New York Community Bancorp, Inc. (NYSE:NYCB) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of New York Community Bancorp, Inc. (NYSE:NYCB) have been given an average recommendation of “Reduce” by the fifteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation and thirteen have assigned a hold recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $5.43.

NYCB has been the subject of several analyst reports. JPMorgan Chase & Co. lowered shares of New York Community Bancorp from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $11.50 to $5.50 in a research note on Wednesday, February 7th. Compass Point lowered shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $16.00 to $8.00 in a research report on Thursday, February 1st. Wedbush reduced their target price on shares of New York Community Bancorp from $3.50 to $3.00 and set an “underperform” rating on the stock in a research report on Thursday, March 7th. TheStreet downgraded shares of New York Community Bancorp from a “b-” rating to a “c+” rating in a research note on Monday, February 5th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of New York Community Bancorp from a “buy” rating to a “hold” rating and dropped their price target for the stock from $15.00 to $7.00 in a research note on Friday, February 2nd.

New York Community Bancorp Trading Down 6.1 %

New York Community Bancorp stock opened at $2.79 on Thursday. The company has a 50 day moving average price of $3.46 and a 200 day moving average price of $7.18. New York Community Bancorp has a 52 week low of $1.70 and a 52 week high of $14.22. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.17 and a current ratio of 1.18. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 0.84 and a beta of 0.92.

New York Community Bancorp (NYSE:NYCB) last issued its earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.56). The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $935.90 million. New York Community Bancorp had a net margin of 28.96% and a return on equity of 6.22%. During the same period last year, the business earned $0.25 EPS. Research analysts forecast that New York Community Bancorp will post -0.08 EPS for the current year.

Insider Transactions at New York Community Bancorp

In other New York Community Bancorp news, CEO Thomas R. Cangemi bought 11,310 shares of New York Community Bancorp stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average price of $4.41 per share, for a total transaction of $49,877.10. Following the completion of the acquisition, the chief executive officer now owns 69,704 shares of the company’s stock, valued at approximately $307,394.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Thomas R. Cangemi purchased 11,310 shares of the business’s stock in a transaction on Friday, February 9th. The stock was purchased at an average price of $4.41 per share, for a total transaction of $49,877.10. Following the completion of the purchase, the chief executive officer now directly owns 69,704 shares in the company, valued at approximately $307,394.64. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Alessandro Dinello purchased 50,000 shares of the business’s stock in a transaction on Friday, February 9th. The stock was purchased at an average price of $4.19 per share, with a total value of $209,500.00. Following the purchase, the chairman now owns 114,305 shares of the company’s stock, valued at $478,937.95. The disclosure for this purchase can be found here. Insiders purchased 213,410 shares of company stock valued at $875,626 over the last quarter. Corporate insiders own 1.62% of the company’s stock.

Institutional Trading of New York Community Bancorp

A number of hedge funds have recently modified their holdings of NYCB. Versant Capital Management Inc increased its position in New York Community Bancorp by 3,583.0% during the first quarter. Versant Capital Management Inc now owns 8,250 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 8,026 shares during the period. Orion Capital Management LLC acquired a new stake in New York Community Bancorp during the 3rd quarter worth approximately $28,000. Loomis Sayles & Co. L P acquired a new stake in New York Community Bancorp during the 3rd quarter worth approximately $29,000. Naples Money Management LLC acquired a new position in shares of New York Community Bancorp in the 4th quarter worth approximately $30,000. Finally, KG&L Capital Management LLC acquired a new position in shares of New York Community Bancorp in the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

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.