New York Community Bancorp (NYSE:NYCB) Lifted to Market Perform at Raymond James

New York Community Bancorp (NYSE:NYCB) was upgraded by analysts at Raymond James from an “underperform” rating to a “market perform” rating in a report released on Tuesday, Benzinga reports.

A number of other research analysts have also recently weighed in on the stock. StockNews.com upgraded shares of New York Community Bancorp to a “sell” rating in a research note on Friday, July 19th. Keefe, Bruyette & Woods lifted their target price 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. Wedbush reissued a “neutral” rating and issued a $31.50 price target on shares of New York Community Bancorp in a report on Friday, July 26th. Citigroup raised their price objective on shares of New York Community Bancorp from $10.50 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, July 3rd. Finally, Barclays upped their target price on shares of New York Community Bancorp from $12.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, New York Community Bancorp currently has a consensus rating of “Hold” and an average price target of $18.91.

New York Community Bancorp Stock Up 5.5 %

Shares of NYCB traded up $0.63 on Tuesday, reaching $12.05. The company’s stock had a trading volume of 5,273,627 shares, compared to its average volume of 8,645,025. The stock has a market capitalization of $3.30 billion, a PE ratio of 405.33 and a beta of 1.00. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 3.66. New York Community Bancorp has a twelve month low of $5.10 and a twelve month high of $35.04. The firm has a fifty day moving average of $15.80 and a 200-day moving average of $11.94.

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

Institutional Investors Weigh In On New York Community Bancorp

Large investors have recently modified their holdings of the stock. Legacy Capital Group California Inc. lifted its position in New York Community Bancorp by 1.2% during the second quarter. Legacy Capital Group California Inc. now owns 81,618 shares of the financial services provider’s stock valued at $263,000 after buying an additional 934 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its position in New York Community Bancorp by 6.2% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 19,642 shares of the financial services provider’s stock valued at $63,000 after buying an additional 1,146 shares during the period. CIBC Asset Management Inc raised its stake in shares of New York Community Bancorp by 7.6% in the second quarter. CIBC Asset Management Inc now owns 20,405 shares of the financial services provider’s stock worth $66,000 after buying an additional 1,436 shares during the period. Family Asset Management LLC lifted its holdings in New York Community Bancorp by 9.2% in the 2nd quarter. Family Asset Management LLC now owns 18,010 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 1,510 shares in the last quarter. Finally, ProShare Advisors LLC lifted its stake in New York Community Bancorp by 4.4% in the 2nd quarter. ProShare Advisors LLC now owns 36,769 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 1,544 shares in the last quarter. Institutional investors 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.