Barclays Increases New York Community Bancorp (NYCB) Price Target to $13.00

New York Community Bancorp (NYSE:NYCB) had its price objective lifted by equities researchers at Barclays from $12.00 to $13.00 in a note issued to investors on Tuesday. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays’ target price points to a potential downside of 1.22% from the stock’s current price.

A number of other brokerages have also recently weighed in on NYCB. FBR & Co reiterated a “sell” rating on shares of New York Community Bancorp in a research report on Wednesday, October 25th. Piper Jaffray Companies restated a “sell” rating and issued a $11.00 price objective on shares of New York Community Bancorp in a report on Tuesday, September 19th. BidaskClub upgraded shares of New York Community Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, November 15th. Zacks Investment Research cut shares of New York Community Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, December 14th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $14.00 price objective on shares of New York Community Bancorp in a report on Friday, December 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. New York Community Bancorp currently has a consensus rating of “Hold” and an average target price of $12.79.

Shares of New York Community Bancorp (NYSE:NYCB) traded up $0.09 on Tuesday, hitting $13.16. 3,876,400 shares of the company’s stock were exchanged, compared to its average volume of 4,000,300. New York Community Bancorp has a 1-year low of $11.67 and a 1-year high of $16.25. The firm has a market capitalization of $6,430.00, a PE ratio of 15.13 and a beta of 0.59. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.98.

New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. New York Community Bancorp had a net margin of 24.22% and a return on equity of 7.17%. The business had revenue of $385.27 million during the quarter, compared to analysts’ expectations of $313.64 million. During the same period last year, the business earned $0.26 earnings per share. equities analysts forecast that New York Community Bancorp will post 0.68 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in New York Community Bancorp by 33.8% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 27,831,006 shares of the financial services provider’s stock worth $358,742,000 after acquiring an additional 7,036,258 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in New York Community Bancorp by 364.4% in the third quarter. Russell Investments Group Ltd. now owns 5,127,649 shares of the financial services provider’s stock worth $66,095,000 after acquiring an additional 4,023,388 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in New York Community Bancorp by 40.0% in the second quarter. Dimensional Fund Advisors LP now owns 5,311,010 shares of the financial services provider’s stock worth $69,738,000 after acquiring an additional 1,517,864 shares during the last quarter. Vanguard Group Inc. lifted its stake in New York Community Bancorp by 2.3% in the second quarter. Vanguard Group Inc. now owns 40,770,549 shares of the financial services provider’s stock worth $535,317,000 after acquiring an additional 910,170 shares during the last quarter. Finally, Alecta Pensionsforsakring Omsesidigt lifted its stake in New York Community Bancorp by 8.6% in the third quarter. Alecta Pensionsforsakring Omsesidigt now owns 11,400,000 shares of the financial services provider’s stock worth $146,946,000 after acquiring an additional 900,000 shares during the last quarter. Hedge funds and other institutional investors own 58.44% of the company’s stock.

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New York Community Bancorp Company Profile

New York Community Bancorp, Inc is a multi-bank holding company. The Company operates through its subsidiaries, New York Community Bank (the Community Bank) and New York Commercial Bank (the Commercial Bank) (collectively, the Banks). The Company’s operations are divided into two segments: Banking Operations and Residential Mortgage Banking.

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

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