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

Equities research analysts at StockNews.com began coverage on shares of New York Community Bancorp (NYSE:NYCB) in a research report issued to clients and investors on Friday. The firm set a “sell” rating on the financial services provider’s stock.

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

New York Community Bancorp Stock Performance

The company has a current ratio of 1.14, a quick ratio of 1.11 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 company has a market cap of $4.38 billion, a price-to-earnings ratio of -2.42 and a beta of 1.00. The stock has a fifty day simple moving average of $11.06 and a 200 day simple moving average of $12.24.

New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings results 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). 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 earned $1.08 EPS. As a group, equities analysts predict that New York Community Bancorp will post -3 EPS for the current year.

Hedge Funds Weigh In On New York Community Bancorp

Several large investors have recently added to or reduced their stakes in NYCB. AlphaMark Advisors LLC lifted its position in shares of New York Community Bancorp by 26.0% in the second quarter. AlphaMark Advisors LLC now owns 8,734 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 1,803 shares in the last quarter. Hantz Financial Services Inc. bought a new stake in New York Community Bancorp during the 2nd quarter valued at approximately $28,000. Carmichael Hill & Associates Inc. lifted its holdings in New York Community Bancorp by 201.0% in the 2nd quarter. Carmichael Hill & Associates Inc. now owns 9,029 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 6,029 shares in the last quarter. Allworth Financial LP bought a new position in New York Community Bancorp in the 3rd quarter worth approximately $29,000. Finally, Nisa Investment Advisors LLC grew its holdings in New York Community Bancorp by 4,665.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,530 shares of the financial services provider’s stock valued at $31,000 after buying an additional 9,330 shares in the last quarter. Hedge funds and other 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.