New York Community Bancorp (NYSE:NYCB) Shares Up 6.1%

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NYCB shares. Citigroup boosted their price target on New York Community Bancorp from $10.50 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 3rd. Raymond James upgraded shares of New York Community Bancorp from an “underperform” rating to a “market perform” rating in a research report on Tuesday. Barclays boosted their price target on shares of 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. Keefe, Bruyette & Woods increased their price objective on shares of New York Community Bancorp from $11.25 to $33.75 and gave the company a “market perform” rating in a report on Monday, July 15th. Finally, StockNews.com raised New York Community Bancorp to a “sell” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $18.91.

New York Community Bancorp Stock Down 0.7 %

The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 3.66. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 397.33 and a beta of 1.00. The business has a 50-day moving average price of $15.83 and a 200-day moving average price of $11.95.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings data 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 analysts’ expectations 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%. New York Community Bancorp’s quarterly revenue was down 44.2% compared to the same quarter last year. During the same period in the prior year, the company posted $4.23 earnings per share. As a group, equities analysts anticipate that New York Community Bancorp, Inc. will post -2.43 earnings per share for the current fiscal year.

New York Community Bancorp Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Saturday, September 7th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Friday, September 6th. New York Community Bancorp’s payout ratio is 133.33%.

Institutional Trading of New York Community Bancorp

A number of hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in New York Community Bancorp during the fourth quarter valued at $77,628,000. Renaissance Technologies LLC grew its stake 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 in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of New York Community Bancorp by 353.5% in 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 purchasing an additional 2,206,140 shares during the period. Private Management Group Inc. lifted its position in shares of New York Community Bancorp by 1,639.1% in the first quarter. Private Management Group Inc. now owns 1,899,114 shares of the financial services provider’s stock worth $6,115,000 after purchasing an additional 1,789,914 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in New York Community Bancorp during the second quarter valued at approximately $5,401,000. Hedge funds and other institutional investors 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.