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

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Barclays upped their price target on New York Community Bancorp from $12.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Wedbush restated a “neutral” rating and set a $31.50 price objective on shares of New York Community Bancorp in a research report on Friday, July 26th. Keefe, Bruyette & Woods lifted their target price on shares of New York Community Bancorp from $11.25 to $33.75 and gave the company a “market perform” rating in a research report on Monday, July 15th. Citigroup boosted their target price on shares of New York Community Bancorp from $10.50 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 3rd. Finally, StockNews.com upgraded New York Community Bancorp to a “sell” rating in a report on Friday, July 19th. Two 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.com, the company currently has an average rating of “Hold” and an average target price of $18.91.

New York Community Bancorp Trading Down 6.7 %

The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 330.00 and a beta of 1.00. The company has a fifty day moving average of $15.76 and a two-hundred day moving average of $12.06. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 3.66.

New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported ($3.15) earnings per share 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 business had revenue of $671.00 million for the quarter, compared to analyst estimates of $722.47 million. During the same period in the prior year, the company earned $4.23 EPS. The company’s revenue was down 44.2% on a year-over-year basis. On average, research analysts expect that New York Community Bancorp, Inc. will post -2.45 EPS for the current year.

New York Community Bancorp Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Saturday, September 7th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, September 6th. New York Community Bancorp’s dividend payout ratio (DPR) is 133.33%.

Institutional Investors Weigh In On New York Community Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP lifted its position in New York Community Bancorp by 585.5% during the fourth quarter. Quarry LP now owns 4,031 shares of the financial services provider’s stock worth $41,000 after buying an additional 3,443 shares during the period. Vima LLC purchased a new stake in New York Community Bancorp in the fourth quarter valued at approximately $65,000. Versant Capital Management Inc increased its holdings 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 buying an additional 8,026 shares during the last quarter. Hantz Financial Services Inc. acquired a new position in shares of New York Community Bancorp in the 2nd quarter valued at about $28,000. Finally, AlphaMark Advisors LLC grew its stake in New York Community Bancorp by 26.0% during the second quarter. AlphaMark Advisors LLC now owns 8,734 shares of the financial services provider’s stock worth $28,000 after buying an additional 1,803 shares during the period. 67.88% of the stock is currently owned by hedge funds and other 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.