New York Community Bancorp (NYSE:NYCB) Stock Price Down 6.8%

New York Community Bancorp, Inc. (NYSE:NYCB)’s stock price was down 6.8% during mid-day trading on Tuesday . The company traded as low as $9.93 and last traded at $9.94. Approximately 974,551 shares were traded during trading, a decline of 89% from the average daily volume of 8,603,721 shares. The stock had previously closed at $10.66.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NYCB shares. Wedbush reiterated a “neutral” rating and set a $31.50 target price on shares of New York Community Bancorp in a research report on Friday, July 26th. Citigroup increased their target price on New York Community Bancorp from $10.50 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, July 3rd. Keefe, Bruyette & Woods increased their target price on New York Community Bancorp from $11.25 to $33.75 and gave the company a “market perform” rating in a research report on Monday, July 15th. Barclays increased their target price on New York Community Bancorp from $12.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Finally, StockNews.com upgraded New York Community Bancorp to a “sell” rating in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, New York Community Bancorp presently has a consensus rating of “Hold” and a consensus price target of $18.91.

New York Community Bancorp Trading Up 1.8 %

The firm has a market capitalization of $2.73 billion, a PE ratio of 333.17 and a beta of 1.00. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 3.66. The business has a fifty day moving average price of $15.75 and a two-hundred day moving average price of $12.02.

New York Community Bancorp (NYSE:NYCB) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported ($3.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.26) by ($1.89). The business had revenue of $671.00 million for the quarter, compared to analysts’ expectations of $722.47 million. New York Community Bancorp had a negative return on equity of 4.49% and a negative net margin of 10.78%. The business’s revenue for the quarter was down 44.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.23 earnings per share. Analysts expect that New York Community Bancorp, Inc. will post -2.45 EPS for the current fiscal year.

New York Community Bancorp Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Saturday, September 7th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, September 6th. New York Community Bancorp’s dividend payout ratio is presently 133.33%.

Hedge Funds Weigh In On New York Community Bancorp

A number of hedge funds have recently modified their holdings of the business. Norges Bank purchased a new position in New York Community Bancorp during the 4th quarter valued at about $77,628,000. Renaissance Technologies LLC boosted its holdings in New York Community Bancorp by 995.2% during the 2nd quarter. Renaissance Technologies LLC now owns 4,116,786 shares of the financial services provider’s stock valued at $13,256,000 after acquiring an additional 3,740,900 shares during the period. Goldman Sachs Group Inc. boosted its holdings in New York Community Bancorp by 353.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,830,195 shares of the financial services provider’s stock valued at $28,953,000 after acquiring an additional 2,206,140 shares during the period. Private Management Group Inc. boosted its holdings in New York Community Bancorp by 1,639.1% during the 1st quarter. Private Management Group Inc. now owns 1,899,114 shares of the financial services provider’s stock valued at $6,115,000 after acquiring an additional 1,789,914 shares during the period. Finally, WINTON GROUP Ltd purchased a new position in New York Community Bancorp during the 2nd quarter valued at about $5,401,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

New York Community Bancorp Company Profile

New York Community Bancorp, Inc operates as the bank holding company for Flagstar Bank, N.A. that provides banking products and services in the United States. The company's deposit products include interest-bearing checking and money market, savings, non-interest-bearing, and retirement accounts, as well as certificates of deposit.