New York Community Bancorp (NYSE:NYCB) Downgraded by Keefe, Bruyette & Woods

New York Community Bancorp (NYSE:NYCBGet Rating) was downgraded by investment analysts at Keefe, Bruyette & Woods to a “market perform” rating in a research report issued to clients and investors on Thursday, The Fly reports.

NYCB has been the subject of a number of other research reports. Stephens lowered New York Community Bancorp from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $12.00 to $9.00 in a research report on Tuesday, May 3rd. TheStreet lowered New York Community Bancorp from a “b” rating to a “c+” rating in a research report on Thursday, May 5th. StockNews.com initiated coverage on New York Community Bancorp in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, B. Riley dropped their price objective on New York Community Bancorp from $19.00 to $16.00 in a research note on Tuesday, April 12th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $12.62.

Shares of NYSE NYCB traded up $0.24 during trading on Thursday, reaching $10.14. The stock had a trading volume of 6,124,569 shares, compared to its average volume of 8,039,986. New York Community Bancorp has a one year low of $8.73 and a one year high of $14.33. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a market cap of $4.74 billion, a PE ratio of 8.38, a P/E/G ratio of 0.75 and a beta of 0.95. The firm’s 50 day moving average price is $9.92 and its two-hundred day moving average price is $11.25.

New York Community Bancorp (NYSE:NYCBGet Rating) last issued its quarterly earnings results on Wednesday, April 27th. The financial services provider reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. New York Community Bancorp had a return on equity of 9.80% and a net margin of 34.51%. The business had revenue of $346.00 million during the quarter, compared to the consensus estimate of $347.81 million. During the same period in the previous year, the business earned $0.29 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. On average, research analysts expect that New York Community Bancorp will post 1.34 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NYCB. Balyasny Asset Management LLC boosted its stake in New York Community Bancorp by 264.9% during the 3rd quarter. Balyasny Asset Management LLC now owns 7,204,105 shares of the financial services provider’s stock valued at $92,717,000 after purchasing an additional 5,229,770 shares during the period. Schonfeld Strategic Advisors LLC boosted its stake in New York Community Bancorp by 445.8% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 5,179,816 shares of the financial services provider’s stock valued at $66,664,000 after purchasing an additional 4,230,809 shares during the period. Norges Bank bought a new stake in New York Community Bancorp during the 4th quarter valued at approximately $39,945,000. Renaissance Technologies LLC boosted its stake in New York Community Bancorp by 70.7% during the 1st quarter. Renaissance Technologies LLC now owns 5,284,225 shares of the financial services provider’s stock valued at $56,647,000 after purchasing an additional 2,188,800 shares during the period. Finally, Invesco Ltd. boosted its stake in New York Community Bancorp by 87.3% during the 3rd quarter. Invesco Ltd. now owns 4,385,296 shares of the financial services provider’s stock valued at $56,438,000 after purchasing an additional 2,044,547 shares during the period. Institutional investors own 61.01% of the company’s stock.

About New York Community Bancorp (Get Rating)

New York Community Bancorp, Inc operates as the 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 accepts various deposit products, such as interest-bearing checking and money market, savings, non-interest-bearing, and individual retirement accounts, as well as certificates of deposit.

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