New York Community Bancorp (NYSE:NYCB) Shares Up 4.9%

New York Community Bancorp, Inc. (NYSE:NYCB) shares rose 4.9% on Friday . The stock traded as high as $3.20 and last traded at $3.19. Approximately 5,351,040 shares were traded during trading, a decline of 81% from the average daily volume of 27,845,467 shares. The stock had previously closed at $3.04.

Wall Street Analyst Weigh In

Several research firms have recently commented on NYCB. Citigroup lowered their price target on shares of New York Community Bancorp from $5.00 to $3.50 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. Royal Bank of Canada lowered their price target on shares of New York Community Bancorp from $5.00 to $4.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 9th. Morgan Stanley reduced their price objective on shares of New York Community Bancorp from $6.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 7th. StockNews.com raised shares of New York Community Bancorp to a “sell” rating in a research note on Monday, April 29th. Finally, Wedbush raised shares of New York Community Bancorp from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $3.00 to $3.50 in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $5.39.

New York Community Bancorp Stock Performance

The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 327.00 and a beta of 0.98. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.26 and a current ratio of 1.27. The company’s fifty day simple moving average is $3.27 and its two-hundred day simple moving average is $5.32.

New York Community Bancorp’s stock is going to reverse split on Wednesday, July 31st. The 1-3 reverse split was announced on Thursday, June 27th. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, July 30th.

New York Community Bancorp (NYSE:NYCB) last posted its quarterly earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.01. New York Community Bancorp had a net margin of 0.62% and a return on equity of 2.91%. The company had revenue of $633.00 million for the quarter, compared to the consensus estimate of $776.81 million. During the same period last year, the firm posted $0.23 EPS. The company’s revenue for the quarter was down 76.1% on a year-over-year basis. Equities research analysts predict that New York Community Bancorp, Inc. will post -0.49 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 Monday, June 17th. Investors of record on Friday, June 7th were given a $0.01 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.04 annualized dividend and a yield of 1.24%. New York Community Bancorp’s dividend payout ratio is presently 400.00%.

Institutional Trading of New York Community Bancorp

Several hedge funds have recently bought and sold shares of NYCB. Orion Capital Management LLC bought a new stake in shares of New York Community Bancorp during the 3rd quarter worth about $28,000. Naples Money Management LLC acquired a new position in shares of New York Community Bancorp in the 4th quarter worth approximately $30,000. Wetzel Investment Advisors Inc. acquired a new position in shares of New York Community Bancorp in the 4th quarter worth approximately $40,000. Quarry LP grew its stake in shares of New York Community Bancorp by 585.5% in the 4th quarter. Quarry LP now owns 4,031 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 3,443 shares during the last quarter. Finally, Lindbrook Capital LLC grew its stake in shares of New York Community Bancorp by 146.4% in the 4th quarter. Lindbrook Capital LLC now owns 6,346 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 3,770 shares during the last quarter. 67.88% of the stock is currently owned by 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.