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

StockNews.com upgraded shares of New York Community Bancorp (NYSE:NYCB) to a sell rating in a research report released on Monday.

A number of other analysts have also commented on NYCB. Raymond James lowered shares of New York Community Bancorp from a market perform rating to an underperform rating and set a $3.00 price objective on the stock. in a research report on Monday, March 18th. UBS Group downgraded New York Community Bancorp from a buy rating to a neutral rating in a research note on Monday, January 8th. Jefferies Financial Group downgraded New York Community Bancorp from a buy rating to a hold rating and cut their price objective for the company from $13.00 to $7.00 in a report on Thursday, February 1st. Bank of America downgraded shares of New York Community Bancorp from a buy rating to a neutral rating and lowered their target price for the stock from $8.50 to $5.00 in a report on Wednesday, February 7th. Finally, Morgan Stanley decreased their price objective 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 report on Thursday, March 7th. Three equities research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $5.43.

New York Community Bancorp Price Performance

Shares of NYSE NYCB opened at $2.79 on Monday. The company has a fifty day moving average price of $3.46 and a 200 day moving average price of $7.18. The firm has a market cap of $2.23 billion, a PE ratio of 0.84 and a beta of 0.92. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 2.70. New York Community Bancorp has a 1-year low of $1.70 and a 1-year high of $14.22.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings data 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 firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $935.90 million. During the same period in the prior year, the company earned $0.25 earnings per share. Research analysts predict that New York Community Bancorp will post -0.08 earnings per share for the current fiscal year.

Insider Transactions at New York Community Bancorp

In other New York Community Bancorp news, Director Marshall Lux purchased 27,100 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were acquired at an average cost of $3.69 per share, for a total transaction of $99,999.00. Following the completion of the purchase, the director now owns 64,872 shares of the company’s stock, valued at approximately $239,377.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Peter Schoels bought 100,000 shares of New York Community Bancorp stock in a transaction dated Friday, February 9th. The shares were bought at an average cost of $4.15 per share, with a total value of $415,000.00. Following the acquisition, the director now owns 147,438 shares in the company, valued at approximately $611,867.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Marshall Lux purchased 27,100 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was bought at an average cost of $3.69 per share, with a total value of $99,999.00. Following the purchase, the director now owns 64,872 shares of the company’s stock, valued at $239,377.68. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 213,410 shares of company stock valued at $875,626. 1.62% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On New York Community Bancorp

Several hedge funds have recently bought and sold shares of NYCB. Mayflower Financial Advisors LLC acquired a new stake in shares of New York Community Bancorp during the 1st quarter worth approximately $39,000. Stock Yards Bank & Trust Co. acquired a new position in shares of New York Community Bancorp during the 1st quarter worth $87,000. Commonwealth Equity Services LLC lifted its position in shares of New York Community Bancorp by 47.0% during the 1st quarter. Commonwealth Equity Services LLC now owns 451,017 shares of the financial services provider’s stock worth $1,452,000 after buying an additional 144,109 shares during the last quarter. Principal Financial Group Inc. boosted its stake in New York Community Bancorp by 2.5% in the first quarter. Principal Financial Group Inc. now owns 2,718,179 shares of the financial services provider’s stock valued at $8,753,000 after buying an additional 66,219 shares in the last quarter. Finally, Riverwater Partners LLC bought a new position in New York Community Bancorp in the first quarter valued at about $362,000. 67.88% of the stock is 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.