New York Community Bancorp (NYSE:NYCB) Downgraded by Stephens to “Underweight”

New York Community Bancorp (NYSE:NYCB – Get Rating) was downgraded by Stephens from an “equal weight” rating to an “underweight” rating in a research report issued on Tuesday, The Fly reports. They currently have a $9.00 price target on the financial services provider’s stock, down from their previous price target of $12.00. Stephens’ price objective indicates a potential downside of 4.66% from the stock’s previous close.

Several other analysts have also recently commented on the stock. StockNews.com began coverage on shares of New York Community Bancorp in a research note on Thursday, March 31st. They set a “hold” rating for the company. B. Riley decreased their price objective on shares of New York Community Bancorp from $19.00 to $16.00 in a research note on Tuesday, April 12th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $13.10.

NYCB stock opened at $9.44 on Tuesday. The firm has a 50 day moving average of $10.67 and a 200 day moving average of $11.77. The stock has a market capitalization of $4.41 billion, a PE ratio of 7.80, a price-to-earnings-growth ratio of 0.69 and a beta of 0.96. The company has a quick ratio of 1.36, a current ratio of 1.30 and a debt-to-equity ratio of 2.39. New York Community Bancorp has a 52 week low of $9.21 and a 52 week high of $14.33.

New York Community Bancorp (NYSE:NYCB – Get Rating) last released its earnings results on Wednesday, April 27th. The financial services provider reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. New York Community Bancorp had a net margin of 34.51% and a return on equity of 9.80%. The company had revenue of $346.00 million during the quarter, compared to analysts’ expectations of $347.81 million. During the same period last year, the business earned $0.29 EPS. New York Community Bancorp’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities research analysts expect that New York Community Bancorp will post 1.34 earnings per share for the current year.

Several large investors have recently bought and sold shares of NYCB. Balyasny Asset Management LLC increased its holdings in shares of New York Community Bancorp by 264.9% during the 3rd quarter. Balyasny Asset Management LLC now owns 7,204,105 shares of the financial services provider’s stock valued at $92,717,000 after purchasing an additional 5,229,770 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in shares of New York Community Bancorp by 445.8% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 5,179,816 shares of the financial services provider’s stock valued at $66,664,000 after purchasing an additional 4,230,809 shares in the last quarter. Norges Bank purchased a new position in shares of New York Community Bancorp during the 4th quarter valued at approximately $39,945,000. Invesco Ltd. increased its holdings in shares of New York Community Bancorp by 87.3% during the 3rd quarter. Invesco Ltd. now owns 4,385,296 shares of the financial services provider’s stock valued at $56,438,000 after purchasing an additional 2,044,547 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of New York Community Bancorp by 3,271.2% during the 4th quarter. Marshall Wace LLP now owns 1,864,309 shares of the financial services provider’s stock valued at $22,763,000 after purchasing an additional 1,809,008 shares in the last quarter. 61.01% of the stock is owned by hedge funds and other institutional investors.

About New York Community Bancorp (Get Rating)

New York Community Bancorp, Inc operates as the 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 accepts various deposit products, such as interest-bearing checking and money market, savings, non-interest-bearing, and individual retirement accounts, as well as certificates of deposit.

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