New York Community Bancorp (NYSE:NYCB) Stock Price Down 6.8%

New York Community Bancorp, Inc. (NYSE:NYCB)’s share price fell 6.8% during trading on Tuesday . The company traded as low as $9.93 and last traded at $9.94. 974,551 shares traded hands during trading, a decline of 89% from the average session volume of 8,603,721 shares. The stock had previously closed at $10.66.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. StockNews.com upgraded New York Community Bancorp to a “sell” rating in a research note on Friday, July 19th. 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 note on Wednesday, July 3rd. Keefe, Bruyette & Woods lifted their price objective on New York Community Bancorp from $11.25 to $33.75 and gave the company a “market perform” rating in a research note on Monday, July 15th. Barclays lifted their price objective on New York Community Bancorp from $12.00 to $30.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Finally, Wedbush reiterated a “neutral” rating and issued a $31.50 price objective on shares of New York Community Bancorp in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.91.

New York Community Bancorp Stock Performance

The company has a market cap of $2.73 billion, a price-to-earnings ratio of 333.17 and a beta of 1.00. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 3.66. The firm has a 50-day simple moving average of $15.75 and a 200 day simple moving average of $12.02.

New York Community Bancorp (NYSE:NYCB) last released 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). The company 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 company’s revenue for the quarter was down 44.2% on a year-over-year basis. During the same period in the previous year, the firm posted $4.23 EPS. On average, sell-side analysts predict that New York Community Bancorp, Inc. will post -2.45 earnings per share for the current fiscal 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 0.40%. The ex-dividend date of this dividend is Friday, September 6th. New York Community Bancorp’s payout ratio is currently 133.33%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of New York Community Bancorp in the fourth quarter valued at approximately $77,628,000. Renaissance Technologies LLC boosted its stake in shares of New York Community Bancorp by 995.2% in the second quarter. Renaissance Technologies LLC now owns 4,116,786 shares of the financial services provider’s stock valued at $13,256,000 after buying an additional 3,740,900 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of New York Community Bancorp by 353.5% in the fourth 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. boosted 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 valued at $6,115,000 after buying an additional 1,789,914 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in shares of New York Community Bancorp in the second quarter valued at approximately $5,401,000. Institutional investors and hedge funds 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.