. now owns 40,770,549 shares of the financial services provider’s stock worth $535,317,000 after purchasing an additional 910,170 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of New York Community Bancorp by 33.8% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 27,831,006 shares of the financial services provider’s stock worth $358,742,000 after purchasing an additional 7,036,258 shares during the period. State Street Corp lifted its holdings in shares of New York Community Bancorp by 1.8% during the second quarter. State Street Corp now owns 21,898,657 shares of the financial services provider’s stock worth $287,534,000 after purchasing an additional 376,921 shares during the period. Alecta Pensionsforsakring Omsesidigt lifted its holdings in shares of New York Community Bancorp by 8.6% during the third quarter. Alecta Pensionsforsakring Omsesidigt now owns 11,400,000 shares of the financial services provider’s stock worth $146,946,000 after purchasing an additional 900,000 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of New York Community Bancorp by 6.7% during the second quarter. Renaissance Technologies LLC now owns 10,289,400 shares of the financial services provider’s stock worth $135,100,000 after purchasing an additional 642,723 shares during the period. 58.44% of the stock is owned by institutional investors and hedge funds.
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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.
