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

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

A number of other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. lowered shares of New York Community Bancorp from an “overweight” rating to a “neutral” rating and cut their target price for the company from $11.50 to $5.50 in a research note on Wednesday, February 7th. Jefferies Financial Group lowered shares of New York Community Bancorp from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $13.00 to $7.00 in a research note on Thursday, February 1st. TheStreet lowered shares of New York Community Bancorp from a “b-” rating to a “c+” rating in a research note on Monday, February 5th. Bank of America lowered shares of New York Community Bancorp from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $8.50 to $5.00 in a research note on Wednesday, February 7th. Finally, Wedbush dropped their price objective on shares of New York Community Bancorp from $3.50 to $3.00 and set an “underperform” rating on the stock in a research note on Thursday, March 7th. Three research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, New York Community Bancorp presently has an average rating of “Hold” and a consensus target price of $5.43.

New York Community Bancorp Stock Performance

Shares of New York Community Bancorp stock opened at $2.64 on Monday. The firm has a market cap of $2.11 billion, a PE ratio of 0.79 and a beta of 0.92. The firm’s 50-day simple moving average is $3.42 and its 200-day simple moving average is $7.12. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.17 and a current ratio of 1.18. 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 issued its earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.56). The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $935.90 million. New York Community Bancorp had a net margin of 28.96% and a return on equity of 6.22%. During the same quarter last year, the company posted $0.25 EPS. Equities analysts forecast that New York Community Bancorp will post -0.08 earnings per share for the current fiscal year.

Insider Activity

In other New York Community Bancorp news, EVP Lee Matthew Smith bought 25,000 shares of New York Community Bancorp stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average cost of $4.05 per share, for a total transaction of $101,250.00. Following the completion of the acquisition, the executive vice president now owns 1,440,683 shares of the company’s stock, valued at approximately $5,834,766.15. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Alessandro Dinello acquired 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $4.19 per share, with a total value of $209,500.00. Following the purchase, the chairman now owns 114,305 shares of the company’s stock, valued at approximately $478,937.95. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Lee Matthew Smith bought 25,000 shares of the business’s stock in a transaction on Friday, February 9th. The stock was bought at an average price of $4.05 per share, with a total value of $101,250.00. Following the transaction, the executive vice president now owns 1,440,683 shares in the company, valued at $5,834,766.15. The disclosure for this purchase can be found here. Insiders purchased 213,410 shares of company stock worth $875,626 over the last three months. Corporate insiders own 1.62% of the company’s stock.

Institutional Investors Weigh In On New York Community Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NYCB. Norges Bank bought a new position in shares of New York Community Bancorp during the 4th quarter valued at $77,628,000. Wellington Management Group LLP grew its stake in New York Community Bancorp by 7.5% in the 3rd quarter. Wellington Management Group LLP now owns 67,668,954 shares of the financial services provider’s stock valued at $767,366,000 after buying an additional 4,723,876 shares during the last quarter. Westfield Capital Management Co. LP grew its position in New York Community Bancorp by 154.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 5,135,955 shares of the financial services provider’s stock worth $58,242,000 after purchasing an additional 3,114,070 shares during the last quarter. Goldman Sachs Group Inc. grew its position in New York Community Bancorp by 353.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,830,195 shares of the financial services provider’s stock worth $28,953,000 after purchasing an additional 2,206,140 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its position in New York Community Bancorp by 187.4% in the 4th quarter. Rafferty Asset Management LLC now owns 2,466,622 shares of the financial services provider’s stock worth $25,234,000 after purchasing an additional 1,608,267 shares during the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

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.