New York Community Bancorp (NYSE:NYCB) Rating Lowered to Hold at Sandler O’Neill

New York Community Bancorp (NYSE:NYCB) was downgraded by analysts at Sandler O’Neill from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, MarketBeat reports.

Several other analysts also recently issued reports on the company. Royal Bank of Canada initiated coverage on New York Community Bancorp in a research note on Friday, July 12th. They set an “outperform” rating and a $12.00 price target for the company. Zacks Investment Research lowered New York Community Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, April 2nd. Jefferies Financial Group began coverage on New York Community Bancorp in a research report on Monday, April 8th. They issued a “hold” rating and a $12.00 price target on the stock. TheStreet lowered New York Community Bancorp from a “b-” rating to a “c+” rating in a research report on Thursday, June 13th. Finally, B. Riley upgraded New York Community Bancorp from a “neutral” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Thursday, July 11th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. New York Community Bancorp has an average rating of “Hold” and an average price target of $12.20.

Shares of NYCB traded down $0.05 during trading hours on Wednesday, hitting $11.54. 91,343 shares of the company were exchanged, compared to its average volume of 4,191,566. The company has a market capitalization of $5.42 billion, a P/E ratio of 14.65, a PEG ratio of 1.45 and a beta of 0.98. The company’s 50 day simple moving average is $10.25. New York Community Bancorp has a 52 week low of $8.61 and a 52 week high of $12.72. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.31 and a current ratio of 1.31.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. The company had revenue of $255.29 million during the quarter, compared to the consensus estimate of $255.49 million. New York Community Bancorp had a return on equity of 6.65% and a net margin of 22.65%. During the same quarter in the prior year, the company posted $0.20 EPS. On average, equities analysts expect that New York Community Bancorp will post 0.77 earnings per share for the current year.

In other New York Community Bancorp news, Director Hanif Dahya bought 1,640 shares of New York Community Bancorp stock in a transaction on Thursday, May 9th. The shares were purchased at an average cost of $26.31 per share, for a total transaction of $43,148.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.31% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Trexquant Investment LP bought a new position in New York Community Bancorp during the first quarter worth about $1,767,000. Teza Capital Management LLC grew its holdings in New York Community Bancorp by 286.1% during the first quarter. Teza Capital Management LLC now owns 58,333 shares of the financial services provider’s stock worth $675,000 after purchasing an additional 43,225 shares during the period. Public Employees Retirement System of Ohio grew its holdings in New York Community Bancorp by 14.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 162,563 shares of the financial services provider’s stock worth $1,530,000 after purchasing an additional 20,594 shares during the period. Swiss National Bank grew its holdings in New York Community Bancorp by 3.1% during the first quarter. Swiss National Bank now owns 893,600 shares of the financial services provider’s stock worth $10,339,000 after purchasing an additional 26,500 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in New York Community Bancorp by 74.5% during the first quarter. Nisa Investment Advisors LLC now owns 198,200 shares of the financial services provider’s stock worth $2,293,000 after purchasing an additional 84,600 shares during the period. Hedge funds and other institutional investors own 62.86% of the company’s stock.

New York Community Bancorp Company Profile

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

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Analyst Recommendations for New York Community Bancorp (NYSE:NYCB)

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