New York Community Bancorp, Inc. (NYSE:NYCB) Receives $5.43 Consensus PT from Brokerages

Shares of New York Community Bancorp, Inc. (NYSE:NYCB) have received an average rating of “Reduce” from the fifteen ratings firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation and thirteen have given a hold recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $5.43.

NYCB has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft downgraded 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. Compass Point lowered 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 note on Thursday, February 1st. JPMorgan Chase & Co. downgraded New York Community Bancorp from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $11.50 to $5.50 in a research report on Wednesday, February 7th. Wedbush dropped their price objective on 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. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $5.00 price objective (down previously from $8.00) on shares of New York Community Bancorp in a research report on Friday, March 1st.

Insider Activity at New York Community Bancorp

In other New York Community Bancorp news, Director Peter Schoels acquired 100,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $4.15 per share, with a total value of $415,000.00. Following the completion of the acquisition, the director now owns 147,438 shares in the company, valued at $611,867.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Peter Schoels acquired 100,000 shares of the stock in a transaction on Friday, February 9th. The shares were bought at an average price of $4.15 per share, with a total value of $415,000.00. Following the completion of the purchase, the director now owns 147,438 shares of the company’s stock, valued at approximately $611,867.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas R. Cangemi acquired 11,310 shares of the stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $4.41 per share, for a total transaction of $49,877.10. Following the purchase, the chief executive officer now directly owns 69,704 shares of the company’s stock, valued at approximately $307,394.64. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 213,410 shares of company stock worth $875,626. 1.62% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On New York Community Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC boosted its position in shares of New York Community Bancorp by 1,237.8% during the 4th quarter. International Assets Investment Management LLC now owns 484,124 shares of the financial services provider’s stock worth $47,324,000 after acquiring an additional 447,937 shares in the last quarter. Nordea Investment Management AB acquired a new position in New York Community Bancorp in the fourth quarter valued at $1,755,000. AQR Capital Management LLC increased its stake in New York Community Bancorp by 212.7% in the third quarter. AQR Capital Management LLC now owns 1,982,700 shares of the financial services provider’s stock valued at $22,444,000 after purchasing an additional 1,348,601 shares during the last quarter. Pacer Advisors Inc. increased its stake in New York Community Bancorp by 79.2% during the fourth quarter. Pacer Advisors Inc. now owns 108,619 shares of the financial services provider’s stock worth $1,111,000 after acquiring an additional 47,996 shares during the last quarter. Finally, State of Michigan Retirement System increased its stake in New York Community Bancorp by 7.9% during the fourth quarter. State of Michigan Retirement System now owns 173,343 shares of the financial services provider’s stock worth $1,773,000 after acquiring an additional 12,700 shares during the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

New York Community Bancorp Price Performance

NYCB opened at $2.79 on Thursday. New York Community Bancorp has a 1 year low of $1.70 and a 1 year high of $14.22. The stock has a 50-day moving average price of $3.46 and a 200-day moving average price of $7.18. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.18 and a quick ratio of 1.17. The firm has a market cap of $2.23 billion, a PE ratio of 0.84 and a beta of 0.92.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) EPS for the quarter, missing the consensus estimate of $0.29 by ($0.56). The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the company earned $0.25 EPS. Sell-side analysts predict that New York Community Bancorp will post -0.08 earnings per share for the current fiscal year.

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.