New York Community Bancorp (NYSE:NYCB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm currently has a $16.00 price target on the financial services provider’s stock. Zacks Investment Research‘s target price indicates a potential upside of 13.31% from the company’s current price.
According to Zacks, “New York Community Bancorp, Inc. is a leading producer of multi-family loans in New York City, with an emphasis on apartment buildings that feature below-market rents. The Company has two bank subsidiaries: New York Community Bank, with 178 branches serving customers throughout Metro New York and New Jersey; and New York Commercial Bank, with 36 branches serving customers in Manhattan, Queens, Brooklyn, Long Island, and Westchester County in New York. Reflecting its growth through a series of acquisitions, the Community Bank operates through five local divisions: Queens County Savings Bank in Queens, Roslyn Savings Bank on Long Island, Richmond County Savings Bank on Staten Island, Roosevelt Savings Bank in Brooklyn, and Garden State Community Bank in New Jersey. Similarly, the Commercial Bank operates 17 of its branches under the name Atlantic Bank. “
Several other brokerages have also recently issued reports on NYCB. Bank of America raised New York Community Bancorp from a “neutral” rating to a “buy” rating in a report on Wednesday, January 10th. FBR & Co restated a “sell” rating on shares of New York Community Bancorp in a report on Wednesday, October 25th. BidaskClub upgraded New York Community Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, November 15th. Keefe, Bruyette & Woods restated a “hold” rating and set a $14.00 price target on shares of New York Community Bancorp in a report on Friday, December 22nd. Finally, Morgan Stanley increased their price target on New York Community Bancorp from $14.00 to $14.75 and gave the company an “equal weight” rating in a report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $13.34.
Shares of New York Community Bancorp (NYCB) opened at $14.12 on Thursday. The stock has a market capitalization of $6,882.83, a P/E ratio of 15.69, a PEG ratio of 1.65 and a beta of 0.65. New York Community Bancorp has a twelve month low of $11.67 and a twelve month high of $15.59. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 2.05.
New York Community Bancorp (NYSE:NYCB) last issued its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.17. The business had revenue of $296.32 million for the quarter, compared to analysts’ expectations of $300.29 million. New York Community Bancorp had a return on equity of 6.81% and a net margin of 25.91%. equities research analysts predict that New York Community Bancorp will post 0.86 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in NYCB. Bank of New York Mellon Corp increased its stake in New York Community Bancorp by 3.8% in the third quarter. Bank of New York Mellon Corp now owns 6,496,698 shares of the financial services provider’s stock worth $83,743,000 after purchasing an additional 235,792 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in New York Community Bancorp in the third quarter worth $374,000. Janus Henderson Group PLC increased its stake in New York Community Bancorp by 141.2% in the second quarter. Janus Henderson Group PLC now owns 168,156 shares of the financial services provider’s stock worth $2,208,000 after purchasing an additional 98,442 shares during the period. Stevens Capital Management LP purchased a new stake in New York Community Bancorp in the third quarter worth $356,000. Finally, Comerica Bank increased its stake in New York Community Bancorp by 1.0% in the fourth quarter. Comerica Bank now owns 431,082 shares of the financial services provider’s stock worth $5,983,000 after purchasing an additional 4,154 shares during the period. Institutional investors own 59.01% of the company’s stock.
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New York Community Bancorp Company Profile
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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