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

Posted by Defense World Staff on May 3rd, 2023

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

Several other equities analysts also recently weighed in on NYCB. Bank of America raised their price objective on New York Community Bancorp from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, April 4th. Wedbush raised New York Community Bancorp from a “neutral” rating to an “outperform” rating in a research report on Monday, March 20th. Morgan Stanley dropped their price target on New York Community Bancorp from $10.50 to $10.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 5th. Jefferies Financial Group raised New York Community Bancorp from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Tuesday, April 11th. Finally, Raymond James assumed coverage on New York Community Bancorp in a research report on Wednesday, March 22nd. They set a “strong-buy” rating and a $13.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.54.

New York Community Bancorp Stock Down 5.4 %

NYCB opened at $10.13 on Wednesday. The company has a debt-to-equity ratio of 2.56, a current ratio of 1.22 and a quick ratio of 1.20. The business has a 50 day simple moving average of $8.71 and a 200-day simple moving average of $9.03. The stock has a market capitalization of $7.32 billion, a P/E ratio of 8.10, a P/E/G ratio of 0.76 and a beta of 1.05. New York Community Bancorp has a 12 month low of $5.81 and a 12 month high of $11.02.

New York Community Bancorp (NYSE:NYCB – Get Rating) last posted its quarterly earnings results on Friday, April 28th. The financial services provider reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $623.11 million. New York Community Bancorp had a return on equity of 9.32% and a net margin of 27.79%. The company’s quarterly revenue was up 666.8% compared to the same quarter last year. During the same period last year, the firm earned $0.32 EPS. On average, equities analysts anticipate that New York Community Bancorp will post 1.21 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Reginald E. Davis sold 4,600 shares of New York Community Bancorp stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $9.97, for a total value of $45,862.00. Following the transaction, the executive vice president now owns 123,033 shares in the company, valued at $1,226,639.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Reginald E. Davis sold 4,600 shares of New York Community Bancorp stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $9.97, for a total value of $45,862.00. Following the transaction, the executive vice president now owns 123,033 shares in the company, valued at $1,226,639.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronald A. Rosenfeld acquired 30,800 shares of New York Community Bancorp stock in a transaction on Monday, February 6th. The shares were bought at an average price of $24.57 per share, for a total transaction of $756,756.00. Following the purchase, the director now owns 30,800 shares of the company’s stock, valued at $756,756. The disclosure for this purchase can be found here. Company insiders own 1.58% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NYCB. Spire Wealth Management increased its position in shares of New York Community Bancorp by 4.2% during the fourth quarter. Spire Wealth Management now owns 25,823 shares of the financial services provider’s stock worth $222,000 after acquiring an additional 1,033 shares during the last quarter. Lineweaver Wealth Advisors LLC increased its holdings in New York Community Bancorp by 8.0% in the first quarter. Lineweaver Wealth Advisors LLC now owns 14,679 shares of the financial services provider’s stock valued at $133,000 after buying an additional 1,089 shares during the last quarter. Kestra Private Wealth Services LLC increased its holdings in New York Community Bancorp by 4.3% in the fourth quarter. Kestra Private Wealth Services LLC now owns 26,761 shares of the financial services provider’s stock valued at $230,000 after buying an additional 1,091 shares during the last quarter. Commerce Bank increased its holdings in New York Community Bancorp by 7.3% in the third quarter. Commerce Bank now owns 17,920 shares of the financial services provider’s stock valued at $153,000 after buying an additional 1,224 shares during the last quarter. Finally, Inspire Investing LLC increased its holdings in New York Community Bancorp by 4.4% in the third quarter. Inspire Investing LLC now owns 29,329 shares of the financial services provider’s stock valued at $250,000 after buying an additional 1,225 shares during the last quarter. Institutional investors and hedge funds own 63.17% of the company’s stock.

About New York Community Bancorp

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New York Community Bancorp, Inc is a bank holding company, which engages in the provision of multi-family loans on non-luxury rent-regulated buildings that feature below-market rents. It also offers financial products and services to individuals and businesses. The company was founded on July 20, 1993 and is headquartered in Westbury, NY.