New York Community Bancorp (NYSE:NYCB) Shares Down 6.5%

New York Community Bancorp, Inc. (NYSE:NYCB - Get Free Report)'s share price fell 6.5% during mid-day trading on Monday . The company traded as low as $10.29 and last traded at $10.29. 4,815,399 shares traded hands during trading, a decline of 48% from the average session volume of 9,217,753 shares. The stock had previously closed at $11.01.

Analyst Ratings Changes

A number of research firms have issued reports on NYCB. StockNews.com upgraded shares of New York Community Bancorp to a "sell" rating in a report on Monday, April 29th. Citigroup increased their target price on shares of New York Community Bancorp from $3.50 to $4.00 and gave the stock a "neutral" rating in a report on Wednesday, July 3rd. Piper Sandler upgraded shares of New York Community Bancorp from a "neutral" rating to an "overweight" rating and set a $4.00 target price on the stock in a report on Wednesday, May 1st. Keefe, Bruyette & Woods increased their target price on shares of New York Community Bancorp from $3.75 to $11.25 and gave the stock a "market perform" rating in a report on Monday. Finally, Royal Bank of Canada reduced their target price on shares of 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. Two research analysts have rated the stock with a sell rating, thirteen 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 price target of $5.38.

New York Community Bancorp Price Performance

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 company's 50 day moving average is $3.48 and its 200 day moving average is $4.76. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of 337.00 and a beta of 0.99.

Shares of New York Community Bancorp are set to reverse split on the morning of 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 announced its 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. The company had revenue of $633.00 million during the quarter, compared to analysts' expectations of $776.81 million. New York Community Bancorp had a net margin of 0.62% and a return on equity of 2.91%. The firm's quarterly revenue was down 76.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.23 earnings per share. Research 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 business 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. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.04 dividend on an annualized basis and a yield of 0.40%. New York Community Bancorp's payout ratio is 400.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NYCB. Securian Asset Management Inc. lifted its position in shares of New York Community Bancorp by 4.7% during the second quarter. Securian Asset Management Inc. now owns 62,185 shares of the financial services provider's stock worth $200,000 after purchasing an additional 2,805 shares in the last quarter. Mirador Capital Partners LP lifted its position in shares of New York Community Bancorp by 12.3% during the second quarter. Mirador Capital Partners LP now owns 124,721 shares of the financial services provider's stock worth $402,000 after purchasing an additional 13,619 shares in the last quarter. SG Americas Securities LLC lifted its position 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 worth $5,414,000 after purchasing an additional 1,263,905 shares in the last quarter. RDA Financial Network lifted its position in shares of New York Community Bancorp by 12.6% during the second quarter. RDA Financial Network now owns 26,888 shares of the financial services provider's stock worth $87,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Fulton Bank N.A. lifted its position in shares of New York Community Bancorp by 14.9% during the second quarter. Fulton Bank N.A. now owns 39,454 shares of the financial services provider's stock worth $127,000 after purchasing an additional 5,104 shares in the last quarter. 67.88% of the stock is owned by institutional investors and hedge funds.

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.