The Deutsche Bank AG Cuts New York Community Bancorp Inc. (NYCB) Price Target to $15.00

The Deutsche Bank AG Cuts New York Community Bancorp Inc. (NYCB) Price Target to $15.00

New York Community Bancorp Inc. (NYSE:NYCB) had its price objective cut by Deutsche Bank AG from $15.50 to $15.00 in a research report sent to investors on Tuesday morning. They currently have a hold rating on the financial services provider’s stock.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. reissued a sell rating on shares of New York Community Bancorp in a research report on Saturday, July 9th. Wedbush started coverage on New York Community Bancorp in a research report on Thursday, October 6th. They issued a neutral rating and a $15.00 price objective on the stock. Zacks Investment Research lowered New York Community Bancorp from a hold rating to a sell rating in a research report on Thursday, September 1st. Keefe, Bruyette & Woods cut their price objective on New York Community Bancorp from $15.50 to $15.00 and set a market perform rating on the stock in a research report on Thursday, July 28th. Finally, Barclays PLC cut their price objective on New York Community Bancorp from $17.00 to $16.00 and set an equal weight rating on the stock in a research report on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $16.58.

Shares of New York Community Bancorp (NYSE:NYCB) opened at 13.89 on Tuesday. New York Community Bancorp has a 12-month low of $13.85 and a 12-month high of $19.18. The stock’s market capitalization is $6.77 billion. The stock has a 50 day moving average price of $14.59 and a 200 day moving average price of $14.89.

New York Community Bancorp (NYSE:NYCB) last issued its earnings results on Wednesday, July 27th. The financial services provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.28 by $0.02. New York Community Bancorp had a positive return on equity of 8.74% and a negative net margin of 1.82%. During the same period in the previous year, the business earned $0.28 earnings per share. On average, equities analysts anticipate that New York Community Bancorp will post $1.08 earnings per share for the current fiscal year.

In other news, Director Dominick Ciampa purchased 9,350 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The stock was acquired at an average cost of $15.43 per share, for a total transaction of $144,270.50. Following the completion of the purchase, the director now owns 142,446 shares of the company’s stock, valued at $2,197,941.78. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.97% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of NYCB. Advisory Services Network LLC increased its position in New York Community Bancorp by 7.7% in the second quarter. Advisory Services Network LLC now owns 7,621 shares of the financial services provider’s stock worth $114,000 after buying an additional 548 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in shares of New York Community Bancorp by 2,107.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 8,830 shares of the financial services provider’s stock worth $132,000 after buying an additional 8,430 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of New York Community Bancorp by 10.5% in the second quarter. Pacer Advisors Inc. now owns 9,213 shares of the financial services provider’s stock worth $138,000 after buying an additional 874 shares during the last quarter. Seven Eight Capital LLC bought a new position in shares of New York Community Bancorp during the first quarter worth approximately $151,000. Finally, Park National Corp OH increased its position in shares of New York Community Bancorp by 9.0% in the second quarter. Park National Corp OH now owns 11,766 shares of the financial services provider’s stock worth $176,000 after buying an additional 975 shares during the last quarter. Institutional investors and hedge funds own 60.93% of the company’s stock.

About New York Community Bancorp

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