New York Community Bancorp (NYSE:NYCB) Shares Gap Down on Analyst Downgrade

New York Community Bancorp, Inc. (NYSE:NYCBGet Free Report)’s stock price gapped down before the market opened on Thursday after DA Davidson downgraded the stock from a buy rating to a neutral rating. The stock had previously closed at $4.48, but opened at $4.30. DA Davidson now has a $5.00 price target on the stock, down from their previous price target of $8.50. New York Community Bancorp shares last traded at $4.09, with a volume of 4,556,701 shares traded.

A number of other analysts also recently issued reports on NYCB. Morgan Stanley decreased their price objective on shares of New York Community Bancorp from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Wednesday. Keefe, Bruyette & Woods lowered shares of New York Community Bancorp from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $14.00 to $12.00 in a report on Monday, December 18th. Jefferies Financial Group lowered shares of New York Community Bancorp from a “buy” rating to a “hold” rating and lowered their price target for the company from $13.00 to $7.00 in a report on Thursday, February 1st. Citigroup reduced their price objective on shares of New York Community Bancorp from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, December 14th. Finally, UBS Group downgraded shares of New York Community Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $8.29.

Read Our Latest Stock Report on New York Community Bancorp

Institutional Trading of New York Community Bancorp

A number of institutional investors have recently bought and sold shares of NYCB. Point72 Hong Kong Ltd bought a new stake in shares of New York Community Bancorp during the second quarter worth $27,000. Orion Capital Management LLC purchased a new stake in shares of New York Community Bancorp during the third quarter worth about $28,000. Loomis Sayles & Co. L P purchased a new stake in shares of New York Community Bancorp during the third quarter worth about $29,000. Lazard Asset Management LLC purchased a new stake in shares of New York Community Bancorp during the fourth quarter worth about $29,000. Finally, Naples Money Management LLC purchased a new stake in shares of New York Community Bancorp during the fourth quarter worth about $30,000. 67.52% of the stock is currently owned by institutional investors.

New York Community Bancorp Price Performance

The firm has a market cap of $3.02 billion, a PE ratio of 1.26, a price-to-earnings-growth ratio of 0.56 and a beta of 1.03. The company has a quick ratio of 1.17, a current ratio of 1.18 and a debt-to-equity ratio of 2.06. The stock has a 50 day moving average price of $9.61 and a two-hundred day moving average price of $10.60.

New York Community Bancorp (NYSE:NYCBGet Free Report) last released its earnings results on Wednesday, January 31st. The financial services provider reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.56). New York Community Bancorp had a return on equity of 5.85% and a net margin of 28.96%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $935.90 million. During the same period last year, the firm earned $0.25 EPS. As a group, equities analysts expect that New York Community Bancorp, Inc. will post 0.75 earnings per share for the current year.

New York Community Bancorp Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend is Tuesday, February 13th. New York Community Bancorp’s dividend payout ratio is currently 20.42%.

About New York Community Bancorp

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for New York Community Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New York Community Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.