New York Community Bancorp, Inc. (NYSE:NYCB – Get Free Report)’s share price fell 5% on Wednesday after Royal Bank of Canada lowered their price target on the stock from $5.00 to $4.00. Royal Bank of Canada currently has a sector perform rating on the stock. New York Community Bancorp traded as low as $3.03 and last traded at $3.06. 8,881,872 shares changed hands during trading, a decline of 76% from the average session volume of 37,188,023 shares. The stock had previously closed at $3.22.
A number of other analysts have also recently weighed in on the company. Jefferies Financial Group cut New York Community Bancorp from a “buy” rating to a “hold” rating and dropped their price target for the stock from $13.00 to $7.00 in a research report on Thursday, February 1st. Barclays initiated coverage on New York Community Bancorp in a research report on Friday, March 8th. They set an “equal weight” rating and a $4.00 price target on the stock. Compass Point cut New York Community Bancorp from a “buy” rating to a “neutral” rating and lowered their target price for the company from $16.00 to $8.00 in a research report on Thursday, February 1st. UBS Group cut New York Community Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Finally, Wedbush decreased their price target on New York Community Bancorp from $3.50 to $3.00 and set an “underperform” rating for the company in a research note on Thursday, March 7th. Three analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $5.43.
Read Our Latest Research Report on NYCB
Insider Transactions at New York Community Bancorp
Institutional Trading of New York Community Bancorp
Institutional investors and hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc lifted its position in shares of New York Community Bancorp by 3,583.0% during the 1st quarter. Versant Capital Management Inc now owns 8,250 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 8,026 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of New York Community Bancorp in the 2nd quarter worth approximately $27,000. Orion Capital Management LLC acquired a new position in shares of New York Community Bancorp in the 3rd quarter worth approximately $28,000. Loomis Sayles & Co. L P acquired a new position in New York Community Bancorp during the 3rd quarter worth $29,000. Finally, Lazard Asset Management LLC acquired a new position in shares of New York Community Bancorp in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 67.88% of the company’s stock.
New York Community Bancorp Stock Performance
The stock has a 50 day moving average price of $3.97 and a two-hundred day moving average price of $7.94. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 2.70. The company has a market cap of $2.39 billion, a price-to-earnings ratio of 0.90, a P/E/G ratio of 4.65 and a beta of 0.91.
New York Community Bancorp (NYSE:NYCB – Get Free Report) last released its quarterly earnings data 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 net margin of 28.96% and a return on equity of 6.22%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $935.90 million. During the same quarter in the prior year, the company earned $0.25 EPS. Analysts predict that New York Community Bancorp, Inc. will post 0.07 EPS for the current year.
New York Community Bancorp Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 6.68%. The ex-dividend date of this dividend was Tuesday, February 13th. New York Community Bancorp’s dividend payout ratio (DPR) is presently 6.01%.
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.
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