StockNews.com Begins Coverage on New York Community Bancorp (NYSE:NYCB)

Research analysts at StockNews.com assumed coverage on shares of New York Community Bancorp (NYSE:NYCB) in a report released on Wednesday. The brokerage set a “sell” rating on the financial services provider’s stock.

NYCB has been the topic of several other reports. Keefe, Bruyette & Woods lifted their target price on New York Community Bancorp from $11.25 to $33.75 and gave the company a “market perform” rating in a research report on Monday, July 15th. Barclays upgraded New York Community Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $10.00 to $14.00 in a research note on Thursday, September 26th. JPMorgan Chase & Co. raised their target price on shares of New York Community Bancorp from $11.50 to $12.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Raymond James upgraded shares of New York Community Bancorp from an “underperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. Finally, Wedbush restated a “neutral” rating and set a $31.50 price objective on shares of New York Community Bancorp in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, New York Community Bancorp has a consensus rating of “Hold” and a consensus price target of $17.48.

New York Community Bancorp Stock Performance

The stock has a 50-day moving average price of $11.08 and a 200-day moving average price of $12.22. The stock has a market capitalization of $4.38 billion, a PE ratio of -2.42 and a beta of 1.00. New York Community Bancorp has a 12-month low of $5.10 and a 12-month high of $34.47. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.14 and a quick ratio of 1.11.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings data on Friday, October 25th. The financial services provider reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.29). New York Community Bancorp had a negative return on equity of 11.35% and a negative net margin of 18.40%. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $621.72 million. During the same period in the previous year, the business posted $1.08 EPS. As a group, equities analysts forecast that New York Community Bancorp will post -3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AlphaMark Advisors LLC boosted its holdings in shares of New York Community Bancorp by 26.0% in the 2nd quarter. AlphaMark Advisors LLC now owns 8,734 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 1,803 shares during the period. Hantz Financial Services Inc. purchased a new position in New York Community Bancorp during the second quarter worth $28,000. Carmichael Hill & Associates Inc. boosted its stake in New York Community Bancorp by 201.0% during the second quarter. Carmichael Hill & Associates Inc. now owns 9,029 shares of the financial services provider’s stock worth $29,000 after buying an additional 6,029 shares during the period. Allworth Financial LP bought a new position in New York Community Bancorp during the third quarter valued at $29,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of New York Community Bancorp by 4,665.0% in the second quarter. Nisa Investment Advisors LLC now owns 9,530 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 9,330 shares during the period. Hedge funds and other institutional investors own 67.88% of the company’s stock.

New York Community Bancorp Company Profile

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.