New York Community Bancorp, Inc. (NYSE:NYCB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.

According to Zacks, “New York Community Bancorp, Inc. is a leading producer of multi-family loans in New York City, with an emphasis on apartment buildings that feature below-market rents. The Company has two bank subsidiaries: New York Community Bank, with 178 branches serving customers throughout Metro New York and New Jersey; and New York Commercial Bank, with 36 branches serving customers in Manhattan, Queens, Brooklyn, Long Island, and Westchester County in New York. Reflecting its growth through a series of acquisitions, the Community Bank operates through five local divisions: Queens County Savings Bank in Queens, Roslyn Savings Bank on Long Island, Richmond County Savings Bank on Staten Island, Roosevelt Savings Bank in Brooklyn, and Garden State Community Bank in New Jersey. Similarly, the Commercial Bank operates 17 of its branches under the name Atlantic Bank. “

Several other equities analysts have also recently weighed in on NYCB. BidaskClub upgraded shares of New York Community Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Barclays PLC lowered their price objective on shares of New York Community Bancorp from $14.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 11th. Piper Jaffray Companies set a $11.00 price objective on shares of New York Community Bancorp and gave the stock a “sell” rating in a research note on Thursday, August 17th. Finally, FBR & Co reiterated a “sell” rating on shares of New York Community Bancorp in a research note on Wednesday, October 25th. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $12.45.

Shares of New York Community Bancorp (NYSE NYCB) opened at $12.84 on Thursday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a market cap of $6,294.13, a PE ratio of 14.79 and a beta of 0.57. New York Community Bancorp has a 1-year low of $11.67 and a 1-year high of $17.68.

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

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NYCB. Mn Services Vermogensbeheer B.V. raised its stake in New York Community Bancorp by 508.8% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 79,072 shares of the financial services provider’s stock worth $1,038,000 after acquiring an additional 66,083 shares during the period. Oregon Public Employees Retirement Fund raised its stake in New York Community Bancorp by 4.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 177,916 shares of the financial services provider’s stock worth $2,336,000 after acquiring an additional 7,553 shares during the period. Aperio Group LLC raised its stake in New York Community Bancorp by 97.4% during the 2nd quarter. Aperio Group LLC now owns 143,877 shares of the financial services provider’s stock worth $1,889,000 after acquiring an additional 70,995 shares during the period. State Treasurer State of Michigan raised its stake in New York Community Bancorp by 1.6% during the 2nd quarter. State Treasurer State of Michigan now owns 201,570 shares of the financial services provider’s stock worth $2,647,000 after acquiring an additional 3,100 shares during the period. Finally, US Bancorp DE raised its stake in New York Community Bancorp by 12.8% during the 2nd quarter. US Bancorp DE now owns 41,972 shares of the financial services provider’s stock worth $551,000 after acquiring an additional 4,757 shares during the period. Institutional investors own 58.97% of the company’s stock.

New York Community Bancorp Company Profile

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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