New York Community Bancorp (NYSE:NYCB) Stock Price Up 4.9%

New York Community Bancorp, Inc. (NYSE:NYCB)’s stock price rose 4.9% during mid-day trading on Friday . The company traded as high as $3.20 and last traded at $3.19. Approximately 5,351,040 shares were traded during trading, a decline of 81% from the average daily volume of 27,845,467 shares. The stock had previously closed at $3.04.

Analyst Ratings Changes

NYCB has been the topic of a number of recent research reports. Citigroup reduced their price objective on New York Community Bancorp from $5.00 to $3.50 and set a “neutral” rating on the stock in a research note on Thursday, March 7th. Royal Bank of Canada cut their target price on New York Community Bancorp from $5.00 to $4.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 9th. Barclays cut their target price on New York Community Bancorp from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Monday, June 24th. Raymond James cut New York Community Bancorp from a “market perform” rating to an “underperform” rating and set a $3.00 target price on the stock. in a research note on Monday, March 18th. Finally, Piper Sandler raised New York Community Bancorp from a “neutral” rating to an “overweight” rating and set a $4.00 target price on the stock in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.39.

New York Community Bancorp Stock Performance

The company has a market capitalization of $2.64 billion, a PE ratio of 322.00 and a beta of 0.98. The business’s fifty day moving average is $3.27 and its two-hundred day moving average is $5.24. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 3.39.

New York Community Bancorp’s stock is going to reverse split before the market opens on 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) last posted its earnings results on Wednesday, May 1st. The financial services provider reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.01. New York Community Bancorp had a net margin of 0.62% and a return on equity of 2.91%. The business had revenue of $633.00 million during the quarter, compared to the consensus estimate of $776.81 million. During the same quarter in the previous year, the firm posted $0.23 EPS. The firm’s revenue was down 76.1% on a year-over-year basis. Equities research analysts predict that New York Community Bancorp, Inc. will post -0.49 earnings per share for the current year.

New York Community Bancorp Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, June 7th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Friday, June 7th. New York Community Bancorp’s dividend payout ratio (DPR) is presently 400.00%.

Institutional Investors Weigh In On New York Community Bancorp

Large investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its position in New York Community Bancorp by 3,583.0% during the first quarter. Versant Capital Management Inc now owns 8,250 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 8,026 shares during the last quarter. Orion Capital Management LLC purchased a new stake in New York Community Bancorp during the third quarter valued at approximately $28,000. Naples Money Management LLC purchased a new stake in New York Community Bancorp during the fourth quarter valued at approximately $30,000. FinTrust Capital Advisors LLC lifted its position in New York Community Bancorp by 66.9% during the first quarter. FinTrust Capital Advisors LLC now owns 9,673 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 3,876 shares during the last quarter. Finally, KG&L Capital Management LLC purchased a new stake in New York Community Bancorp during the first quarter valued at approximately $32,000. Institutional investors 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.