Analyst Rating Update on New York Community Bancorp (NYCB)

New York Community Bancorp (NYCB) : 11 analysts are covering New York Community Bancorp (NYCB) and their average rating on the stock is 2.41, which is read as a Buy. 3 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. New York Community Bancorp (NYCB) also receives 2 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 1 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. A total of 5 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

New York Community Bancorp (NYCB) : 11 Wall Street analysts covering New York Community Bancorp (NYCB) believe that the average level the stock could reach for the short term is $16.05. The maximum price target given is $19 and the minimum target for short term is around $15, hence the standard deviation is calculated at $1.39.

Company shares have received an average consensus rating of Hold for the current week Also, Barclays maintains their rating on the shares of New York Community Bancorp (NYSE:NYCB). The current rating of the shares is Equalweight. Equity Analysts at the Firm lowers the price target to $16 per share from $17 per share. The rating by the firm was issued on July 28, 2016.


New York Community Bancorp (NYSE:NYCB): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $14.39 and $14.36 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $14.48. The buying momentum continued till the end and the stock did not give up its gains. It closed at $14.47, notching a gain of 0.70% for the day. The total traded volume was 3,954,438 . The stock had closed at $14.37 on the previous day.

New York Community Bancorp, Inc. is a multi-bank holding company and has two primary subsidiaries: New York Community Bank (Community Bank) and New York Commercial Bank (Commercial Bank). The Community Bank is a New York State-chartered savings bank with 242 branches that operates through seven local divisions. The Community Bank is a producer of multi-family loans in New York City. In addition to multi-family loans, it originates commercial real estate loans (primarily in New York City, as well as Long Island and New Jersey) and, to a much lesser extent, acquisition, development, and construction (ADC) loans, and commercial and industrial (C&I) loans. The Commercial Bank is a New York State-chartered commercial bank with 30 branches in Manhattan, Queens, Brooklyn, Westchester County, and Long Island, including 18 that operate under the name Atlantic Bank. The Commercial Bank offers 24-hour banking online and by phone.

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