New York Community Bancorp (NYSE:NYCB) Rating Increased to Overweight at Barclays

New York Community Bancorp (NYSE:NYCB) was upgraded by analysts at Barclays from an “equal weight” rating to an “overweight” rating in a note issued to investors on Thursday, Marketbeat.com reports. The brokerage currently has a $14.00 price objective on the financial services provider’s stock, up from their prior price objective of $10.00. Barclays‘s price target suggests a potential upside of 22.16% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Keefe, Bruyette & Woods upped their price target on 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. 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 shares of New York Community Bancorp to a “sell” rating in a research note on Friday, July 19th. Wedbush restated a “neutral” rating and set a $31.50 price objective on shares of New York Community Bancorp in a research report on Friday, July 26th. Finally, Citigroup lifted their target price on shares of New York Community Bancorp from $3.50 to $4.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.70.

New York Community Bancorp Stock Performance

Shares of New York Community Bancorp stock opened at $11.46 on Thursday. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 382.00 and a beta of 1.00. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.27 and a quick ratio of 1.17. New York Community Bancorp has a 1 year low of $5.10 and a 1 year high of $34.50. The firm’s 50-day moving average is $13.74 and its 200 day moving average is $7.78.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported ($3.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.26) by ($1.89). New York Community Bancorp had a negative net margin of 10.78% and a negative return on equity of 4.49%. The firm had revenue of $671.00 million for the quarter, compared to analysts’ expectations of $722.47 million. During the same quarter in the previous year, the company earned $4.23 EPS. The company’s quarterly revenue was down 44.2% compared to the same quarter last year. Sell-side analysts anticipate that New York Community Bancorp will post -2.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NYCB. Bank of New York Mellon Corp raised its stake in New York Community Bancorp by 9.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 9,654,656 shares of the financial services provider’s stock worth $31,088,000 after acquiring an additional 844,785 shares during the period. Kahn Brothers Group Inc. lifted its stake in shares of New York Community Bancorp by 0.9% during the 1st quarter. Kahn Brothers Group Inc. now owns 6,213,289 shares of the financial services provider’s stock valued at $20,007,000 after buying an additional 53,275 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in New York Community Bancorp by 995.2% in the 2nd quarter. Renaissance Technologies LLC now owns 4,116,786 shares of the financial services provider’s stock worth $13,256,000 after buying an additional 3,740,900 shares during the period. First Trust Advisors LP increased its stake in New York Community Bancorp by 0.8% in the 4th quarter. First Trust Advisors LP now owns 3,318,902 shares of the financial services provider’s stock worth $33,952,000 after buying an additional 25,736 shares in the last quarter. Finally, Private Management Group Inc. raised its holdings in New York Community Bancorp by 69.4% during the second quarter. Private Management Group Inc. now owns 3,216,505 shares of the financial services provider’s stock valued at $10,357,000 after acquiring an additional 1,317,391 shares during the period. 67.88% of the stock is owned by hedge funds and other institutional investors.

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.