New York Community Bancorp (NYSE:NYCB) Shares Up 4.4%

New York Community Bancorp, Inc. (NYSE:NYCB)’s stock price rose 4.4% during mid-day trading on Friday . The stock traded as high as $10.81 and last traded at $10.77. Approximately 667,592 shares traded hands during trading, a decline of 92% from the average daily volume of 8,641,444 shares. The stock had previously closed at $10.32.

Analyst Ratings Changes

A number of brokerages have commented on NYCB. StockNews.com upgraded New York Community Bancorp to a “sell” rating in a research report on Friday, July 19th. Keefe, Bruyette & Woods raised their target price on shares of 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. Wedbush reaffirmed a “neutral” rating and set a $31.50 price target on shares of New York Community Bancorp in a report on Friday, July 26th. Barclays increased their price objective on shares of New York Community Bancorp from $12.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Finally, Citigroup lifted their target price on shares of New York Community Bancorp from $10.50 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, July 3rd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $18.91.

New York Community Bancorp Stock Up 4.8 %

The company has a market capitalization of $2.96 billion, a PE ratio of 360.33 and a beta of 1.00. The business has a 50-day moving average of $15.74 and a 200 day moving average of $12.09. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.27 and a quick ratio of 1.17.

New York Community Bancorp (NYSE:NYCB) last posted 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). The firm had revenue of $671.00 million for the quarter, compared to the consensus estimate of $722.47 million. New York Community Bancorp had a negative net margin of 10.78% and a negative return on equity of 4.49%. The firm’s revenue 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. Equities research analysts predict that New York Community Bancorp, Inc. will post -2.45 earnings per share for the current year.

New York Community Bancorp Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Saturday, September 7th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.37%. The ex-dividend date is Friday, September 6th. New York Community Bancorp’s dividend payout ratio is 133.33%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its holdings in shares of New York Community Bancorp by 30.8% in the 4th quarter. International Assets Investment Management LLC now owns 47,324 shares of the financial services provider’s stock worth $484,000 after purchasing an additional 11,137 shares during the period. Axxcess Wealth Management LLC increased its position in New York Community Bancorp by 88.9% during the fourth quarter. Axxcess Wealth Management LLC now owns 19,340 shares of the financial services provider’s stock valued at $198,000 after acquiring an additional 9,100 shares during the last quarter. Spire Wealth Management raised its stake in shares of New York Community Bancorp by 8.3% in the fourth quarter. Spire Wealth Management now owns 36,250 shares of the financial services provider’s stock valued at $361,000 after acquiring an additional 2,775 shares during the period. Private Advisor Group LLC lifted its holdings in shares of New York Community Bancorp by 3.5% in the 4th quarter. Private Advisor Group LLC now owns 164,714 shares of the financial services provider’s stock worth $1,685,000 after acquiring an additional 5,592 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of New York Community Bancorp by 0.7% during the 4th 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 period. Hedge funds and other institutional investors own 67.88% of the company’s stock.

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.