New York Community Bancorp (NYSE:NYCB) was upgraded by investment analysts at B. Riley from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a $12.00 price target on the financial services provider’s stock. B. Riley’s price objective indicates a potential upside of 14.07% from the company’s previous close.
Other equities analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 2nd. TheStreet raised shares of SUMMIT THERAPEU/S from a “d” rating to a “c-” rating in a research note on Thursday, June 13th. Finally, Jefferies Financial Group lifted their target price on shares of Las Vegas Sands from $57.00 to $69.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $12.28.
NYSE:NYCB opened at $10.52 on Thursday. The stock has a 50-day simple moving average of $9.99. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 2.16. The stock has a market capitalization of $4.82 billion, a P/E ratio of 13.23, a P/E/G ratio of 1.34 and a beta of 0.98. New York Community Bancorp has a twelve month low of $8.61 and a twelve month high of $12.72.
In other news, Director Hanif Dahya bought 1,640 shares of New York Community Bancorp stock in a transaction on Thursday, May 9th. The shares were bought at an average cost of $26.31 per share, with a total value of $43,148.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.31% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the business. Advisory Services Network LLC raised its stake in shares of New York Community Bancorp by 20.1% in the 4th quarter. Advisory Services Network LLC now owns 5,960 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 999 shares during the period. 6 Meridian raised its stake in shares of New York Community Bancorp by 2.3% in the 2nd quarter. 6 Meridian now owns 47,062 shares of the financial services provider’s stock valued at $470,000 after acquiring an additional 1,071 shares during the period. Cetera Advisor Networks LLC raised its stake in shares of New York Community Bancorp by 4.7% in the 1st quarter. Cetera Advisor Networks LLC now owns 28,351 shares of the financial services provider’s stock valued at $331,000 after acquiring an additional 1,270 shares during the period. US Bancorp DE grew its holdings in shares of New York Community Bancorp by 3.6% in the first quarter. US Bancorp DE now owns 42,681 shares of the financial services provider’s stock valued at $494,000 after purchasing an additional 1,464 shares in the last quarter. Finally, Joseph P. Lucia & Associates LLC acquired a new position in shares of New York Community Bancorp in the first quarter valued at approximately $125,000. 63.04% of the stock is currently owned by institutional investors.
About New York Community Bancorp
New York Community Bancorp, Inc operates as a bank holding company for New York Community Bank that provides banking products and services in Metro New York, New Jersey, Ohio, Florida, and Arizona. The company offers various deposit products, including interest-bearing checking and money market, savings, non-interest-bearing, and individual retirement accounts, as well as certificates of deposit.
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