New York Community Bancorp (NYSE:NYCB) Stock Rating Upgraded by Zacks Investment Research

New York Community Bancorp (NYSE:NYCB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, December 27th.

According to Zacks, “New York Community Bancorp, Inc. is a leading producer of multi-family loans in New York City, with an emphasis on apartment buildings that feature below-market rents. The Company has two bank subsidiaries: New York Community Bank, with 178 branches serving customers throughout Metro New York and New Jersey; and New York Commercial Bank, with 36 branches serving customers in Manhattan, Queens, Brooklyn, Long Island, and Westchester County in New York. Reflecting its growth through a series of acquisitions, the Community Bank operates through five local divisions: Queens County Savings Bank in Queens, Roslyn Savings Bank on Long Island, Richmond County Savings Bank on Staten Island, Roosevelt Savings Bank in Brooklyn, and Garden State Community Bank in New Jersey. Similarly, the Commercial Bank operates 17 of its branches under the name Atlantic Bank. “

Several other equities analysts have also recently weighed in on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $14.00 target price on shares of New York Community Bancorp in a research note on Friday, December 22nd. Royal Bank of Canada began coverage on New York Community Bancorp in a research note on Thursday, December 21st. They set a “sector perform” rating and a $13.00 target price on the stock. TheStreet raised New York Community Bancorp from a “c” rating to a “b-” rating in a research note on Friday, December 15th. ValuEngine raised New York Community Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, BidaskClub raised New York Community Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, November 15th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $13.11.

Shares of New York Community Bancorp (NYCB) opened at $13.64 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. The stock has a market capitalization of $6,670.00, a PE ratio of 15.68 and a beta of 0.59. New York Community Bancorp has a twelve month low of $11.67 and a twelve month high of $16.18.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $313.64 million. During the same quarter in the previous year, the company earned $0.26 EPS. equities analysts expect that New York Community Bancorp will post 0.68 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of NYCB. Schwab Charles Investment Management Inc. lifted its holdings in New York Community Bancorp by 4.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,568,222 shares of the financial services provider’s stock worth $20,591,000 after purchasing an additional 70,973 shares during the last quarter. Legal & General Group Plc lifted its holdings in New York Community Bancorp by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 2,575,938 shares of the financial services provider’s stock worth $33,823,000 after purchasing an additional 39,629 shares during the last quarter. BB&T Securities LLC acquired a new stake in New York Community Bancorp in the 2nd quarter worth approximately $135,000. GAM Holding AG lifted its holdings in New York Community Bancorp by 50.6% in the 2nd quarter. GAM Holding AG now owns 31,920 shares of the financial services provider’s stock worth $419,000 after purchasing an additional 10,720 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in New York Community Bancorp by 2.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,339,621 shares of the financial services provider’s stock worth $17,589,000 after purchasing an additional 38,295 shares during the last quarter. Hedge funds and other institutional investors own 58.44% of the company’s stock.

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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.

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

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