New York Community Bancorp (NYSE:NYCB) Trading Down 4.2%

New York Community Bancorp, Inc. (NYSE:NYCB)’s stock price traded down 4.2% on Tuesday . The company traded as low as $9.66 and last traded at $9.66. 1,693,945 shares changed hands during trading, a decline of 82% from the average session volume of 9,173,870 shares. The stock had previously closed at $10.08.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NYCB. Citigroup upped their price target on New York Community Bancorp from $10.50 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, July 3rd. Piper Sandler upgraded New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $12.00 target price for the company in a research report on Wednesday, May 1st. Keefe, Bruyette & Woods lifted their price target on 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. StockNews.com raised New York Community Bancorp to a “sell” rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada dropped their price target on New York Community Bancorp from $15.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $18.91.

New York Community Bancorp Stock Down 5.7 %

The firm has a market capitalization of $2.60 billion, a P/E ratio of 320.67 and a beta of 0.99. The company has a debt-to-equity ratio of 3.66, a quick ratio of 1.17 and a current ratio of 1.27. The stock has a fifty day moving average price of $15.27 and a two-hundred day moving average price of $13.73.

New York Community Bancorp (NYSE:NYCB) last announced its earnings results on Thursday, July 25th. The financial services provider reported ($3.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.26) by ($1.89). New York Community Bancorp had a negative return on equity of 4.49% and a negative net margin of 10.78%. The company had revenue of $671.00 million for the quarter, compared to analyst estimates of $722.47 million. During the same period last year, the firm earned $4.23 earnings per share. The firm’s revenue for the quarter was down 44.2% on a year-over-year basis. Research analysts forecast that New York Community Bancorp, Inc. will post -2.46 EPS for the current year.

New York Community Bancorp Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Saturday, September 7th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.42%. New York Community Bancorp’s payout ratio is presently 400.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System grew its holdings in New York Community Bancorp by 2.1% during the second quarter. Arizona State Retirement System now owns 202,741 shares of the financial services provider’s stock worth $653,000 after purchasing an additional 4,185 shares during the period. Denver PWM LLC raised its position in shares of New York Community Bancorp by 98.2% in the second quarter. Denver PWM LLC now owns 107,023 shares of the financial services provider’s stock valued at $345,000 after buying an additional 53,023 shares in the last quarter. First Business Financial Services Inc. acquired a new position in New York Community Bancorp during the second quarter valued at approximately $32,000. Carmichael Hill & Associates Inc. raised its position in New York Community Bancorp by 201.0% during the second quarter. Carmichael Hill & Associates Inc. now owns 9,029 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 6,029 shares in the last quarter. Finally, Rhumbline Advisers raised its position in New York Community Bancorp by 28.0% during the second quarter. Rhumbline Advisers now owns 2,608,488 shares of the financial services provider’s stock valued at $8,399,000 after purchasing an additional 570,113 shares in the last quarter. 67.88% of the stock is currently owned by institutional investors.

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.