JPMorgan Chase & Co. Raises New York Community Bancorp (NYSE:NYCB) Price Target to $12.50

New York Community Bancorp (NYSE:NYCB) had its price target upped by analysts at JPMorgan Chase & Co. from $11.50 to $12.50 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 14.05% from the company’s previous close.

Several other research firms have also commented on NYCB. Barclays raised shares of New York Community Bancorp from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $10.00 to $14.00 in a research report on Thursday, September 26th. Keefe, Bruyette & Woods increased their price target on shares of New York Community Bancorp from $11.25 to $33.75 and gave the stock a “market perform” rating in a research report on Monday, July 15th. StockNews.com upgraded shares of New York Community Bancorp to a “sell” rating in a research note on Friday, July 19th. Raymond James upgraded New York Community Bancorp from an “underperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. Finally, Wedbush reiterated a “neutral” rating and set a $31.50 target price on shares of New York Community Bancorp in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $17.48.

New York Community Bancorp Trading Down 0.4 %

Shares of NYCB stock opened at $10.96 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 3.66. New York Community Bancorp has a 12-month low of $5.10 and a 12-month high of $34.47. The stock has a market capitalization of $3.00 billion, a P/E ratio of 365.33 and a beta of 1.00. The firm’s 50 day moving average is $10.69 and its 200 day moving average is $12.01.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported ($3.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.26) by ($1.89). The firm had revenue of $671.00 million during the quarter, compared to analysts’ expectations of $722.47 million. New York Community Bancorp had a negative return on equity of 4.49% and a negative net margin of 10.78%. The business’s quarterly revenue was down 44.2% on a year-over-year basis. During the same quarter last year, the business earned $4.23 earnings per share. Research analysts expect that New York Community Bancorp will post -2.43 earnings per share for the current year.

Hedge Funds Weigh In On New York Community Bancorp

Several hedge funds have recently modified their holdings of NYCB. Versant Capital Management Inc increased its holdings in New York Community Bancorp by 3,583.0% in the 1st quarter. Versant Capital Management Inc now owns 8,250 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 8,026 shares during the last quarter. AlphaMark Advisors LLC lifted its stake in New York Community Bancorp by 26.0% in the 2nd quarter. AlphaMark Advisors LLC now owns 8,734 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 1,803 shares in the last quarter. Hantz Financial Services Inc. purchased a new stake in New York Community Bancorp in the 2nd quarter worth $28,000. Carmichael Hill & Associates Inc. lifted its stake in New York Community Bancorp by 201.0% in the 2nd quarter. Carmichael Hill & Associates Inc. now owns 9,029 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 6,029 shares in the last quarter. Finally, FinTrust Capital Advisors LLC lifted its stake in New York Community Bancorp by 66.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 9,673 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 3,876 shares in 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.