New York Community Bancorp (NYSE:NYCB) Price Target Cut to $11.50

New York Community Bancorp (NYSE:NYCBGet Free Report) had its target price decreased by research analysts at JPMorgan Chase & Co. from $14.00 to $11.50 in a report released on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 90.71% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the company. Citigroup lowered their price objective on New York Community Bancorp from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, December 14th. Keefe, Bruyette & Woods lowered New York Community Bancorp from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $14.00 to $12.00 in a research report on Monday, December 18th. Compass Point lowered New York Community Bancorp from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $16.00 to $8.00 in a research report on Thursday. StockNews.com upgraded New York Community Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, January 22nd. Finally, Morgan Stanley decreased their target price on New York Community Bancorp from $12.00 to $10.50 and set an “equal weight” rating for the company in a research report on Monday, December 4th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.07.

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New York Community Bancorp Price Performance

Shares of NYSE NYCB opened at $6.03 on Thursday. New York Community Bancorp has a fifty-two week low of $5.51 and a fifty-two week high of $14.22. The business has a 50 day moving average price of $9.89 and a two-hundred day moving average price of $10.76. The company has a quick ratio of 1.09, a current ratio of 1.18 and a debt-to-equity ratio of 2.06. The firm has a market cap of $4.36 billion, a PE ratio of 1.81, a price-to-earnings-growth ratio of 0.48 and a beta of 1.03.

New York Community Bancorp (NYSE:NYCBGet Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The financial services provider reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.56). New York Community Bancorp had a net margin of 28.96% and a return on equity of 5.85%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $935.90 million. During the same quarter last year, the business earned $0.25 EPS. Sell-side analysts expect that New York Community Bancorp will post 1.34 earnings per share for the current fiscal year.

Institutional Trading of New York Community Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Jackson Creek Investment Advisors LLC bought a new stake in New York Community Bancorp during the 3rd quarter valued at $371,000. The Manufacturers Life Insurance Company raised its stake in New York Community Bancorp by 163.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,399,243 shares of the financial services provider’s stock valued at $15,727,000 after acquiring an additional 868,943 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in New York Community Bancorp during the 3rd quarter valued at $1,451,000. Exchange Traded Concepts LLC bought a new stake in New York Community Bancorp during the 3rd quarter valued at $1,641,000. Finally, Picton Mahoney Asset Management bought a new stake in New York Community Bancorp during the 3rd quarter valued at $10,581,000. Institutional investors own 67.52% of the company’s stock.

About New York Community Bancorp

(Get Free Report)

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.

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

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