Royal Bank of Canada Initiates Coverage on New York Community Bancorp (NYSE:NYCB)

Share on StockTwits

Analysts at Royal Bank of Canada began coverage on shares of New York Community Bancorp (NYSE:NYCB) in a research report issued on Friday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $12.00 price target on the financial services provider’s stock. Royal Bank of Canada’s price objective points to a potential upside of 14.07% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the company. B. Riley set a $75.00 price target on Comerica and gave the stock a “hold” rating in a report on Thursday. Jefferies Financial Group boosted their price target on Las Vegas Sands from $57.00 to $69.00 and gave the stock a “hold” rating in a report on Monday, April 8th. TheStreet raised SUMMIT THERAPEU/S from a “d” rating to a “c-” rating in a report on Thursday, June 13th. Finally, Zacks Investment Research cut GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 2nd. Three research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $12.28.

Shares of NYCB stock opened at $10.52 on Friday. The business’s fifty day moving average price is $9.99. The firm has a market capitalization of $4.92 billion, a PE ratio of 13.49, a PEG ratio of 1.37 and a beta of 0.98. New York Community Bancorp has a 1 year low of $8.61 and a 1 year high of $12.72. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.31 and a current ratio of 1.31.

New York Community Bancorp (NYSE:NYCB) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. The firm had revenue of $266.11 million during the quarter, compared to analysts’ expectations of $268.24 million. New York Community Bancorp had a return on equity of 6.65% and a net margin of 22.65%. New York Community Bancorp’s revenue was down 9.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 earnings per share. As a group, sell-side analysts anticipate that New York Community Bancorp will post 0.77 EPS for the current year.

In other news, Director Hanif Dahya purchased 1,640 shares of the stock in a transaction on Thursday, May 9th. The stock was purchased at an average price of $26.31 per share, with a total value of $43,148.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.31% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of New York Community Bancorp by 155.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 62,130 shares of the financial services provider’s stock worth $585,000 after purchasing an additional 37,804 shares during the period. Commonwealth Bank of Australia lifted its stake in shares of New York Community Bancorp by 16.2% in the 4th quarter. Commonwealth Bank of Australia now owns 111,060 shares of the financial services provider’s stock worth $1,041,000 after purchasing an additional 15,500 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of New York Community Bancorp by 2.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,340,979 shares of the financial services provider’s stock worth $97,303,000 after purchasing an additional 292,953 shares during the period. Brown Advisory Inc. lifted its stake in shares of New York Community Bancorp by 2.0% in the 4th quarter. Brown Advisory Inc. now owns 148,035 shares of the financial services provider’s stock worth $1,393,000 after purchasing an additional 2,875 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of New York Community Bancorp by 8.0% in the 4th quarter. Geode Capital Management LLC now owns 5,174,238 shares of the financial services provider’s stock worth $48,816,000 after purchasing an additional 382,396 shares during the period. Institutional investors own 63.04% of the company’s stock.

New York Community Bancorp Company Profile

New York Community Bancorp, Inc operates as a bank holding company for New York Community Bank that provides banking products and services in Metro New York, New Jersey, Ohio, Florida, and Arizona. The company offers various deposit products, including interest-bearing checking and money market, savings, non-interest-bearing, and individual retirement accounts, as well as certificates of deposit.

Read More: Can systematic risk be avoided?

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

Receive News & Ratings for New York Community Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New York Community Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Royal Bank of Canada Initiates Coverage on New York Community Bancorp
Royal Bank of Canada Initiates Coverage on New York Community Bancorp
Synopsys  Price Target Raised to $152.00 at KeyCorp
Synopsys Price Target Raised to $152.00 at KeyCorp
JPMorgan Chase & Co. Lowers Trimble  to Neutral
JPMorgan Chase & Co. Lowers Trimble to Neutral
Norfolk Southern  Now Covered by Analysts at Goldman Sachs Group
Norfolk Southern Now Covered by Analysts at Goldman Sachs Group
Chiasma  Lowered to Hold at Zacks Investment Research
Chiasma Lowered to Hold at Zacks Investment Research
Beyondspring  Upgraded to Buy at Zacks Investment Research
Beyondspring Upgraded to Buy at Zacks Investment Research


 
© 2006-2019 Zolmax.