Morgan Stanley Maintains New York Community Bancorp to Overweight with Price Target $16.50

Brokerage firm Morgan Stanley Maintains its rating on New York Community Bancorp(NYSE:NYCB). In a research note issued to the investors, the brokerage major Lowers the price-target to $16.50 per share. The shares have been rated Overweight. The rating by Morgan Stanley was issued on Aug 1, 2016.

In a different note, On Jul 28, 2016, Barclays said it Maintains its rating on New York Community Bancorp. In the research note, the firm Lowers the price-target to $17.00 per share. The shares have been rated ‘Equalweight’ by the firm. On Jul 28, 2016, Keefe Bruyette & Woods said it Maintains its rating on New York Community Bancorp. In the research note, the firm Lowers the price-target to $15.50 per share. The shares have been rated ‘Market Perform’ by the firm. On Jul 7, 2016, JP Morgan said it Maintains its rating on New York Community Bancorp. In the research note, the firm Lowers the price-target to $15.00 per share. The shares have been rated ‘Underweight’ by the firm.

New York Community Bancorp (NYCB) shares turned negative on Mondays trading session with the shares closing down -0.14 points or -0.97% at a volume of 36,31,935. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $14.62. The peak price level was also seen at $14.62 while the days lowest was $14.36. Finally the shares closed at $14.36. The 52-week high of the shares is $19.18 while the 52-week low is $14.1025. According to the latest information available, the market cap of the company is $6,994 M.

New York Community Bancorp(NYCB) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $325.57M. Analysts had an estimated revenue of $323.76M. Earnings per share were $0.26. Analysts had estimated an EPS of $0.28.

Several Insider Transactions has been reported to the SEC. On May 4, 2016, Dominick Ciampa (director) purchased 10,000 shares at $14.48 per share price.Also, On Dec 9, 2015, Lawrence Jr. Rosano (director) purchased 1,500 shares at $16.58 per share price.On May 4, 2015, Lawrence J. Savarese (director) purchased 4,400 shares at $17.07 per share price, according to the Form-4 filing with the securities and exchange commission.

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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