New York Community Bancorp (NYSE:NYCB) Trading 6.1% Higher

New York Community Bancorp, Inc. (NYSE:NYCB)’s share price traded up 6.1% during trading on Monday . The stock traded as high as $11.32 and last traded at $11.25. 1,690,004 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 8,614,188 shares. The stock had previously closed at $10.60.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Barclays upped their price objective on New York Community Bancorp from $12.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Wedbush restated a “neutral” rating and issued a $31.50 price objective on shares of New York Community Bancorp in a research report on Friday, July 26th. Citigroup upped their target price on New York Community Bancorp from $10.50 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods upped their target price on New York Community Bancorp from $11.25 to $33.75 and gave the stock a “market perform” rating in a research note on Monday, July 15th. Finally, StockNews.com raised New York Community Bancorp to a “sell” rating in a research note on Friday, July 19th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $18.91.

New York Community Bancorp Trading Up 6.2 %

The firm has a market capitalization of $4.19 billion, a PE ratio of 375.00 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 $15.77 and a two-hundred day moving average price of $11.96.

New York Community Bancorp (NYSE:NYCB) last announced its earnings results on Thursday, July 25th. The financial services provider reported ($3.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.26) by ($1.89). New York Community Bancorp had a negative net margin of 10.78% and a negative return on equity of 4.49%. The firm had revenue of $671.00 million for the quarter, compared to analysts’ expectations of $722.47 million. During the same quarter last year, the business earned $4.23 earnings per share. The business’s revenue was down 44.2% compared to the same quarter last year. Analysts expect that New York Community Bancorp, Inc. will post -2.43 EPS for the current fiscal year.

New York Community Bancorp Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Saturday, September 7th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend is Friday, September 6th. New York Community Bancorp’s dividend payout ratio is currently 133.33%.

Institutional Investors Weigh In On New York Community Bancorp

A number of hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake in New York Community Bancorp by 9.6% during the second quarter. Bank of New York Mellon Corp now owns 9,654,656 shares of the financial services provider’s stock worth $31,088,000 after purchasing an additional 844,785 shares during the last quarter. Norges Bank purchased a new stake in New York Community Bancorp during the fourth quarter worth approximately $77,628,000. Kahn Brothers Group Inc. lifted its stake in New York Community Bancorp by 0.9% during the first quarter. Kahn Brothers Group Inc. now owns 6,213,289 shares of the financial services provider’s stock worth $20,007,000 after purchasing an additional 53,275 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in New York Community Bancorp by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,553,207 shares of the financial services provider’s stock worth $46,579,000 after purchasing an additional 33,122 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in New York Community Bancorp by 995.2% during the second quarter. Renaissance Technologies LLC now owns 4,116,786 shares of the financial services provider’s stock worth $13,256,000 after purchasing an additional 3,740,900 shares during the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

About New York Community Bancorp

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.