New York Community Bancorp (NYSE:NYCB – Get Free Report) had its target price increased by investment analysts at JPMorgan Chase & Co. from $11.50 to $12.50 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 13.64% from the company’s previous close.
Several other research firms have also recently weighed in on NYCB. Wedbush reissued a “neutral” rating and set a $31.50 price target on shares of New York Community Bancorp in a report on Friday, July 26th. Raymond James raised shares of New York Community Bancorp from an “underperform” rating to a “market perform” rating in a report on Tuesday, September 17th. StockNews.com upgraded New York Community Bancorp to a “sell” rating in a research report on Friday, July 19th. Barclays raised shares of New York Community Bancorp from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $10.00 to $14.00 in a research report on Thursday, September 26th. Finally, Keefe, Bruyette & Woods raised their target price on shares of New York Community Bancorp from $11.25 to $33.75 and gave the company a “market perform” rating in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $17.48.
Check Out Our Latest Stock Analysis on NYCB
New York Community Bancorp Stock Up 1.8 %
New York Community Bancorp (NYSE:NYCB – Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported ($3.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.26) by ($1.89). The business had revenue of $671.00 million during the quarter, compared to analyst estimates of $722.47 million. New York Community Bancorp had a negative net margin of 10.78% and a negative return on equity of 4.49%. The business’s quarterly revenue was down 44.2% on a year-over-year basis. During the same period in the previous year, the business earned $4.23 earnings per share. On average, equities research analysts forecast that New York Community Bancorp will post -2.43 earnings per share for the current year.
Institutional Investors Weigh In On New York Community Bancorp
A number of institutional investors have recently modified their holdings of NYCB. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in New York Community Bancorp during the second quarter worth approximately $2,879,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of New York Community Bancorp in the second quarter worth approximately $70,000. Sanctuary Advisors LLC purchased a new position in New York Community Bancorp during the 2nd quarter worth $68,000. Cetera Investment Advisers boosted its stake in shares of New York Community Bancorp by 24.1% in the 2nd quarter. Cetera Investment Advisers now owns 385,449 shares of the financial services provider’s stock worth $1,241,000 after buying an additional 74,811 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of New York Community Bancorp by 279.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 740,521 shares of the financial services provider’s stock worth $2,384,000 after buying an additional 545,321 shares during the last quarter. 67.88% of the stock is owned by institutional investors.
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.
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