Bank of America upgraded shares of New York Community Bancorp (NYSE:NYCB) from a neutral rating to a buy rating in a research report report published on Wednesday morning, Marketbeat.com reports.

NYCB has been the subject of several other reports. Keefe, Bruyette & Woods reiterated a hold rating and set a $14.00 target price on shares of New York Community Bancorp in a report on Friday, December 22nd. Barclays lowered their target price on shares of New York Community Bancorp from $14.00 to $12.00 and set an equal weight rating for the company in a report on Wednesday, October 11th. Zacks Investment Research lowered shares of New York Community Bancorp from a hold rating to a sell rating in a report on Wednesday, September 27th. BidaskClub upgraded shares of New York Community Bancorp from a strong sell rating to a sell rating in a report on Wednesday, September 13th. Finally, ValuEngine upgraded shares of New York Community Bancorp from a hold rating to a buy rating in a report on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $13.11.

New York Community Bancorp (NYSE NYCB) traded down $0.14 during mid-day trading on Wednesday, hitting $13.64. 4,637,541 shares of the stock traded hands, compared to its average volume of 4,280,000. New York Community Bancorp has a 1 year low of $11.67 and a 1 year high of $16.18. The stock has a market capitalization of $6,670.00, a price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 1.66 and a beta of 0.59. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.98.

New York Community Bancorp (NYSE:NYCB) last released its earnings results on Wednesday, October 25th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.04. New York Community Bancorp had a net margin of 24.22% and a return on equity of 7.17%. The firm had revenue of $385.27 million during the quarter, compared to analyst estimates of $313.64 million. During the same period last year, the business earned $0.26 earnings per share. analysts forecast that New York Community Bancorp will post 0.68 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. increased its position in shares of New York Community Bancorp by 8.3% during the second quarter. Pacer Advisors Inc. now owns 10,168 shares of the financial services provider’s stock valued at $134,000 after acquiring an additional 779 shares in the last quarter. Commonwealth Bank of Australia increased its position in shares of New York Community Bancorp by 1.5% during the second quarter. Commonwealth Bank of Australia now owns 65,949 shares of the financial services provider’s stock valued at $865,000 after acquiring an additional 1,000 shares in the last quarter. First Allied Advisory Services Inc. increased its position in shares of New York Community Bancorp by 1.9% during the second quarter. First Allied Advisory Services Inc. now owns 71,169 shares of the financial services provider’s stock valued at $950,000 after acquiring an additional 1,294 shares in the last quarter. Gotham Asset Management LLC increased its position in shares of New York Community Bancorp by 6.6% during the second quarter. Gotham Asset Management LLC now owns 28,852 shares of the financial services provider’s stock valued at $379,000 after acquiring an additional 1,794 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of New York Community Bancorp by 0.4% during the second quarter. Prudential Financial Inc. now owns 606,768 shares of the financial services provider’s stock valued at $7,967,000 after acquiring an additional 2,150 shares in the last quarter. 58.44% of the stock is owned by institutional investors.

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About New York Community Bancorp

New York Community Bancorp, Inc is a multi-bank holding company. The Company operates through its subsidiaries, New York Community Bank (the Community Bank) and New York Commercial Bank (the Commercial Bank) (collectively, the Banks). The Company’s operations are divided into two segments: Banking Operations and Residential Mortgage Banking.

Analyst Recommendations for New York Community Bancorp (NYSE:NYCB)

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