New York Community Bancorp (NYSE:NYCB) Shares Gap Down - Should You Sell?

New York Community Bancorp, Inc. (NYSE:NYCB - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $11.50, but opened at $10.82. New York Community Bancorp shares last traded at $10.63, with a volume of 3,591,111 shares traded.

Analyst Ratings Changes

Several equities research analysts have commented on NYCB shares. Raymond James upgraded New York Community Bancorp from an "underperform" rating to a "market perform" rating in a research note on Tuesday, September 17th. Citigroup lifted their price objective on New York Community Bancorp from $10.50 to $12.00 and gave the company a "neutral" rating in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. raised their price target on New York Community Bancorp from $11.50 to $12.50 and gave the company a "neutral" rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their target price on New York Community Bancorp from $11.25 to $33.75 and gave the stock a "market perform" rating in a report on Monday, July 15th. Finally, StockNews.com raised shares of New York Community Bancorp to a "sell" rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $17.48.

New York Community Bancorp Trading Down 8.1 %

The stock has a market capitalization of $4.39 billion, a PE ratio of -3.83 and a beta of 1.00. The stock has a 50 day moving average price of $11.12 and a 200-day moving average price of $12.16. 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 - Get Free Report) last posted its earnings results on Thursday, July 25th. The financial services provider reported ($3.15) earnings per share for the quarter, missing the consensus estimate of ($1.26) by ($1.89). The firm had revenue of $671.00 million during the quarter, compared to analyst estimates 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 revenue for the quarter was down 44.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.23 earnings per share. Sell-side analysts expect that New York Community Bancorp, Inc. will post -2.41 earnings per share for the current year.

New York Community Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Saturday, December 7th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.38%. New York Community Bancorp's dividend payout ratio (DPR) is presently -1.45%.

Institutional Investors Weigh In On New York Community Bancorp

A number of hedge funds have recently added to or reduced their stakes in NYCB. Renaissance Technologies LLC increased its position in New York Community Bancorp by 995.2% in 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 during the period. Private Management Group Inc. raised its stake 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 buying an additional 1,789,914 shares during the period. WINTON GROUP Ltd bought a new position in shares of New York Community Bancorp in the 2nd quarter valued at about $5,401,000. SG Americas Securities LLC boosted its stake in shares of New York Community Bancorp by 302.7% during the second quarter. SG Americas Securities LLC now owns 1,681,490 shares of the financial services provider's stock valued at $5,414,000 after purchasing an additional 1,263,905 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in New York Community Bancorp in the second quarter valued at approximately $2,879,000. 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.