New York Community Bancorp (NYSE:NYCB) Lifted to “Hold” at BidaskClub

New York Community Bancorp (NYSE:NYCB) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Wednesday, November 15th.

Several other research firms have also recently issued reports on NYCB. Zacks Investment Research upgraded New York Community Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Barclays dropped their price target on New York Community Bancorp from $14.00 to $12.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 11th. FBR & Co reissued a “sell” rating on shares of New York Community Bancorp in a research note on Wednesday, October 25th. Finally, Piper Jaffray Companies reissued a “sell” rating and set a $11.00 price target on shares of New York Community Bancorp in a research note 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 given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $12.45.

Shares of New York Community Bancorp (NYSE:NYCB) opened at $13.26 on Wednesday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.41 and a current ratio of 1.41. New York Community Bancorp has a 1 year low of $11.67 and a 1 year high of $17.68. The stock has a market capitalization of $6,484.87, a PE ratio of 15.24 and a beta of 0.58.

New York Community Bancorp (NYSE:NYCB) last released its earnings results on Wednesday, October 25th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.04. New York Community Bancorp had a return on equity of 7.17% and a net margin of 24.22%. The firm had revenue of $385.27 million during the quarter, compared to analysts’ expectations of $313.64 million. During the same quarter last year, the business posted $0.26 earnings per share. analysts forecast that New York Community Bancorp will post 0.68 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the company. Chicago Partners Investment Group LLC bought a new stake in shares of New York Community Bancorp in the 3rd quarter valued at approximately $103,000. Pacer Advisors Inc. lifted its stake in shares of 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 valued at $134,000 after purchasing an additional 779 shares during the last quarter. Sigma Planning Corp bought a new stake in shares of New York Community Bancorp in the 2nd quarter valued at approximately $135,000. BB&T Securities LLC bought a new stake in shares of New York Community Bancorp in the 2nd quarter valued at approximately $135,000. Finally, Hartford Investment Management Co. bought a new stake in shares of New York Community Bancorp in the 2nd quarter valued at approximately $138,000. 58.49% of the stock is 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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