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

Equities researchers at StockNews.com assumed coverage on shares of New York Community Bancorp (NYSE:NYCB) in a note issued to investors on Thursday. The brokerage set a “sell” rating on the financial services provider’s stock.

Several other research firms have also issued reports on NYCB. Barclays upgraded shares of New York Community Bancorp from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $10.00 to $14.00 in a report on Thursday, September 26th. JPMorgan Chase & Co. upped their target price on New York Community Bancorp from $11.50 to $12.50 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Raymond James upgraded New York Community Bancorp from an “underperform” rating to a “market perform” rating in a report on Tuesday, September 17th. Finally, Wedbush restated a “neutral” rating and set a $31.50 price target on shares of New York Community Bancorp in a report on Friday, July 26th. 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’s stock. According to data from MarketBeat.com, New York Community Bancorp currently has an average rating of “Hold” and an average target price of $17.48.

New York Community Bancorp Price Performance

The firm has a market capitalization of $4.38 billion, a P/E ratio of -2.42 and a beta of 1.00. The company has a quick ratio of 1.11, a current ratio of 1.14 and a debt-to-equity ratio of 2.52. New York Community Bancorp has a 1-year low of $5.10 and a 1-year high of $34.47. The firm has a fifty day moving average of $11.07 and a two-hundred day moving average of $12.22.

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

Institutional Investors Weigh In On New York Community Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legacy Capital Group California Inc. raised its position in New York Community Bancorp by 1.2% in the second quarter. Legacy Capital Group California Inc. now owns 81,618 shares of the financial services provider’s stock worth $263,000 after acquiring an additional 934 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its stake in New York Community Bancorp by 6.2% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 19,642 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 1,146 shares during the last quarter. CIBC Asset Management Inc grew its holdings in New York Community Bancorp by 7.6% during the second quarter. CIBC Asset Management Inc now owns 20,405 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 1,436 shares during the period. Family Asset Management LLC increased its position in New York Community Bancorp by 9.2% in the second quarter. Family Asset Management LLC now owns 18,010 shares of the financial services provider’s stock worth $58,000 after buying an additional 1,510 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of New York Community Bancorp by 4.4% in the second quarter. ProShare Advisors LLC now owns 36,769 shares of the financial services provider’s stock valued at $118,000 after buying an additional 1,544 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.