New York Community Bancorp (NYSE:NYCB) Price Target Increased to $11.25 by Analysts at Keefe, Bruyette & Woods

New York Community Bancorp (NYSE:NYCB) had its price target boosted by stock analysts at Keefe, Bruyette & Woods from $3.75 to $11.25 in a report released on Monday, Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 9.01% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. StockNews.com upgraded New York Community Bancorp to a “sell” rating in a report on Monday, April 29th. Piper Sandler upgraded New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $4.00 price target on the stock in a report on Wednesday, May 1st. Citigroup increased their price target on New York Community Bancorp from $3.50 to $4.00 and gave the stock a “neutral” rating in a report on Wednesday, July 3rd. Wedbush upgraded New York Community Bancorp from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $3.00 to $3.50 in a report on Wednesday, May 1st. Finally, Barclays reduced their price target on New York Community Bancorp from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.38.

New York Community Bancorp Trading Down 6.3 %

NYCB stock traded down $0.69 during midday trading on Monday, reaching $10.32. 5,024,779 shares of the company traded hands, compared to its average volume of 9,220,399. New York Community Bancorp has a 52-week low of $5.10 and a 52-week high of $42.66. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.26 and a current ratio of 1.27. The business has a 50 day moving average of $3.48 and a 200-day moving average of $4.80. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 347.00 and a beta of 0.99.

New York Community Bancorp’s stock is set to reverse split before the market opens on Wednesday, July 31st. The 1-3 reverse split was announced on Thursday, June 27th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, July 30th.

New York Community Bancorp (NYSE:NYCB) last issued its quarterly earnings data on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. New York Community Bancorp had a return on equity of 2.91% and a net margin of 0.62%. The business had revenue of $633.00 million for the quarter, compared to the consensus estimate of $776.81 million. During the same period in the prior year, the business posted $0.23 earnings per share. The company’s quarterly revenue was down 76.1% compared to the same quarter last year. As a group, sell-side analysts expect that New York Community Bancorp will post -1.48 earnings per share for the current fiscal year.

Institutional Trading of New York Community Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in New York Community Bancorp during the 4th quarter valued at $77,628,000. Kahn Brothers Group Inc. boosted its position in shares of New York Community Bancorp by 0.9% in the 1st quarter. Kahn Brothers Group Inc. now owns 6,213,289 shares of the financial services provider’s stock worth $20,007,000 after purchasing an additional 53,275 shares in the last quarter. Cannell & Co. boosted its position in shares of New York Community Bancorp by 12.3% in the 4th quarter. Cannell & Co. now owns 4,574,137 shares of the financial services provider’s stock worth $46,793,000 after purchasing an additional 500,545 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of New York Community Bancorp by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,553,207 shares of the financial services provider’s stock worth $46,579,000 after purchasing an additional 33,122 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of New York Community Bancorp by 0.8% in the 4th quarter. First Trust Advisors LP now owns 3,318,902 shares of the financial services provider’s stock worth $33,952,000 after purchasing an additional 25,736 shares in the last quarter. Institutional investors own 67.88% of the company’s stock.

About New York Community Bancorp

New York Community Bancorp, Inc operates as the bank holding company for Flagstar Bank, N.A. that provides banking products and services in the United States. The company's deposit products include interest-bearing checking and money market, savings, non-interest-bearing, and retirement accounts, as well as certificates of deposit.