New York Community Bancorp (NYCB) Lowered to Underweight at Barclays

Barclays downgraded shares of New York Community Bancorp (NYSE:NYCB) from an equal weight rating to an underweight rating in a research note released on Thursday, MarketBeat.com reports.

Several other research firms have also recently weighed in on NYCB. Credit Suisse Group reaffirmed a hold rating and set a $11.00 price objective on shares of New York Community Bancorp in a research report on Monday, January 7th. Zacks Investment Research reaffirmed a hold rating on shares of New York Community Bancorp in a research report on Monday, December 31st. B. Riley set a $11.00 price objective on New York Community Bancorp and gave the company a hold rating in a research report on Monday, October 15th. UBS Group raised New York Community Bancorp from a sell rating to a neutral rating and lifted their price objective for the company from $9.50 to $10.00 in a research report on Tuesday, January 8th. Finally, Piper Jaffray Companies raised New York Community Bancorp from an underweight rating to a neutral rating and cut their price objective for the company from $10.00 to $9.00 in a research report on Friday, October 26th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $11.85.

Shares of NYSE:NYCB opened at $10.11 on Thursday. New York Community Bancorp has a 1 year low of $8.61 and a 1 year high of $14.53. The stock has a market cap of $4.95 billion, a P/E ratio of 12.48, a price-to-earnings-growth ratio of 1.27 and a beta of 0.74. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 2.20.

New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.20. New York Community Bancorp had a return on equity of 6.60% and a net margin of 26.41%. The company had revenue of $272.43 million for the quarter, compared to the consensus estimate of $285.05 million. During the same quarter in the previous year, the business earned $0.21 EPS. On average, analysts expect that New York Community Bancorp will post 0.79 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of NYCB. General American Investors Co. Inc. bought a new stake in shares of New York Community Bancorp in the 3rd quarter worth approximately $12,185,000. Russell Investments Group Ltd. boosted its position in shares of New York Community Bancorp by 34.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,547,106 shares of the financial services provider’s stock worth $36,434,000 after purchasing an additional 899,482 shares in the last quarter. Kahn Brothers Group Inc. DE boosted its position in shares of New York Community Bancorp by 29.3% in the 3rd quarter. Kahn Brothers Group Inc. DE now owns 3,951,906 shares of the financial services provider’s stock worth $40,981,000 after purchasing an additional 895,314 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of New York Community Bancorp by 7.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 10,048,026 shares of the financial services provider’s stock worth $104,194,000 after purchasing an additional 704,870 shares in the last quarter. Finally, Mondrian Investment Partners LTD boosted its position in shares of New York Community Bancorp by 9.4% in the 3rd quarter. Mondrian Investment Partners LTD now owns 5,997,574 shares of the financial services provider’s stock worth $62,195,000 after purchasing an additional 514,250 shares in the last quarter. 67.79% of the stock is currently owned by hedge funds and other institutional investors.

About New York Community Bancorp

New York Community Bancorp, Inc operates as a holding company for New York Community Bank and New York Commercial Bank that offer banking products and financial services in Metro New York, New Jersey, Ohio, Florida, and Arizona. The company offers various deposit products that include checking and savings accounts, individual retirement accounts, certificates of deposit, NOW and money market accounts, and non-interest-bearing accounts.

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