BidaskClub Lowers New York Community Bancorp, Inc. (NYCB) to Strong Sell

New York Community Bancorp, Inc. (NYSE:NYCB) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Thursday.

NYCB has been the topic of several other reports. Stephens began coverage on New York Community Bancorp in a research note on Wednesday, April 5th. They set an “equal weight” rating on the stock. ValuEngine raised New York Community Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, May 11th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $13.50 target price on shares of New York Community Bancorp in a research note on Wednesday, April 26th. FBR & Co reduced their target price on New York Community Bancorp from $13.00 to $12.00 and set an “underperform” rating on the stock in a research note on Thursday, April 27th. Finally, FIG Partners reissued a “market-perform” rating on shares of New York Community Bancorp in a research note on Tuesday, March 14th. Three analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $14.50.

Analyst Recommendations for New York Community Bancorp (NYSE:NYCB)

New York Community Bancorp (NYSE NYCB) traded down 0.55% during trading on Thursday, hitting $12.70. The company’s stock had a trading volume of 2,382,312 shares. New York Community Bancorp has a 12 month low of $12.65 and a 12 month high of $17.68. The firm has a market cap of $6.21 billion, a P/E ratio of 13.37 and a beta of 0.58. The firm has a 50 day moving average of $13.13 and a 200 day moving average of $14.54.

New York Community Bancorp (NYSE:NYCB) last posted its earnings results on Wednesday, April 26th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.02. New York Community Bancorp had a net margin of 26.19% and a return on equity of 7.72%. The business had revenue of $327.09 million for the quarter, compared to analysts’ expectations of $342.04 million. During the same period last year, the firm posted $0.27 earnings per share. Equities research analysts predict that New York Community Bancorp will post $0.82 earnings per share for the current year.

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Several large investors have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. raised its stake in New York Community Bancorp by 12.6% in the first quarter. Daiwa Securities Group Inc. now owns 13,400 shares of the financial services provider’s stock valued at $187,000 after buying an additional 1,500 shares in the last quarter. Cadence Capital Management LLC raised its stake in New York Community Bancorp by 16.4% in the first quarter. Cadence Capital Management LLC now owns 72,150 shares of the financial services provider’s stock valued at $1,008,000 after buying an additional 10,192 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in New York Community Bancorp during the first quarter valued at $608,000. Capstone Asset Management Co. raised its stake in New York Community Bancorp by 2.3% in the first quarter. Capstone Asset Management Co. now owns 42,587 shares of the financial services provider’s stock valued at $595,000 after buying an additional 960 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in New York Community Bancorp by 2.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,971,604 shares of the financial services provider’s stock valued at $27,543,000 after buying an additional 54,147 shares in the last quarter. Institutional investors own 58.18% of the company’s stock.

About New York Community Bancorp

New York Community Bancorp, Inc is a multi-bank holding company. The Company operates through its subsidiaries, New York Community Bank (the Community Bank) and New York Commercial Bank (the Commercial Bank) (collectively, the Banks). The Company’s operations are divided into two segments: Banking Operations and Residential Mortgage Banking.

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