Barclays Upgrades New York Community Bancorp (NYSE:NYCB) to Overweight

New York Community Bancorp (NYSE:NYCB) was upgraded by investment analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. The firm presently 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 would suggest a potential upside of 22.16% from the company’s previous close.

A number of other equities research analysts have also weighed in on NYCB. Wedbush restated a “neutral” rating and issued a $31.50 price objective on shares of New York Community Bancorp in a report on Friday, July 26th. Keefe, Bruyette & Woods boosted their price target on shares of New York Community Bancorp from $11.25 to $33.75 and gave the stock a “market perform” rating in a research note on Monday, July 15th. Raymond James raised New York Community Bancorp from an “underperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. Citigroup boosted their target price on New York Community Bancorp from $3.50 to $4.00 and gave the company a “neutral” rating in a research note on Wednesday, July 3rd. Finally, StockNews.com upgraded New York Community Bancorp to a “sell” rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, New York Community Bancorp presently has a consensus rating of “Hold” and an average target price of $9.70.

New York Community Bancorp Stock Up 0.4 %

Shares of NYSE:NYCB opened at $11.46 on Thursday. The firm has a market capitalization of $3.13 billion, a PE ratio of 382.00 and a beta of 1.00. The company has a debt-to-equity ratio of 3.66, a quick ratio of 1.17 and a current ratio of 1.27. New York Community Bancorp has a 52-week low of $5.10 and a 52-week high of $34.50. The firm has a fifty day moving average of $13.74 and a 200 day moving average of $7.78.

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

Hedge Funds Weigh In On New York Community Bancorp

Institutional investors have recently bought and sold shares of the stock. Jump Financial LLC purchased a new position in shares of New York Community Bancorp during the 4th quarter worth approximately $173,000. Orion Portfolio Solutions LLC lifted its position in New York Community Bancorp by 9.0% during the fourth quarter. Orion Portfolio Solutions LLC now owns 227,141 shares of the financial services provider’s stock valued at $2,405,000 after buying an additional 18,682 shares during the period. Advisory Services Network LLC boosted its holdings in shares of New York Community Bancorp by 206.7% during the 4th quarter. Advisory Services Network LLC now owns 68,542 shares of the financial services provider’s stock valued at $701,000 after buying an additional 46,193 shares in the last quarter. Hilltop Holdings Inc. purchased a new stake in shares of New York Community Bancorp in the 4th quarter worth about $243,000. Finally, United Services Automobile Association increased its stake in shares of New York Community Bancorp by 14.6% in the 4th quarter. United Services Automobile Association now owns 57,075 shares of the financial services provider’s stock worth $584,000 after acquiring an additional 7,284 shares in the last quarter. 67.88% of the stock is owned by 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.