New York Community Bancorp (NYSE:NYCB) Trading Up 4.5%

New York Community Bancorp, Inc. (NYSE:NYCB - Get Free Report)'s share price shot up 4.5% on Wednesday . The stock traded as high as $11.07 and last traded at $11.03. 555,415 shares traded hands during trading, a decline of 94% from the average session volume of 9,188,850 shares. The stock had previously closed at $10.55.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Barclays cut their price target on New York Community Bancorp from $5.00 to $4.00 and set an "equal weight" rating for the company in a report on Monday, June 24th. Wedbush upgraded New York Community Bancorp from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $3.00 to $3.50 in a report on Wednesday, May 1st. Royal Bank of Canada decreased their price objective on New York Community Bancorp from $5.00 to $4.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 9th. StockNews.com raised New York Community Bancorp to a "sell" rating in a research note on Monday, April 29th. Finally, Keefe, Bruyette & Woods lifted their target price on New York Community Bancorp from $3.75 to $11.25 and gave the company a "market perform" rating in a research report on Monday. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, New York Community Bancorp has a consensus rating of "Hold" and an average price target of $5.38.

New York Community Bancorp Price Performance

The company has a market capitalization of $3.13 billion, a PE ratio of 375.67 and a beta of 0.99. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.27 and a quick ratio of 1.26. The stock's 50 day simple moving average is $3.75 and its 200-day simple moving average is $4.76.

Shares of New York Community Bancorp are scheduled to reverse split before the market opens 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 - Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $776.81 million. During the same quarter in the previous year, the business posted $0.23 EPS. The firm's revenue was down 76.1% on a year-over-year basis. As a group, equities analysts forecast that New York Community Bancorp, Inc. will post -1.48 earnings per share for the current fiscal year.

New York Community Bancorp Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, June 7th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.35%. The ex-dividend date was Friday, June 7th. New York Community Bancorp's dividend payout ratio (DPR) is presently 400.00%.

Institutional Trading of New York Community Bancorp

A number of institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in New York Community Bancorp in the fourth quarter valued at approximately $77,628,000. Goldman Sachs Group Inc. boosted 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 buying an additional 2,206,140 shares in the last quarter. Private Management Group Inc. grew its position in shares of New York Community Bancorp by 1,639.1% in the 1st quarter. Private Management Group Inc. now owns 1,899,114 shares of the financial services provider's stock valued at $6,115,000 after buying an additional 1,789,914 shares during the last quarter. Rafferty Asset Management LLC raised its stake in New York Community Bancorp by 187.4% during the 4th quarter. Rafferty Asset Management LLC now owns 2,466,622 shares of the financial services provider's stock worth $25,234,000 after acquiring an additional 1,608,267 shares in the last quarter. Finally, Mesirow Institutional Investment Management Inc. acquired a new stake in New York Community Bancorp during the 4th quarter worth $15,903,000. 67.88% of the stock is 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.