Morgan Stanley Lowers New York Community Bancorp (NYSE:NYCB) Price Target to $6.00

New York Community Bancorp (NYSE:NYCBGet Free Report) had its target price reduced by equities research analysts at Morgan Stanley from $7.00 to $6.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective would suggest a potential upside of 43.37% from the stock’s current price.

Several other research firms have also recently issued reports on NYCB. Bank of America cut shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $8.50 to $5.00 in a research note on Wednesday. Compass Point cut shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $16.00 to $8.00 in a research note on Thursday, February 1st. StockNews.com lowered shares of New York Community Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, February 1st. Citigroup cut their price objective on shares of New York Community Bancorp from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, December 14th. Finally, Keefe, Bruyette & Woods lowered shares of New York Community Bancorp from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $14.00 to $12.00 in a report on Monday, December 18th. Two investment analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $8.29.

Read Our Latest Stock Analysis on NYCB

New York Community Bancorp Price Performance

Shares of NYSE NYCB opened at $4.19 on Wednesday. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 1.26, a PEG ratio of 0.56 and a beta of 1.03. New York Community Bancorp has a 52 week low of $3.60 and a 52 week high of $14.22. The company’s 50-day moving average price is $9.61 and its 200 day moving average price is $10.60. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 2.06.

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) EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.56). The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $935.90 million. New York Community Bancorp had a net margin of 28.96% and a return on equity of 5.85%. During the same period in the previous year, the company posted $0.25 earnings per share. As a group, research analysts forecast that New York Community Bancorp will post 0.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On New York Community Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in shares of New York Community Bancorp by 61.4% during the first quarter. State Street Corp now owns 35,348,227 shares of the financial services provider’s stock valued at $319,548,000 after purchasing an additional 13,450,558 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in New York Community Bancorp in the first quarter worth about $55,839,000. Norges Bank bought a new stake in New York Community Bancorp in the fourth quarter worth about $49,054,000. Wellington Management Group LLP increased its stake in New York Community Bancorp by 7.5% in the 3rd quarter. Wellington Management Group LLP now owns 67,668,954 shares of the financial services provider’s stock worth $767,366,000 after purchasing an additional 4,723,876 shares in the last quarter. Finally, Cannell & Co. increased its stake in New York Community Bancorp by 1,234.0% in the 2nd quarter. Cannell & Co. now owns 3,929,132 shares of the financial services provider’s stock worth $44,163,000 after purchasing an additional 3,634,600 shares in the last quarter. 67.52% of the stock is currently owned by institutional investors.

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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