New York Community Bancorp (NYSE:NYCB) Upgraded to “Buy” by UBS Group

New York Community Bancorp (NYSE:NYCB – Get Rating) was upgraded by stock analysts at UBS Group from a “neutral” rating to a “buy” rating in a research report issued on Wednesday, The Fly reports. The firm currently has a $10.00 price objective on the financial services provider’s stock, down from their previous price objective of $10.50. UBS Group’s price target would indicate a potential upside of 45.77% from the company’s previous close.

NYCB has been the subject of several other research reports. StockNews.com upgraded shares of New York Community Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, February 27th. DA Davidson initiated coverage on shares of New York Community Bancorp in a research note on Tuesday, December 20th. They issued a “neutral” rating and a $10.00 price target for the company. Credit Suisse Group boosted their price target on shares of New York Community Bancorp from $8.50 to $10.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 1st. Piper Sandler dropped their price target on shares of New York Community Bancorp from $14.00 to $11.00 and set an “overweight” rating for the company in a research note on Monday, December 5th. Finally, TheStreet lowered New York Community Bancorp from a “b-” rating to a “c+” rating in a report on Monday. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, New York Community Bancorp has an average rating of “Hold” and a consensus price target of $9.95.

New York Community Bancorp Stock Down 1.4 %

New York Community Bancorp stock opened at $6.86 on Wednesday. New York Community Bancorp has a fifty-two week low of $5.81 and a fifty-two week high of $11.28. The company has a debt-to-equity ratio of 2.56, a quick ratio of 1.20 and a current ratio of 1.22. The firm has a 50 day moving average price of $9.13 and a 200 day moving average price of $9.08. The company has a market capitalization of $4.68 billion, a PE ratio of 5.49, a price-to-earnings-growth ratio of 0.56 and a beta of 1.06.

New York Community Bancorp (NYSE:NYCB – Get Rating) last posted its earnings results on Tuesday, January 31st. The financial services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). The company had revenue of $577.00 million during the quarter, compared to analyst estimates of $410.71 million. New York Community Bancorp had a net margin of 27.79% and a return on equity of 9.32%. Research analysts expect that New York Community Bancorp will post 1.13 earnings per share for the current year.

Insider Transactions at New York Community Bancorp

In other New York Community Bancorp news, Director Ronald A. Rosenfeld sold 138,199 shares of New York Community Bancorp stock in a transaction that occurred on Monday, December 19th. The stock was sold at an average price of $8.74, for a total transaction of $1,207,859.26. Following the transaction, the director now owns 12,320 shares of the company’s stock, valued at $107,676.80. The transaction was disclosed in a filing with the SEC, which is available at this link. In other New York Community Bancorp news, Director Ronald A. Rosenfeld sold 138,199 shares of New York Community Bancorp stock in a transaction that occurred on Monday, December 19th. The stock was sold at an average price of $8.74, for a total transaction of $1,207,859.26. Following the transaction, the director now owns 12,320 shares of the company’s stock, valued at $107,676.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Reginald E. Davis sold 4,600 shares of New York Community Bancorp stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $9.97, for a total value of $45,862.00. Following the transaction, the executive vice president now directly owns 123,033 shares in the company, valued at approximately $1,226,639.01. The disclosure for this sale can be found here. Corporate insiders own 1.58% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in shares of New York Community Bancorp by 6.2% in the first quarter. JPMorgan Chase & Co. now owns 1,081,423 shares of the financial services provider’s stock valued at $11,593,000 after buying an additional 63,418 shares in the last quarter. American Century Companies Inc. boosted its position in New York Community Bancorp by 95.1% during the first quarter. American Century Companies Inc. now owns 146,581 shares of the financial services provider’s stock worth $1,571,000 after purchasing an additional 71,460 shares in the last quarter. US Bancorp DE boosted its position in New York Community Bancorp by 2.7% during the first quarter. US Bancorp DE now owns 60,084 shares of the financial services provider’s stock worth $644,000 after purchasing an additional 1,587 shares in the last quarter. AlphaCrest Capital Management LLC boosted its position in New York Community Bancorp by 122.0% during the first quarter. AlphaCrest Capital Management LLC now owns 36,608 shares of the financial services provider’s stock worth $392,000 after purchasing an additional 20,121 shares in the last quarter. Finally, Natixis Advisors L.P. purchased a new stake in New York Community Bancorp during the first quarter worth $235,000. Institutional investors and hedge funds own 63.17% of the company’s stock.

New York Community Bancorp Company Profile

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New York Community Bancorp, Inc is a bank holding company, which engages in the provision of multi-family loans on non-luxury rent-regulated buildings that feature below-market rents. It also offers financial products and services to individuals and businesses. The company was founded on July 20, 1993 and is headquartered in Westbury, NY.