TheStreet Lowers New York Community Bancorp (NYSE:NYCB) to C+

New York Community Bancorp (NYSE:NYCBGet Rating) was downgraded by research analysts at TheStreet from a “b” rating to a “c+” rating in a research report issued to clients and investors on Thursday, TheStreetRatingsTable reports.

Several other research analysts have also recently issued reports on NYCB. StockNews.com began coverage on shares of New York Community Bancorp in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Stephens cut shares of New York Community Bancorp from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $12.00 to $9.00 in a research report on Tuesday. Finally, B. Riley lowered their price objective on shares of New York Community Bancorp from $19.00 to $16.00 in a research report on Tuesday, April 12th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.62.

Shares of NYSE:NYCB opened at $9.25 on Thursday. New York Community Bancorp has a 12 month low of $9.10 and a 12 month high of $14.33. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of 7.64, a PEG ratio of 0.72 and a beta of 0.96. The stock’s 50 day moving average price is $10.52 and its 200 day moving average price is $11.68. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.30 and a quick ratio of 1.36.

New York Community Bancorp (NYSE:NYCBGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. The company had revenue of $346.00 million for the quarter, compared to analysts’ expectations of $347.81 million. New York Community Bancorp had a return on equity of 9.80% and a net margin of 34.51%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.29 earnings per share. On average, sell-side analysts expect that New York Community Bancorp will post 1.34 EPS for the current year.

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

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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