Royal Bank of Canada Lowers New York Community Bancorp (NYSE:NYCB) Price Target to $4.00

New York Community Bancorp (NYSE:NYCB) had its price objective cut by research analysts at Royal Bank of Canada from $5.00 to $4.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the financial services provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 35.14% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Citigroup dropped their target price on New York Community Bancorp from $5.00 to $3.50 and set a “neutral” rating for the company in a research report on Thursday, March 7th. TheStreet lowered New York Community Bancorp from a “b-” rating to a “c+” rating in a research report on Monday, February 5th. StockNews.com lowered New York Community Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, February 1st. Keefe, Bruyette & Woods lowered New York Community Bancorp from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $14.00 to $12.00 in a research report on Monday, December 18th. Finally, DA Davidson downgraded shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and decreased their price target for the company from $8.50 to $5.00 in a research note on Thursday, February 8th. Three investment analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $5.43.

New York Community Bancorp Trading Down 8.1 %

NYCB opened at $2.96 on Tuesday. The firm has a market cap of $2.36 billion, a P/E ratio of 0.89, a P/E/G ratio of 4.65 and a beta of 0.91. New York Community Bancorp has a 12 month low of $1.70 and a 12 month high of $14.22. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 2.70. The stock has a 50-day moving average of $4.04 and a 200 day moving average of $7.97.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) EPS 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 analysts’ expectations of $935.90 million. During the same quarter in the prior year, the business posted $0.25 EPS. As a group, research analysts forecast that New York Community Bancorp will post 0.07 EPS for the current year.

Insider Buying and Selling

In other New York Community Bancorp news, CEO Thomas R. Cangemi purchased 11,310 shares of New York Community Bancorp stock in a transaction dated Friday, February 9th. The shares were acquired at an average cost of $4.41 per share, with a total value of $49,877.10. Following the completion of the transaction, the chief executive officer now owns 69,704 shares in the company, valued at approximately $307,394.64. The transaction was disclosed in a filing with the SEC, which is available at this link. In other New York Community Bancorp news, CEO Thomas R. Cangemi purchased 11,310 shares of New York Community Bancorp stock in a transaction dated Friday, February 9th. The shares were acquired at an average cost of $4.41 per share, with a total value of $49,877.10. Following the completion of the transaction, the chief executive officer now owns 69,704 shares in the company, valued at approximately $307,394.64. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Alessandro Dinello purchased 50,000 shares of New York Community Bancorp stock in a transaction dated Friday, February 9th. The shares were acquired at an average cost of $4.19 per share, for a total transaction 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 disclosure for this purchase can be found here. Insiders acquired 213,410 shares of company stock valued at $875,626 over the last 90 days. Corporate insiders own 1.62% of the company’s stock.

Institutional Investors Weigh In On New York Community Bancorp

Several hedge funds have recently added to or reduced their stakes in NYCB. JPMorgan Chase & Co. raised its position in shares of New York Community Bancorp by 6.2% during the 1st quarter. JPMorgan Chase & Co. now owns 1,081,423 shares of the financial services provider’s stock worth $11,593,000 after purchasing an additional 63,418 shares during the last quarter. American Century Companies Inc. raised its position in shares of New York Community Bancorp by 95.1% during the 1st quarter. American Century Companies Inc. now owns 146,581 shares of the financial services provider’s stock worth $1,571,000 after purchasing an additional 71,460 shares during the last quarter. US Bancorp DE raised its position in shares of New York Community Bancorp by 2.7% during the 1st quarter. US Bancorp DE now owns 60,084 shares of the financial services provider’s stock worth $644,000 after purchasing an additional 1,587 shares during the last quarter. AlphaCrest Capital Management LLC raised its position in shares of New York Community Bancorp by 122.0% during the 1st quarter. AlphaCrest Capital Management LLC now owns 36,608 shares of the financial services provider’s stock worth $392,000 after purchasing an additional 20,121 shares during the last quarter. Finally, Natixis Advisors L.P. acquired a new position in shares of New York Community Bancorp during the 1st quarter worth about $235,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

New York Community Bancorp Company Profile

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.