StockNews.com Upgrades New York Community Bancorp (NYSE:NYCB) to Sell

New York Community Bancorp (NYSE:NYCB) was upgraded by research analysts at StockNews.com to a “sell” rating in a report released on Monday.

A number of other research analysts also recently issued reports on NYCB. UBS Group downgraded shares of New York Community Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Citigroup dropped their target price on shares of New York Community Bancorp from $5.00 to $3.50 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. TheStreet downgraded shares of New York Community Bancorp from a “b-” rating to a “c+” rating in a research report on Monday, February 5th. Barclays initiated coverage on shares of New York Community Bancorp in a research note on Friday, March 8th. They set an “equal weight” rating and a $4.00 price target for the company. Finally, Morgan Stanley reduced their target price on shares of New York Community Bancorp from $6.00 to $4.00 and set an “equal weight” rating for the company in a research note on Thursday, March 7th. Three research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.43.

New York Community Bancorp Trading Down 5.4 %

NYCB opened at $2.64 on Monday. New York Community Bancorp has a fifty-two week low of $1.70 and a fifty-two week high of $14.22. 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 capitalization of $2.11 billion, a price-to-earnings ratio of 0.79 and a beta of 0.92. The company’s 50 day moving average price is $3.42 and its two-hundred day moving average price is $7.12.

New York Community Bancorp (NYSE:NYCB) last posted its earnings results 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 return on equity of 6.22% and a net margin of 28.96%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $935.90 million. During the same period in the previous year, the firm earned $0.25 earnings per share. As a group, research analysts predict that New York Community Bancorp will post -0.08 earnings per share for the current year.

Insider Buying and Selling

In other news, Chairman Alessandro Dinello acquired 50,000 shares of the stock in a transaction on Friday, February 9th. The stock was acquired at an average price of $4.19 per share, with a total value of $209,500.00. Following the completion of the transaction, the chairman now owns 114,305 shares of the company’s stock, valued at approximately $478,937.95. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other New York Community Bancorp news, CEO Thomas R. Cangemi acquired 11,310 shares of New York Community Bancorp stock in a transaction that occurred on Friday, February 9th. The stock was bought at an average cost of $4.41 per share, for a total transaction of $49,877.10. Following the acquisition, the chief executive officer now owns 69,704 shares of the company’s stock, valued at $307,394.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Alessandro Dinello purchased 50,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were purchased at an average price of $4.19 per share, with a total value of $209,500.00. Following the completion of the purchase, the chairman now owns 114,305 shares in the company, valued at $478,937.95. The disclosure for this purchase can be found here. Insiders acquired 213,410 shares of company stock valued at $875,626 over the last quarter. 1.62% of the stock is owned by company insiders.

Institutional Investors Weigh In On New York Community Bancorp

Large investors have recently made changes to their positions in the company. Orion Capital Management LLC bought a new stake in shares of New York Community Bancorp during the 3rd quarter valued at about $28,000. Loomis Sayles & Co. L P bought a new position in shares of New York Community Bancorp during the 3rd quarter valued at approximately $29,000. Naples Money Management LLC bought a new position in shares of New York Community Bancorp during the 4th quarter valued at approximately $30,000. Authentikos Wealth Advisory LLC bought a new position in shares of New York Community Bancorp during the 3rd quarter valued at approximately $35,000. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of New York Community Bancorp during the 4th quarter valued at approximately $40,000. 67.88% of the stock is currently owned by institutional investors.

About New York Community Bancorp

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.