New York Community Bancorp (NYSE:NYCB) Trading Up 8.2%

Shares of New York Community Bancorp, Inc. (NYSE:NYCB) were up 8.2% on Thursday . The company traded as high as $11.66 and last traded at $11.53. Approximately 2,730,557 shares traded hands during trading, a decline of 68% from the average daily volume of 8,662,800 shares. The stock had previously closed at $10.66.

Analysts Set New Price Targets

A number of research firms recently issued reports on NYCB. Barclays upgraded New York Community Bancorp from an “equal weight” rating to an “overweight” rating and set a $14.00 price objective for the company in a report on Thursday. StockNews.com upgraded New York Community Bancorp to a “sell” rating in a research note on Friday, July 19th. Keefe, Bruyette & Woods lifted 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. Raymond James upgraded New York Community Bancorp from an “underperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. Finally, Citigroup boosted their price target on New York Community Bancorp from $3.50 to $4.00 and gave the company a “neutral” rating in a report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $9.70.

New York Community Bancorp Price Performance

The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 380.00 and a beta of 1.00. The stock’s fifty day moving average price is $14.18 and its two-hundred day moving average price is $7.75. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 3.66.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings data 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 firm had revenue of $671.00 million during 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%. The business’s quarterly revenue was down 44.2% on a year-over-year basis. During the same quarter last year, the business earned $4.23 earnings per share. Equities research analysts expect that New York Community Bancorp, Inc. will post -2.43 EPS for the current year.

New York Community Bancorp Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Saturday, September 7th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.35%. New York Community Bancorp’s dividend payout ratio (DPR) is 133.33%.

Institutional Trading of New York Community Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the stock. Moody National Bank Trust Division boosted its holdings in shares of New York Community Bancorp by 49.6% in the 1st quarter. Moody National Bank Trust Division now owns 32,481 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 10,770 shares during the last quarter. Virtu Financial LLC grew its stake in New York Community Bancorp by 24.6% during the 4th quarter. Virtu Financial LLC now owns 70,945 shares of the financial services provider’s stock valued at $726,000 after purchasing an additional 14,011 shares in the last quarter. Stifel Financial Corp raised its position in shares of New York Community Bancorp by 6.8% in the 4th quarter. Stifel Financial Corp now owns 2,051,809 shares of the financial services provider’s stock valued at $20,990,000 after purchasing an additional 129,889 shares in the last quarter. Orion Portfolio Solutions LLC increased its position in shares of New York Community Bancorp by 9.0% in the 4th quarter. Orion Portfolio Solutions LLC now owns 227,141 shares of the financial services provider’s stock worth $2,405,000 after purchasing an additional 18,682 shares during the last quarter. Finally, Hilltop Holdings Inc. acquired a new stake in New York Community Bancorp during the fourth quarter valued at approximately $243,000. 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.