New York Community Bancorp (NYSE:NYCB) Rating Increased to Sell at StockNews.com

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

Several other brokerages also recently commented on NYCB. Citigroup dropped their price target on 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. Morgan Stanley lowered their price objective on New York Community Bancorp from $6.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 7th. Keefe, Bruyette & Woods cut New York Community Bancorp from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $14.00 to $12.00 in a research report on Monday, December 18th. UBS Group cut New York Community Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Finally, Barclays initiated coverage on New York Community Bancorp in a research report on Friday, March 8th. They set an “equal weight” rating and a $4.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.43.

New York Community Bancorp Stock Up 0.5 %

NYCB opened at $2.93 on Monday. The business has a 50 day moving average price of $3.77 and a 200 day moving average price of $7.68. New York Community Bancorp has a twelve month low of $1.70 and a twelve month high of $14.22. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.17 and a current ratio of 1.18. The firm has a market cap of $2.33 billion, a P/E ratio of 0.88, a price-to-earnings-growth ratio of 31.60 and a beta of 0.92.

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 the consensus estimate 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 company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $935.90 million. During the same quarter last year, the firm posted $0.25 earnings per share. Research analysts forecast that New York Community Bancorp will post 0.01 EPS for the current year.

Insider Buying and Selling at New York Community Bancorp

In related news, CEO Thomas R. Cangemi bought 11,310 shares of the business’s stock in a transaction on Friday, February 9th. The shares were purchased at an average price of $4.41 per share, with a total value of $49,877.10. Following the completion of the purchase, the chief executive officer now owns 69,704 shares of the company’s stock, valued at approximately $307,394.64. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In other New York Community Bancorp news, CEO Thomas R. Cangemi purchased 11,310 shares of the stock in a transaction 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 completion of the acquisition, the chief executive officer now directly owns 69,704 shares of the company’s stock, valued at $307,394.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Alessandro Dinello purchased 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 acquisition, the chairman now directly owns 114,305 shares of the company’s stock, valued at $478,937.95. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 213,410 shares of company stock valued at $875,626. 1.62% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NYCB. State Street Corp grew its holdings 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 worth $319,548,000 after buying an additional 13,450,558 shares in the last quarter. Norges Bank acquired a new position in New York Community Bancorp during the fourth quarter valued at approximately $77,628,000. Balyasny Asset Management L.P. acquired a new position in New York Community Bancorp during the first quarter valued at approximately $55,839,000. Wellington Management Group LLP boosted its position in New York Community Bancorp by 7.5% during the third quarter. Wellington Management Group LLP now owns 67,668,954 shares of the financial services provider’s stock valued at $767,366,000 after purchasing an additional 4,723,876 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its position in New York Community Bancorp by 154.0% during the third quarter. Westfield Capital Management Co. LP now owns 5,135,955 shares of the financial services provider’s stock valued at $58,242,000 after purchasing an additional 3,114,070 shares during the last quarter. 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.